Sportsbooks Report Best Win Rate in Virginia Since 2022

Virginia’s sports betting market held strong in June, riding a mix of better margins and growing customer activity to a solid revenue month. Even as casinos saw a slight dip, sportsbooks across the state continued their upward trend—especially online.

Good to know

• Sports betting in Virginia hit a $477.8 million handle in June, up 15% from a year ago.
• Sportsbooks posted a high 12.7% hold, their best since September 2022.
• Casinos lost money on sports betting but made it up through slots and table games.

Sports betting operators in Virginia took in $477.8 million in wagers in June, most of it online. That’s a solid 15% bump compared to the same month in 2024. Gross revenue reached $60.7 million, jumping 33.4% year-over-year. And a big part of that gain came from one number: hold.

Operators held on to 12.7% of wagers placed, giving them their best win rate in nearly three years. It’s also the third time in six months they’ve cleared the 12% mark, a trend that’s been pushing profits higher across the board.

Twelve of Virginia’s operators reported positive adjusted gross revenue (AGR), totaling $57.1 million for June. That translated into $8.7 million in state tax revenue, bringing the year’s total to just over $54 million.

At the halfway point of 2025, Virginia sportsbooks had already cleared $3.6 billion in handle—an 11% jump from the $3.3 billion reported in the first six months of 2024. Gross revenue for the first half of 2025 hit $400.8 million, up 18.5% year-over-year. That growth came not just from more bets but also from better margins, as the average hold for the first six months reached 11.1%, compared to 10.3% during the same stretch last year.

Casinos Struggle on Sports Betting, Rely on Slots

While online books drove strong returns, Virginia’s three brick-and-mortar casinos didn’t have as much luck with sports betting. They posted a $327,616 loss on $5.07 million in bets, making it their second losing month in the last three.

Despite the sports betting slip, retail casino revenue from slots and table games helped keep things in balance. Overall AGR from casino gaming hit $78.5 million in June, although that was still down 8% from May.

Here’s how the numbers broke down among Virginia’s land-based casinos:

• Caesars Virginia brought in $30.56 million in adjusted profits.
• Rivers Casino Portsmouth followed with $26.5 million.
• Hard Rock Bristol reported $21.4 million.

Combined, those casinos paid $14.1 million in taxes for the month.