April Revenue Insights
RICHMOND, Va. - July 7, 2025
It’s been just over four years since Virginians placed their first legal sports bets. What began with seven operators and a modest monthly handle of $236 million has since grown into a stable and mature market, quietly delivering consistent revenue to the Commonwealth.
In April 2025, Virginia's licensed sportsbooks handled $430 million in total wagers, with an average hold rate of around 8.9%, yielding roughly $38.3 million in gross gaming revenue (GGR). From that, the state collected over $5.7 million in taxes, continuing its dual mission: funding public services and protecting problem gamblers.
Virginia’s first full April of legal sports betting came just months after the market launched on January 21, 2021. At the time, only seven operators were active, and March Madness had caused a spike in wagers that April could not sustain.
| Metric | April 2021 |
|---|---|
| April 2021 Handle | $236.4M |
| Hold% | 8.22% |
| Adjusted Gross Revenue (AGR) | $11.38M |
| State Tax Collected | $1.65M |
Back then, just four sportsbooks even reported positive AGR, and tax revenue barely broke $1.6 million. Today, with over a dozen operators in the market and a streamlined tax structure, April 2025 shows how far the state has come.
Active Sportsbooks in Virginia
Virginia now hosts one of the most competitive online betting ecosystems in the U.S., featuring:
- Bally Bet
- Bet365
- betMGM
- Betr
- BetRivers
- Caesars Sportsbook
- DraftKings
- ESPN BET
- Fanatics Sportsbook
- FanDuel
- Hard Rock
Where the Tax Dollars Go
Virginia imposes a 15% tax on adjusted gross revenue (AGR), defined as total wagers minus winnings and certain deductions. By statute:
- 97.5% of tax revenue goes to the General Fund, helping support K-12 education, healthcare, and state infrastructure.
- 2.5% is reserved for the Problem Gambling Treatment and Support Fund, administered by the Department of Behavioral Health.
In April 2021, this meant just $41,303 was allocated for problem gambling programs. In April 2025, that number exceeded $140,000, reflecting the growth of the industry and Virginia’s commitment to responsibility.
Looking Forward
What once felt like an experiment in early 2021 is now a pillar of Virginia’s public funding strategy. With year-over-year growth in both handle and tax revenue, the state’s decision to allow regulated betting has paid off; without the boom-and-bust cycles seen elsewhere.
As April 2025 shows, Virginia is proving that with tight oversight, smart policy, and consistent reinvestment, sports betting can be more than just a game. It can be a system that works.
