Virginia Sportsbooks Saw 51.2% YOY Increase To February Handle

• Virginia sportsbooks handled over $401.9 million in sports bets.
• More than $33 million of the total handle came from Super Bowl bets.
• Virginia players won over $374.4 million in February
• Virginia broke $4 billion in total gross sports betting handle.

RICHMOND, Va. – Virginia’s regulated sports betting market saw huge growth in February thanks in large part to Super Bowl bets.

February Sportsbook Handle

Residents in Virginia placed just over $401.9 million worth of sports bets in February, marking a 51.2% growth year-over-year from the $265.7 million bet in February 2021.

February Year-Over-Year Sportsbook Handle Comparison

• February 2021 Handle: $265,778,306
• February 2022 Handle: $401,889,135

A report from the Virginia Lottery also shows that Super Bowl related bets in specific accounted for more than $33 million on that total sports betting handle.

The monthly handle did decline month-to-month from January to February however, falling from $485.5 million to $401.9 million.

February Sports Betting Revenue

Virginia sportsbook operators generated $27.5 million in February revenue, showing a 6.5% hold rate.

This means that players won more than $374.4 million from Virginia sports betting in February.

February Year-Over-Year Sportsbook Revenue Comparison

• February 2021 Revenue: $12,238,780
• February 2022 Revenue: $27,498,133

The legal sports betting market in Virginia managed to generate $1.4 million in taxes for the Virginia General Fund, the Problem Gambling Treatment, and Support Fund Allocation.

Virginia also passed the $4 billion total gross handle mark, as it now ranks in eighth place in in US sports betting.

News tags: Revenue | Virginia