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Virginia sportsbooks and casinos stayed busy in May, pulling in solid revenue even with a slight drop in betting volume. While sports betting dipped just under $600 million, operators still saw strong profits—especially with basketball playing a big role.
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Basketball bets helped sportsbooks rake in big numbers. The NBA Playoffs brought in a ton of action, and with some unexpected results, operators came out on top. May’s hold hit 12.17%, the second time it crossed 12% this year, and only the second time monthly handle fell below $600 million in 2025. Still, that $595 million total was well above the $505.6 million wagered during the same month last year.
Gross revenue reached $72.4 million—up 20.7% compared to May 2024—while 13 different operators ended the month with positive adjusted income. In total, adjusted revenue came in at $67.9 million. That meant another healthy payday for the state, which added $10.16 million in tax revenue. Since January, Virginia has collected more than $46 million in taxes from sports betting alone.
A deeper look at the numbers shows $589.8 million came from online betting, while retail sportsbooks brought in just over $5.1 million in wagers. Retail books had a nice bounce back after a rough April, generating $467,259 in adjusted income after ending the previous month in the red by nearly half a million dollars.
March had been quieter, largely because NCAA favorites performed well and limited operator profits. But April and May brought stronger results. Over the past three months, Virginia sportsbooks earned a combined $185.9 million in gross revenue, marking a 10.5% increase from the same stretch in 2024.
Casinos also did their part to boost Virginia’s gaming industry. All three of the state’s casinos reported solid May earnings from slots and table games. Combined, they pulled in $85.4 million in adjusted revenue, up from $78.7 million in April. That activity generated $15.4 million in tax revenue for the state.
Among them, Caesars Virginia came out on top with $34 million in adjusted revenue. Rivers Casino Portsmouth followed with $28.3 million, and Hard Rock Bristol rounded it out with $23 million.