In February, Virginia saw sports betting reach approximately $574.6 million, as reported by the Virginia Lottery. This marks a 3.2% rise from the $556.84 million wagered in the same month last year.
During this period, players collectively won around $517.53 million, while the adjusted gross revenue contributed approximately $9.3 million in taxes. Out of this amount, about $9.07 million, or 97.5%, will be allocated to the state’s general fund, with the remaining $232,599 directed towards the Problem Gambling Treatment and Support Fund managed by the Virginia Department of Behavioral Health and Developmental Services.
Mobile betting maintained its stronghold in the market, accounting for nearly $571.56 million of the total wagering. Retail sports betting at casinos added around $3.04 million to this figure. Virginia currently boasts three permanent casinos: Hard Rock Hotel & Casino Bristol, Rivers Casino Portsmouth, and Caesars Virginia located in Danville.
The state imposes a 15% tax on the adjusted gross revenue of sports betting operators, calculated after accounting for winnings and permitted deductions. In February, ten operators reported positive adjusted gross revenue.
The operators reporting for February included Betfair Interactive US (FanDuel) in collaboration with the Washington Commanders, Crown Virginia Gaming (DraftKings), BetMGM, Rivers Portsmouth Gaming (Rivers Casino Portsmouth), Caesars Virginia, Bally’s Interactive, Penn Sports Interactive, Colonial Downs Group, HR Bristol, Hillside (Virginia), PlayLive Virginia, and Sporttrade Virginia.
In addition to the growth in sports betting, Virginia’s overall casino sector reported adjusted gaming revenues of $95.2 million for the month.
Ongoing casino expansion projects are underway throughout the state. Construction commenced in February 2025 on a $750 million casino in Norfolk. Meanwhile, a $1.4 billion Live! Casino & Hotel Virginia project began in Petersburg in March 2025. Temporary facilities are already being set up, with an Interim Gaming Hall scheduled to open in Norfolk in November 2025 and a temporary casino in Petersburg launching in January under Cordish Cos.