Between July 1 and July 31, 2023, Virginians wagered $293,611,789 (“handle”), 10.4% higher than last July. A complete list of all approved operators can be found here, under the “approvals” tab.
Virginia bettors won a total of $261,140,393 for a combined 11.06% operators win percentage (“hold”).
State law places a 15% tax on sports betting activity based on each permit holder’s adjusted gross revenue (AGR), which is defined as total wagers minus total winnings and other authorized deductions.
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Mobile Operators
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Casino Retail Activity
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Total
July-23
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Gross sports gaming revenues
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$290,999,143
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$2,612,646
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$293,611,789
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Gross winnings
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($259,125,799)
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($2,014,594)
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($261,140,393)
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Allowable Bonuses and Promotions
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($827,332)
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$0
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($827,332)
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Other deductions
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($3,414,163)
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($18,975)
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($3,433,137)
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AGR (Adjusted Gross Revenue)
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$27,631,850
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$579,077
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$28,210,927
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Of the state tax on sports betting AGR, the statute specifies 97.5 percent is to be deposited in the state’s General Fund and 2.5 percent is to be deposited into the Problem Gambling Treatment and Support Fund administered by the Virginia Department of Behavioral Health and Developmental Services.
Twelve operators reported net positive AGR for July, leading to $4.1 million in tax payments for the month:
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Monthly Taxes
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Total Tax
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$4,115,217.97
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General Fund Allocation
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$4,012,337.52
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Problem Gambling Treatment and
Support Fund Allocation
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$102,880.45
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