In April 2025, the sports betting market in Virginia continued to grow steadily, with total bets for the month reaching $609.7 million, an 8.2% increase year-over-year. Although there was a decline from March's $689.7 million (down 11.6%), it still showed an upward trend compared to $563.5 million in the same period in 2024.
According to data released by the Virginia Lottery, the vast majority of bets came from online channels, amounting to $603.7 million; retail sports betting only contributed $6 million in bets. This structure reflects the increasing digitalization of betting activities in Virginia, with the market share of physical betting spots continuing to shrink.
Revenue grew 2.8% year-over-year, with the hold rate rising to 9.2%
The adjusted total revenue for April was $56.1 million, up 2.8% year-over-year and a significant increase of 24.4% from March. This growth was mainly due to the robust performance of online betting. Online revenue reached $56.6 million, while retail betting recorded a loss of $473,000, offsetting some of the growth.
Looking at the hold rate, it was 9.2% for the month, which is considered healthy in the industry, showing that operators are maintaining a balance between returning to players and achieving profitability.
Despite positive overall revenue, player returns remain high, with retail betting showing losses
Despite the positive overall revenue, player returns were still substantial. Data shows that consumers received $546.9 million from sports betting. Among these, the retail channel returned $6.4 million, exceeding the month's $6 million in retail bets, leading to overall losses for retail operators.
The lottery also noted that other undisclosed deductions amounted to $6.6 million, mainly involving promotional expenses and deductible costs. It is important to note that Virginia does not publicly disclose individual operator performance data, so it is not possible to compare the market performance of individual brands.
Tax contributions of $8.5 million support public funds and interventions for problem gambling
In terms of taxes, sports betting activities brought in $8.5 million in tax revenue for Virginia in April. Of this, $8.3 million was allocated to the state government's general fund for general fiscal expenditures; an additional $213,000 was directed to the "Problem Gambling Treatment and Support Fund," to provide treatment and assistance for individuals at risk of gambling-related issues.
This reflects Virginia's attempt to balance social responsibility, especially in terms of regulation and public health, while promoting a legal gambling market.
Summary: The market is generally stable with growth, with online betting as the leading trend
Overall, although the total betting amount in April was slightly lower than in March, it still showed growth compared to the same period last year, reflecting the healthy development of Virginia's sports betting market. Online betting continues to be the engine of growth, while the retail end faces challenges, with increased risk of losses.
Operators need to maintain profitability while dealing with multiple pressures from regulation, promotional costs, and social responsibilities. As more states enter the legalized gambling arena, Virginia's market performance will become an important reference for the U.S. mid-sized gambling markets.
