Virginia’s sports betting market continues to grow at a rapid pace, with an impressive 8.2% year-on-year rise in April 2025. Despite seasonal declines compared to the previous month, the market remains strong, showcasing the dominance of online platforms and increasing state tax contributions.
Year-on-Year Growth and Market Overview
April 2025 saw Virginia’s sports betting handle reach $609.7 million, a notable 8.2% increase over April 2024’s $563.5 million. This marked the second consecutive month of year-over-year growth surpassing 8%, further solidifying Virginia’s position as a key player in the U.S. sports betting industry.
The market consists of 14 licensed online operators and three retail sportsbooks. Online platforms accounted for the lion’s share at $603.7 million, with retail sportsbooks contributing a modest $6 million.
Online vs. Retail Sportsbooks
- Online Handle: $603.7 million
- Retail Handle: $6 million
- Total Handle: $609.7 million
Monthly Fluctuations Compared to March 2025
While the year-over-year growth was strong, April’s handle dropped 11.6% from March 2025. March recorded a total handle of $689.7 million, making April’s decline reflective of the typical seasonal trends seen after major sports events earlier in the year.
Revenue Performance and Hold Rates
Virginia recorded adjusted gross revenue (AGR) of $56.1 million in April 2025, representing a 2.8% year-on-year increase. Compared to March’s $45 million, AGR grew significantly by about 24–27%.
- Hold Rate: 9.2%–10.3%
- Online AGR: $56.6 million (positive revenue growth)
- Retail AGR: Negative $473,390 due to high payouts
Promotional deductions were minimal, with an additional $6.6 million coded under “other” expenses.
Payouts to Bettors
Virginia bettors received a total of $546.9 million in payouts during April 2025. This high payout rate, combined with a competitive betting market, explains the negative revenue posted by retail sportsbooks.
Tax Contributions and State Benefits
The rise in adjusted revenues translated directly into higher tax contributions. Sportsbooks paid $8.5 million in taxes in April, a significant increase of 26% from March’s $6.75 million. Most of these tax funds were directed to the state’s General Fund, with an allocation of $212,000 going to problem gambling treatment and support programs.
Market Dynamics: Online Domination Continues
Virginia’s sports betting ecosystem remains dominated by mobile operators, which accounted for nearly all of the $609.7 million handled in April. Eleven out of the fourteen online sportsbooks reported positive AGR for the month, while the three retail sportsbooks struggled to sustain profitability.
Virginia’s trajectory shows sustained growth, as evidenced by its $6.9 billion total handle in 2024. The state’s regulatory framework, advanced mobile infrastructure, and consumer engagement continue driving its success as a leading sports betting market in the U.S.
Conclusion
In April 2025, Virginia showed why it is one of the most dynamic sports betting markets in the U.S., with an 8.2% year-on-year increase in handle. While monthly activity reflects seasonal trends, the state posted notable gains in adjusted revenue and tax contributions. As online operators dominate the market, Virginia’s framework appears poised for continued expansion in the coming years.
