Virginia Online Sportsbooks Post Second Straight Month Of Positive Revenue

Virginia’s mobile sports betting market emerged from its customer acquisition phase last month, posting net positive monthly revenues for the first time since launching in January 2021.

The April numbers released by the Virginia Lottery on Friday show a continuation of that positive trend. Virginia’s mobile sports betting apps produced $11,380,137 in combined revenue for April.

That figure marks a 17.8% month-to-month drop against March. Virtually all sports betting markets will show that same trend when the April numbers come in across the US, as the end of the fall and spring sports seasons typically lead to a decline in revenue.

VIRGINIA SPORTS BETTING REVENUE April 2021

 Overall Betting HandleAdjusted Gross RevenueSports Betting State Tax
April 2021 $236,432,523
$11,380,137
$1,652,147

Virginia’s mobile sportsbooks took  $236,432,524 in wagers in April. While the April numbers from some major markets (like Illinois) are still pending, the $236.4 million in handle likely puts Virginia among the top six mobile sports betting markets in the US for the month.

Seven online sportsbooks operated in Virginia in April. Those brands include William HillFanDuel SportsbookBetMGMBetRiversWynnBETUnibet, and DraftKings Sportsbook.

The seven sports betting apps generated $1,652,146.82 in state taxes in April, the strongest month yet from the state’s perspective. The state takes a 15% tax from net positive adjusted gross revenues.

As many as five more online sportsbooks could join the Virginia market at some point, and the Old Dominion appears poised for a bright future in the US legal sports betting landscape.

About the Author

Geoffrey Fisk

Geoff Fisk is a San Diego-based freelance writer, specializing in the poker and gambling industries. He’s written for numerous platforms and has traveled the globe as a live poker tournament reporter. Geoff’s interests include the legal online poker industry in the U.S. and abroad.