The Virginia Lottery reported sports wagering handle of more than $520.3 million for the month of September on Wednesday, the second-highest total in 33 months of wagering in the Old Dominion.
It was a year-over-year increase of 26.5%, as bettors in Virginia wagered more than one-half billion dollars for the sixth time since launching in January 2021 — all coming in the last 12 months. Handle in that one-year span is $5.3 billion and accounts for nearly half of the $11.9 billion in all-time wagers.
Though only seven operators finished with a net positive adjusted gross revenue to be eligible to be taxed, operators collectively won $54.1 million in gross revenue. That was up only 0.5% compared to September 2022, as the 10.4% hold was 2.7 percentage points lower versus last year.
Virginia’s sportsbooks have combined to fashion a double-digit hold for seven consecutive months, ranging from just over 10% in June to over 11.9% in May. It was also the 15th straight month the hold was at least 9.1% — more than two percentage points above the 7% industry standard.