Virginia Lottery Releases November Sports Wagering Activity Report. Total Handle Increased 23% Year Over Year
RICHMOND, VA (December 29, 2023) — The Virginia Lottery today released its report on sports wagering activity submitted by licensed operators for the month of November 2023.
Between November 1 and November 30, 2023, Virginians wagered $638,831,057 (“handle”), 23.1% higher than last November. A complete list of all approved operators can be found here, under the “approvals” tab.
Virginia bettors won a total of $595,827,813 for a combined 6.73% operators win percentage (“hold”).
State law places a 15% tax on sports betting activity based on each permit holder’s adjusted gross revenue (AGR), which is defined as total wagers minus total winnings and other authorized deductions.
| Mobile
Operators |
Casino Retail
Activity |
Total Nov-23 |
|
| Gross sports gaming revenues | $632,233,093 | $6,597,964 | $638,831,057 |
| Gross winnings | ($589,702,426) | ($6,125,387) | ($595,827,813) |
| Allowable Bonuses and Promotions | ($1,454,896) | $0 | ($1,454,896) |
| Other deductions | ($5,100,909) | ($92,505) | ($5,193,413) |
| AGR (Adjusted Gross Revenue) | $35,974,863 | $380,072 | $36,354,936 |
Of the state tax on sports betting AGR, the statute specifies 97.5 percent is to be deposited in the state’s General Fund and 2.5 percent is to be deposited into the Problem Gambling Treatment and Support Fund administered by the Virginia Department of Behavioral Health and Developmental Services.
Ten operators reported net positive AGR for November, leading to $5.5 million in tax payments for the month:
| Monthly Taxes | |
| Total Tax | $5,480,552.13 |
| General Fund Allocation | $5,343,538.33 |
| Problem Gambling Treatment and
Support Fund Allocation |
$137,013.80 |
The Virginia Lottery is responsible for the regulation of sports wagering in the Commonwealth of Virginia. Monthly financial reports and other important information about legal sports wagering is posted at www.valottery.com/casinosandsportsbetting.
