Virginia Hits New All-Time High Sports Betting Handle Record

• Virginia’s January sports betting handle saw a record-breaking $485.5 million handle.
• Sportsbook revenue in January beat its year-over-year record, but was not overall record-breaking.

RICHMOND, Va. – Virginia’s regulated sports betting market has been active for a little over a year now, and with January’s revenue numbers in, we can see huge year-over-year growth.

In January of 2022, Virginia residents reportedly wagered over $485.5 million on sports, and generated $39 million in revenue. This is an all-time high and record-breaking legal sports betting handle.

This marks a 724.4% year-over-year handle increase from January of 2021, and a 13.8% increase from the previous months handle.

• January 2021 Handle: $58,896,564
• December 2021 Handle: $426,596,891
• January 2022 Handle: $485,544,417

Virginia Sports Betting January Revenue

Although January 2022 held a record-breaking sports wagering handle, the revenue was not as high as some previous months.

Although it did outperform January of 2021, and the previous month of December, November reported a noticeably higher sports betting revenue pull from sports betting.

• January 2021 Revenue: $3,586,077
• December 2021 Revenue: $31,515,015
• January 2022 Revenue: $39,050,067

The reason for such a large increase can likely be attributed to the fact that January of 2021 was the month that Virginia sports betting launched, so it needed time to pick up steam.

Virginia’s legal online sportsbooks consist of 10 regulated sportsbooks for residents to choose from, not counting offshore online sportsbooks.

News tags: Revenue | Virginia | Virginia Lottery