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West Virginia Sports Betting Revenues Continue to Rise

22-12-2020



As experts had predicted, sports betting in West Virginia has been doing really well in the past few months. In July, there was a major increase in sports betting handles in all parts of the country.

West Virginia is one of the states that experienced this rise. In July, the state reported to have earned more revenue thanks to the return of pro games. The numbers have been rising consistently since then.

In the period between August and September, the revenue for West Virginia sports betting increased by 133%. This massive surge was caused by the return of major leagues like the MLB playoffs and NBA.

The Sports Betting Options In West Virginia

In 2008, the state legalized sports betting. The West Virginia Lottery Commission which is responsible for regulating the industry got the authority to draft rules for suppliers and casinos.

There are plenty of options to bet on sports in West Virginia. The state has three online sportsbooks.

    • BetMGM Sportsbook

This is an app from MGM Resorts International. It operates sportsbooks and casinos all through the country. The sportsbook is now live in West Virginia.

    • FanDuel Sportsbook

The FanDuel sportsbook is a product of the DFS company. It is one of the top sportsbook brands in the country.

    • DraftKings Sportsbook

This is one of West Virginia’s best betting options. It has a full betting app in the state.

Revenue in July

The sports betting market in West Virginia has kept going on an upwards trend. Over the months, mobile betting has proved to be the main catalyst of this success. This guide from betting.us. may help you understand sports betting in West Virginia better.

That said, July had a lot to deliver for the sports betting industry. As sports continued to return and more games were offered, betting handles increased as well. Betting enthusiasts were starting to feel excited over the return of pro sports and they were eager to start placing wagers.

The West Virginia Lottery released its official numbers and revealed that mobile sports betting was the real winner. It is where most bets in July were made.

By the second week of July, the sum of mobile sports wagers was more than double of the previous week. In that week, the total betting handle was $2.6 million. $2 million was from mobile betting.

Out of the $15.8 million from July’s sports betting handle, West Virginia’s tax revenue share was about $133,777. This was much-needed revenue for the state at the time.

There were fluctuations on what people were betting on all through the month. At the start of July, there were plenty of options other than UFC and NASCAR events. However, all of this changed by the second week when MLB got back into action. It drew significant numbers for bettors in the state.

About August

Even though there was a lot of good news for West Virginia in July, August had even more to offer. Interest did not wane and the return of the NBA made things even better. Sports bettors in West Virginia were very active and the West Virginia Lottery Commission reported significant growth.

According to their report, there was an increase in sports betting revenue every week in August. The main contributor of this increase was reopening of retail sportsbooks. Before then, only the Charles Town Casino Hotel, the Mountaineer Casino, and Racetrack & Resort were operational.

Charles Town brought in the highest betting revenue. On the first week of August, the sportsbook recorded a betting handle of $1.6 million. The betting handle was $1.9 in the next week and $1.8 million in the last week. The revenue in August was $205,454 for just one location.

Mountaineer earned $15,768 in revenue and Greenbrier earned $80,633 through the month. The Mardi Gras Hotel Sportsbook was opened in the final week of August. Its betting handle was $5,561.

The total sports betting revenue in West Virginia was $307,549.75. Most of the wagers were from the MLB and NBA betting.

With the NFL season just starting, Wheeling Casino Sportsbook reopening, the rest of the MLB season, and the postseason of the NBA, West Virginia’s sports betting market was expected to keep thriving.

With the continued growth, West Virginia got back onto the road of generating millions of dollars in revenue.

Sports Betting In September

The market for sports betting has been on a month-to-month boom over the last few years. However, September experienced the biggest leap of them all.

The state recorded $76.9 million in wagers. About $59.247 million was from mobile and online betting. The betting handle in August was $40.4 million.

The revenue increased significantly as well. The state earned $4.60 million, a dramatic increase from the $1.97 million generated in August.

While the return of sporting events contributed to this boom, it was not the only reason for increased revenue. The launch of the William Hill sportsbook in West Virginia was significant too.

In September, most of the betting activity was online. The William Hill sportsbook gave many new players an opportunity to play for real money.

Sports Betting In November

In November, there was a strong increase in the state’s sports betting activity. Generally, the betting handle went up by 8.7% and bettors wagered $48,532,221. This was a dramatic increase from 47.2 percent in November 2019. Mobile sportsbooks made a major contribution to this increase. Players wagered about 58.5 percent of the overall betting handle and $28.4 million at mobile sportsbooks. The numbers in November were 6.6% higher than in October.

The Mountaineer Casino remains at the top in regards to retails sportsbooks. More than $2.9 million was wagered at the sportsbook. In 2020, it has collected more than $11 million in wagers.

In conclusion, West Virginia now has official sports betting and online wagering has become increasingly popular. The state has earned lots of revenue from sports betting and the numbers continue going up. There are a few sportsbooks that have made that possible. Draftkings and FanDuel sportsbooks have become popular for their live sports. BetMGM joined them recently.




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