Virginia Lottery Releases April Sports Wagering Activity Report. Total Handle Increased 32% Year Over Year
RICHMOND, VA (May 31, 2024) — The Virginia Lottery today released its report on sports wagering activity submitted by licensed operators for the month of April 2024.
Between April 1 and April 30, 2024, Virginians wagered $563,495,540 (“handle”), 32.3% higher than last April. A complete list of all approved operators can be found here, under the “approvals” tab.
Virginia bettors won a total of $502,900,955 for a combined 10.75% 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 Apr-24 |
|
| Gross sports gaming revenues |
$559,312,912 |
$4,182,628 |
$563,495,540 |
| Gross winnings |
($498,873,923) |
($4,027,033) |
($502,900,955) |
| Allowable Bonuses and Promotions |
($11,185) |
$0 | ($11,185) |
|
Other deductions |
($5,908,786) |
($45,388) |
($5,954,174) |
| AGR (Adjusted Gross Revenue) |
$54,519,018 |
$110,208 |
$54,629,226 |
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.
Twelve operators reported net positive AGR for April, leading to $8.2 million in tax payments for the month:
|
Monthly Taxes |
|
| Total Tax |
$8,210,372.38 |
| General Fund Allocation |
$8,005,113.07 |
| Problem Gambling Treatment and
Support Fund Allocation |
$205,259.31 |
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.
