Virginia Lottery released data on Tuesday showing that Virginians wagered $760.96 millions in sports bets in November 2024. This is 19.1% more than what they wagered in November 2023.
Virginia bettors have won over $674.6 Million in November.
Mobile operators accounted for $756.76 millions of the gross revenues from sports betting in November, while $4.2 million came from casino retail activities. Virginia has three casinos, including the Hard Rock Hotel & Casino Bristol in Bristol, Rivers Casino Portsmouth in Portsmouth and Caesars Virginia Danville. The state’s casinos generated $63.57 millions in gaming revenue adjusted for November 2024.
The permanent Hard Rock Hotel & Casino Bristol was opened on Nov. 14, 2024 after operating a temporary casino from July 20,22. The permanent Caesars Virginia was opened on Dec. 17, 2024. Its temporary facility had opened in May 2023.
The handle for November 2024 was up 9% from the $696 million bet by Virginians in October 2024.
The following licensed operators were included in the November 2024 sports revenue report:
- Betfair Interactive US in partnership with Washington Commanders
- Crown Virginia Gaming (Draft Kings).
- BetMGM
- Rivers Portsmouth Gaming (Rivers Casino Portsmouth)
- Caesars Virginia
- Twin River Management Group
- Penn Sports Interactive
- Colonial Downs Group
- Digital Gaming Corporation VA
- VHL VA
- HR Bristol
- Hillside (Virginia)
- DC Sports Facilities Entertainment
- Betr VA
- PlayLive Virginia
- Sporttrade Virginia
Virginia taxes sports betting at 15% based on the adjusted gross revenue of each permit holder (total bets less total winnings, and any other deductions authorized). Ten operators reported a net positive AGR in November 2024. State taxes for that month totaled over $12.1 million.
The remaining 97.5%, or more than $11,79 million, will go into the general fund of the state. The remaining $302,500 will be deposited in the Problem Gambling Treatment and Support Fund administered by the Virginia Department of Behavioral Health and Developmental Services.
Norfolk and Petersburg are likely to be the future home of casinos in Virginia.
The team behind the Norfolk casino, which is still a long way off and has not yet announced its new name, held a groundbreaking for the casino on October 30, 2024. Boyd Gaming has replaced Tennessee investor Jon Yarbrough, while the Pamunkey Indian Tribe is still a partner. HeadWaters Resort & Casino has been renamed to the Norfolk Casino Resort.
In November 2024 over 80% of Petersburg’s voters voted yes for the casino referendum.
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