Virginia’s sports betting market showcased tremendous growth in June 2025, recording a 15% year-on-year increase in betting handle and a substantial rise in gross gaming revenue. This surge continues to solidify Virginia’s position as one of the premier sports betting markets in the U.S.
Year-on-Year Growth in Betting Handle
In June 2025, the total betting handle reached $477.8 million, up from $415.5 million in June 2024—a 15% jump year-on-year. This consistent growth reflects the increasing popularity of sports betting within the state’s regulated framework.
Revenue Gains and Operator Profitability
Virginia’s operators experienced significant revenue improvements in June:
- Gross gaming revenue (GGR) climbed to $60.7 million, a 33.4% increase compared to June 2024.
- Adjusted gross revenue (AGR), which is taxed, rose to $57.1 million during this period.
- Operators reported a 12.7% win rate (hold), their highest since 2022, attributed partly to favorable outcomes in popular events like the NBA Finals and MLB games.
Tax Revenue Supports State Initiatives
Virginia’s sports betting tax framework generated $8.7 million in tax revenues from operators in June alone:
- 15% of AGR is taxed by the state under current regulations.
- Approximately $216,860 was allocated to the Problem Gambling Treatment and Support Fund.
For the 2025 fiscal year, tax contributions from sports betting operations have exceeded $102.8 million, a nearly $20 million increase from the previous year, illustrating the growing economic benefits of the sector.
Mobile Betting: The Driving Force
The majority of sports betting in Virginia takes place on mobile platforms:
- Mobile sportsbooks handled $472.7 million, over 99% of all bets placed in June.
- Retail sportsbooks accounted for just $5 million in wagers.
- Of the 14 approved mobile operators and 3 retail casinos, 12 operators reported positive adjusted gross revenues.
Top Operators Showcase Market Leadership
Leading sports betting operators continue to dominate Virginia’s landscape:
- FanDuel: Generated $26.5 million in revenue with a 15.2% hold rate, the highest since September 2022. Its year-to-date revenue stands at $179.1 million, an 8% increase from 2024.
- DraftKings: Recorded nearly $17 million in revenue from $141.5 million wagered, achieving a 12% hold rate and surpassing $100 million in year-to-date revenue.
Regulatory and Economic Significance
Virginia’s regulated market applies a 15% tax on AGR, redirecting funds toward fiscal growth and gambling support programs. The state’s maturing sports betting ecosystem continues to contribute significantly to public revenues and to maintain responsible gambling practices.
Conclusion
The Virginia sports betting market’s robust June 2025 performance underscores its rapid development, bolstered by surging revenues, dominant mobile engagement, and flourishing operator activity. With $477.8 million in handle and an expanding tax contribution, the industry is well-positioned for sustained growth and fiscal impact.
