Virginia Lottery reports over 120% rise in revenue for 2024

Adjusted total sports betting revenue in Virginia, USA, increased more than 120% year-over-year in November. The Virginia Lottery reported revenue of $80.6 million in November, up 121.8% compared to $36.4 million in November 2023. The latest revenue came from a total movement of $760.97 million, up 19.1% on a year-over-year basis. Annual to the United States, $638.8 million. Sports betting taxes in Virginia amount to $12.1 million.

 

[Jenny]

I think the surge in revenue could have various implications, including enhanced funding for public education and other state initiatives, which are often supported by lottery proceeds. It also raises questions about player behavior and trends in gambling, as well as the broader economic factors that may be driving this increase.