November 2024 was the most lucrative month in Virginia sports betting history for sportsbooks and for the state.
The latest data published by the Virginia Lottery shows that the state set new monthly records in handle, gross revenue and tax revenues.
Old Dominion bettors spent a total of $761 million on sports wagering in November, $756.8 million of which was spent online or via mobile sportsbooks. That total handle was a new all-time record, up 19.1% year-over-year and 9.3% more than the previous all-time high that had been set just the month prior in October.
Until November, Virginia sports betting handle had never eclipsed $700 million in a single month.
Operators’ adjusted gross revenue hit $80.6 million, comfortably more than double the winnings of November 2023 and 64.5% above October 2024. That set a new monthly benchmark, at 19.4% higher than the previous record of $67.5 million set in January 2024.
The betting activity resulted in Virginia’s biggest ever sports wagering tax haul as the state’s 15% rate reaped just over $12 million. The previous record was January 2024’s $9.9 million.
Entries and exits in Virginia
The Virginia Lottery does not break down revenue data by individual operator, so we can’t see for sure how each of the 13 mobile sportsbooks did in December.
What we do know is that the market has changed a little in recent months.
British bookmaker Betfred ceased operating in the state on Oct. 21, before sports wagering platform Sporttrade launched in the state three days later.