Virginia operators beat up on bettors, post $42M in gross revenue in May Chris Altruda, SportsHandle · July 1, 2022 at 3:16 pm Mobile sports wagering operators in Virginia broke the $40 million mark in gross revenue in May — just the second time they did that in the 17 months since launch — with a high hold offsetting the cyclical drop in betting handle. The Virginia Lottery reported the state’s 14 operators combined to claim more than $42.5 million in gross revenue for May, which trails only the $48.3 million amassed last November. The 17.3% month-over-month increase in gross revenue came despite a 12% drop in handle to $351.5 million, compared to $399.5 million in accepted wagers during April. Operators posted a 12.1% hold for gross revenue, which trailed only last July’s 12.3% win rate. It is the fifth time Virginia sportsbooks cleared 10%, and the third occasion it was higher than 12%.