Virginia Lottery Releases December Sports Wagering Activity Report. Total Handle Increased 26% Year Over Year

February 21, 2024 | Sports Betting

RICHMOND, Virginia (February 5, 2024) — The Virginia Lottery today released its report on sports wagering activity submitted by licensed operators for the month of December 2023.

Between December 1 and December 31, 2023, Virginians wagered $633,181,758 (“handle”), 25.9% higher than last December. A complete list of all approved operators can be found here, under the “approvals” tab.

Virginia bettors won a total of $569,574,747 for a combined 10.05% 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 Dec-23
Gross sports gaming revenues	$625,516,403	$7,665,355	$633,181,758
Gross winnings	($562,880,694)	($6,694,053)	($569,574,747)
Allowable Bonuses and Promotions	($1,877,436)	$0	($1,877,436)
Other deductions	($4,486,382)	($55,231)	($4,541,613)
AGR (Adjusted Gross Revenue)	$56,271,890	$916,071	$57,187,962

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 December, leading to $8.5 million in tax payments for the month:

	Monthly Taxes
Total Tax	$8,465,775.88
General Fund Allocation	$8,254,131.48
Problem Gambling Treatment and Support Fund Allocation	$211,644.40

About Virginia Lottery
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.

SOURCE: Virginia Lottery.