West Virginia's Sports Betting Revenue Rises in October to $4.6 Million

West Virginia’s sports betting has accelerated in October thanks to punters’ mobile betting platform use.

Until October 26th, the overall market revenue for the month was $4.6 million. This is from a total player handle of $29 million on sports betting in retail and mobile segment.

Hollywood Leading the Way

Sports betting’s most popular form was retail…

…with the revenue for this coming at $2.7m for the month. Consumer spent $16.3 million at licensed facilities in West Virginia. The mobile betting, however, didn’t fall far behind, with $1.8m in revenue and a handle of $12.7m for the month.

Leaders in term of market turnover is still Hollywood Casino at Charles Town Races, operated by Penn National. They have recorded revenue of $3.5 million and have processed $19.1m in bets.

DraftKings is the operator of Hollywood Casino’s sportsbook and they have raked in $1.3 million in sports betting revenue in WV. That’s only mobile – the retail amount was $2.2m.

Greenbrier resort brought in $552,011 in betting revenue. That’s from $5.8 million in wagers, while mobile bets were the main source of income in this private resort, with $519,380 in revenue compared to retail’s $32,631.

William Hill Still With No Mobile Betting

Mountaineer Casino’s William Hill sportsbook collected $535,361 in profits and this all comes from retail, because this operator did not introduce mobile sports betting yet.

Mardi Grad and Wheeling, operated by Delaware North, halted sports betting in March and stayed inactive since due to dispute with partner Miomni.

A Milestone After First Six Months

In April, it was announced that West Virginia’s first six months of sports betting operations brought more than $10 million in revenue!

The sports betting market in this state opened in September 1st 2018.

A Lightning Quick iGaming Legislation

In March, Governor, Jim Justice, signed the House Bill 2934 into law, effectively legalizing online gambling in this state. This made WV the fourth state to legalize online gambling.

In fact, the Governor neither approved or vetoed the law, which made it automatically into a law.

All five of the state’s land-based casinos will have five-year licenses available. Each casino would have to pay a $250,000 license fee. After five years , they would have to pay an additional $100,000 to renew their licenses for five more years.

Source:

“West Virginia sports betting revenue up again in October”, igbnorthamerica.com, November 5, 2019.