Virginia’s sports betting industry has shattered previous performance records with November’s revenue reaching an unprecedented $95.3 million, marking a historic milestone for the state’s gambling sector.
Key Takeaways:
- Virginia’s sports betting revenue hit a record $95.3 million in November 2025
- Mobile betting accounted for 99.8% of total revenue ($95.1 million)
- Operators paid $14.3 million in taxes, with 97.5% going to Virginia’s General Fund
Record-Breaking Revenue in the Old Dominion
The Virginia Lottery has released its November 2025 report revealing unprecedented performance in the state’s sports wagering market. The adjusted gross sports betting revenue reached $95.3 million, establishing a new monthly record that underscores the robust growth of Virginia’s regulated betting industry.
Mobile betting continues to dominate the landscape, with the state’s fourteen licensed mobile operators generating $95.1 million in revenue. Meanwhile, the three land-based casinos authorized to accept sports wagers contributed a modest $193,052 to the total figure.
Handle Growth and Operator Performance
The total handle (gross sports gaming revenues) reached $798.9 million for November, representing a 5% year-over-year increase. Mobile bettors wagered $793.6 million and collected $694.6 million in winnings, while casino patrons wagered $5.3 million and won back approximately $5.1 million.
These figures translate to a hold percentage of 12.42% for the November period, indicating favorable results for operators during the month.
Tax Contributions and Fund Allocation
Virginia’s regulatory framework imposes a 15% tax on licensed sports betting revenue. Of the state’s seventeen licensed betting entities (fourteen mobile operators and three casinos), ten reported positive adjusted gross revenues for November, resulting in $14.3 million in tax payments.
The state’s tax distribution system allocates funds to two primary destinations. As mandated by law, 97.5% of betting taxes ($13.9 million) were deposited into Virginia’s General Fund. The remaining 2.5% ($357,865) was directed to the Problem Gambling Treatment and Support Fund, which provides resources for addressing gambling-related harm.
The November performance demonstrates the continued maturation of Virginia’s sports betting market since its launch, with mobile platforms clearly establishing themselves as the preferred betting method among Old Dominion residents. The record revenue also represents a significant contribution to state coffers through the established taxation framework.
I remember the first time I saw Kai Tak, Hong Kong’s gambling city, I thought I was in a fairy tale. All the lights blinking, the music and the monumental buildings, what 9-year-old wouldn’t think they’ve come to a magical place? It was my father who brought me, dragging me along and when inside I was hit by the smell of frying duck. As soon as I hit 21 I returned to Kai Tak, A bit nervous to see if my mind had embellished the memory, but it hadn’t. Kai Tak was still a magical place. I decided I wanted to spend as much time as I could at this place, so I did.
