Virginia sports betting surges 22% to $510 million in August

• Sports wagering in Virginia reached $510.2 million in August 2025, marking a 22.4% year-on-year increase and setting new state records
• Operators achieved a 12.33% hold rate, generating $58.3 million in adjusted gross revenue across mobile and retail channels
• Casino gaming revenue totalled $84.8 million, with all three venues posting strong performance led by Caesars Virginia

Virginia’s sports betting market reached new heights in August 2025, with the Virginia Lottery reporting total wagers of $510,179,552, representing a 22.4% increase from the same period last year.

The milestone also positioned Virginia as the 8th state to surpass $25 billion in all-time sports betting handle since the repeal of PASPA.

Mobile operators dominated the market, generating $506,278,964 in gross wagers, whilst casino-based sports betting contributed $3,900,589. Bettors collected $447,299,369 in winnings, resulting in an operator hold rate of 12.33%.

Record tax collection

After accounting for winnings and deductions, adjusted gross revenue reached $57,342,148 for mobile operators and $938,895 for casinos, totalling $58,281,044. This strong performance generated substantial tax revenue for the state, with 97.5% of collections flowing to Virginia’s General Fund and 2.5% allocated to the Problem Gambling Treatment and Support Fund.

The August figures represent the fourth consecutive month where operators achieved a hold rate of 11.5% or higher. Virginia has now crossed the $2 billion threshold in taxable sportsbook revenue, making it the 8th state to reach this milestone.

Casino drives growth

Virginia’s three operational casinos delivered robust performance in August, generating combined gaming revenue of $84.8 million. Caesars Virginia led the market with $34.5 million in adjusted gross revenue, comprising $26.6 million from slots and $8 million from table games.

Rivers Casino Portsmouth followed with $28 million in total revenue, split between $20.4 million from slots and $7.6 million from table games. Hard Rock Bristol completed the trio with $22.3 million in revenue, including $18.6 million from slots and $3.7 million from table games.

Market expansion continues

The strong August performance comes as Virginia prepares for further market expansion. Boyd Gaming and the Pamunkey Indian Tribe are set to open a temporary casino in Norfolk in November, with plans for a permanent resort by 2027.

Virginia’s regulated sports betting market launched in January 2021 and has consistently ranked among the top 10 states for monthly betting volume. The state’s 15% tax rate on adjusted gross revenue continues to provide substantial funding for state programmes through its revenue-sharing structure.