The Virginia Lottery reported an all-time monthly record of $64 million in gross operator sports wagering revenue for October on Friday, part of a record-setting month in all major categories in the Old Dominion.

It was the first time gross revenue surpassed $60 million in Virginia. The previous record was $57.5 million set last November, and October marked the seventh time the figure was above $50 million. The $453.6 million in gross operator winnings through the first 10 months of 2023 is 21.6% higher than the same period last year.

Almost all of the record-setting $571.4 million handle came from mobile sports betting apps, which had a collective hold of 11.2% on $565.6 million worth of wagers to post $63.1 million in gross revenue. Virginia’s three brick-and-mortar sportsbooks kicked in close to $863,000, and their 14.9% hold on $5.8 million handle lifted the overall hold to 11.2%. Handle was up 8.2% compared to last October’s then-record $528 million and 9.8% higher than September’s $520.3 million.

The state was eligible to tax $56.4 million in adjusted revenue after operators claimed $4.8 million in deductions and those eligible to offer promotional play provided $2.8 million worth of credits. Nine operators finished with a net positive AGR, resulting in $8.6 million worth of tax receipts, and the $384.2 million in taxable revenue this year is up 54.6% compared to 2022.

1 NEW YORK $15.02B
2 NEW JERSEY $9.06B
3 Illinois $7.77B
4 NEVADA ~$6.5B
5 OHIO $5.98B
6 PENN $5.82B
7 Arizona $4.52B
8 VIRGINIA $4.32B
9 Colorado $3.68B
10 MASS $3.65B#gamblingtwitter

— Chris Altruda (@AlTruda73) December 1, 2023

October marked the eighth consecutive month that Virginia sportsbooks crafted a double-digit hold. They have accomplished the feat 17 times in 34 months of wagering since the first bets were taken in Virginia in late January 2021. It was the third time this year that the win rate on gross revenue exceeded 11%, and the overall win rate for the year is 10.5% on $4.3 billion handle.

The state was eligible to tax $56.4 million in adjusted revenue after operators claimed $4.8 million in deductions and those eligible to offer promotional play provided  $2.8 million worth of credits. At least three  — bet365, Betfred, and Betr — are eligible to deduct promotional credits as operators that have been in the state less than 12 months. Nine operators finished with a net positive AGR, resulting in $8.6 million worth of tax receipts, and the $384.2 million in taxable revenue this year is up 54.6% compared to 2022.

Virginia has collected $58.4 million in state taxes from sports wagering this year, $21.4 million ahead of last year’s pace heading into the final two months of the year. The Old Dominion also became the 10th state to surpass $12 billion in all-time sports betting handle and was the second to do so in October, along with Michigan. It remains to be seen how the 2024 dawn of North Carolina sports betting will impact its neighbor to the north.

The Virginia Lottery does not disclose handle and revenue information by operator in its monthly releases.