Virginia Sports Betting Handle Falls to $581.3 Million in May, Down 2.3% From Last Year

Virginia sports bettors wagered more than $581.3 million in May, according to the latest monthly report from the Virginia Lottery, marking a 2.3% year-over-year decline and a drop from April’s $613.9 million handle. The dip continues a choppier stretch for the state’s mobile-dominant market after a strong start to 2026.

Of May’s total handle, $574,584,903 came through mobile sportsbooks, while just $6,750,899 was wagered at retail locations inside the state’s casinos, underscoring how thoroughly online betting has come to dominate Virginia’s market since legalization.

A Mixed Year-to-Date Picture

May’s gross gaming revenue reached $63.3 million, with a hold percentage of 10.89%, generating $9.5 million in state tax revenue. That followed an April in which the state collected $9.8 million in taxes on a higher $613.9 million handle, suggesting May’s slightly better hold percentage helped offset some of the drop in total wagering volume.

The year-over-year softness follows a similarly rocky March, when handle fell 2.4% to $672.8 million even as tax remittances rose 32% year-over-year to $9.0 million, again reflecting how hold percentage swings can shift the tax picture independent of total betting volume.

Market Shifts Continue

Virginia’s operator landscape has also seen some turnover in 2026. Sporttrade stopped accepting new wagers on its Virginia betting site in late May, with existing users given until the following month to withdraw remaining balances. The state currently has 10 licensed sportsbooks in market, including Bally Bet, BetMGM, BetRivers, bet365, Caesars Sportsbook, DraftKings, FanDuel, theScore Bet, Hard Rock Bet, and Fanatics Sportsbook.

Virginia legalized sports betting through legislation that allowed both mobile and retail wagering, and the market has consistently ranked among the more mature mid-sized state markets nationally since its 2021 launch. Whether the recent year-over-year softness reflects a broader plateau or simply monthly variance tied to the sports calendar remains to be seen as summer months typically bring lighter betting volume industry-wide.