Mobile sportsbook market leader FanDuel maintains its rapid pace in Virginia

Virginia's mobile sports wagering market is experiencing robust growth, with a total handle of approximately $590 million in May 2025. This figure represents a slight decrease of 2.3% from April but a significant 17.7% increase year-over-year.

Market Size and Revenue

The overall sports betting handle for May 2025, including both mobile and retail wagers, is estimated to be around $595 million. The Adjusted Gross Revenue (AGR) for the month stands at $67.9 million, marking a 21% increase compared to April and a 20.7% increase compared to May 2024. The gross revenue for the month, including all sportsbooks and retail, is reported to be $72.4 million.

Tax revenue from this thriving market is substantial, with $10.16 million collected in May from a 15% tax on AGR. These funds contribute significantly to the General Fund and Problem Gambling Treatment Fund.

The market in Virginia is populated by 14 licensed mobile operators and 3 retail casinos. Major operators active in Virginia include FanDuel, bet365, Barstool Sportsbook, and Caesars Sportsbook. While exact operator-specific market shares are not detailed, FanDuel and Caesars are mentioned prominently as large players and active promoters in the region and nearby states.

Caesars operates as both a retail casino sportsbook and a mobile platform, contributing to the overall market. The company's retail sportsbooks have a combined handle of nearly $26.2 million, a hold of 11.3%, and nearing $3 million in gross revenue.

Promotional Spending

While updated promos for Virginia-specific operators are not explicitly detailed in the Virginia reports, patterns from neighbouring states indicate aggressive welcome offers and promotional activity. For instance, FanDuel has offered "bet $5, win $150-$250," while Caesars has featured offers like "100% profit boost tokens" or sizable first-bet insurance bonuses in nearby markets. These aggressive promotional campaigns reflect ongoing marketing investments aimed at user acquisition and retention by major operators active regionally.

Summary

Virginia's mobile sports wagering market is strong and growing, with over half a billion dollars wagered monthly in mid-2025. The combined gross revenues exceed $67 million monthly, collected by major operators including FanDuel, Caesars, bet365, and Barstool Sportsbook. Tax revenue remains substantial, with $10 million+ monthly taxes collected from a 15% AGR tax rate.

While specific market share percentages and promotional spending figures for Virginia operators are not publicly broken out in the available data, the market dynamics and regional promotional activity suggest a healthy competitive environment with active marketing investments by key players. For more detailed operator-level market share or promotional spend data specific to Virginia, proprietary industry reports or direct operator disclosures may be required.

The sports betting handle for mobile and retail wagers in Virginia reaches approximately $595 million in May 2025.
The Adjusted Gross Revenue (AGR) for May stands at $67.9 million, witnessing a 21% increase compared to April and a 20.7% increase compared to May 2024.
Gross revenue for the month, encompassing all sportsbooks and retail, is reported to be $72.4 million.
Tax revenue from the thriving market is substantial, with $10.16 million collected in May from a 15% tax on AGR.
These funds contribute significantly to both the General Fund and Problem Gambling Treatment Fund.
Virginia's market comprises 14 licensed mobile operators and 3 retail casinos.
Major operators active in Virginia include FanDuel, bet365, Barstool Sportsbook, and Caesars Sportsbook.
Although exact market shares for each operator are not detailed, FanDuel and Caesars are prominently mentioned as significant players.
Caesars operates as both a retail casino sportsbook and a mobile platform in Virginia.
The retail sportsbooks of Caesars have a combined handle of nearly $26.2 million, a hold of 11.3%, and nearing $3 million in gross revenue.
Aggressive welcome offers and promotional activity in neighboring states suggest ongoing marketing investments by key regional operators.
FanDuel, for example, has offered "bet $5, win $150-$250" and Caesars "100% profit boost tokens" or sizable first-bet insurance bonuses.13.While specific market share percentages and promotional spending figures for Virginia operators are not explicitly detailed in the Virginia reports, the market dynamics and regional promotional activity point to a thriving and competitive environment.
For more detailed operator-level market share or promotional spend data specific to Virginia, proprietary industry reports or direct operator disclosures may be necessary.
The robust growth experienced by Virginia's mobile sports wagering market highlights its promising potential within the larger sports betting industry.
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Mobile sportsbook market leader FanDuel maintains its rapid pace in Virginia