A record-breaking month of wagers combined with a surprisingly high ‘hold’ percentage, leaving bettors with less and operators with more.
Virginians wagered a staggering $595 million on sports in May 2025, a figure that is nearly 18 percent higher than the same month last year. While bettors managed to win back over $522 million, sportsbooks ultimately kept the difference, walking away with $72.4 million in gross winnings from players across the Commonwealth.
According to the monthly report from the Virginia Lottery, the state agency that regulates legal gaming, this activity resulted in over $10 million in state taxes¹. The report highlights a growing market where, despite some big wins, the house continues to profit significantly.
May 2025 Sports Betting: By the Numbers
- $595 Million: Total Amount Wagered This figure, known as the handle, represents the total money bet by Virginians with 14 mobile operators and three retail casinos. This handle is a 17.7 percent increase from May 2024, showing a significant year-over-year expansion of the state’s betting market¹.
- $72.4 Million: The House’s Gross Win This is the amount sportsbooks pocketed after winnings were paid out to bettors. Calculated by taking the total handle ($595 million) and subtracting what players won ($522.6 million), this figure represents the total amount lost by bettors for the month.
- 12.17 percent: Operator “Hold” Percentage For every dollar wagered in May, sportsbooks kept an average of more than 12 cents. This hold is significantly higher than in previous months and represents a highly profitable period for the operators at the expense of the bettors.
- $10.2 Million: State Taxes from Betting Activity The state collected $10.2 million in taxes, which are calculated based on the sportsbooks’ revenue after deductions. Of this amount, 97.5 percent goes to the state’s General Fund, while 2.5 percent, or about $254,000, is allocated to the Problem Gambling Treatment and Support Fund¹.
The Bottom Line for Virginia’s Bettors
The May 2025 report shows that as the market grows, so do the operators’ profits. The nearly 18 percent jump in wagering demonstrates a sustained appetite for sports betting in Virginia. However, the high hold percentage serves as a critical reminder of the built-in advantage sportsbooks maintain. As the state benefits from the tax revenue, Virginia’s bettors are collectively funding those gains with significant monthly losses.
