FanDuel was again the runaway marketplace leader among sports betting apps in Virginia for May according to figures from a fulfilled Freedom of Information Act request by the Virginia Lottery.
Operators in the Old Dominion had their highest hold of the year in May at 11.9%, the 12th time in the last 15 months it reached double figures. Gross revenue finished just shy of $60 million, with the $505.6 million handle the eighth consecutive month it exceeded one-half billion dollars.
The fourth year of sports betting in Virginia has seen notable year-over-year growth, with gross sports betting revenue up 22.9% and handle 26.8% higher. There is a chance all-time handle could reach $20 billion by year’s end. The state has collected $38.8 million in taxes through the first five months of the year, up $8.3 million from the same span in 2023.
FanDuel Continues Tear With 14.6% Win Rate
About the only thing FanDuel failed to do in Virginia in May was extend its streak of $200 million monthly handles, coming $708,000 short. But the digital dynamo had a year-best 14.6% hold that resulted in $29.1 million in gross revenue.