The Virginia Lottery reported all-time monthly highs of $74.3 million in gross revenue and $652.9 million sports betting handle for January on Friday as the Old Dominion kept pace with other states in hammering the betting public to kick off 2024.
Gross operator winnings were up 49.5% compared to 12 months prior as the 11.4% hold this January was 1.7 percentage points higher. It was the first time Virginia sportsbooks surpassed $70 million in monthly revenue and blew past the previous mark of $64 million last October.
Handle was up 27.2% versus January 2023 and 3.1% from December while bettering the previous record of $638.8 million from November. It is the third consecutive month wagers cleared $600 million in Virginia and the first time handle topped $500 million for five straight months.
For the first time since December 2022, the state was able to levy taxes on at least 90% of gross revenue, with $67.5 million in adjusted gross revenue subject to a 15% levy. That resulted in a record inflow of $9.9 million into state tax coffers and lifted the all-time total above $150 million in 37 months of betting.