West Virginia online casinos set a new high mark for revenue in January. Operators recorded $16.4 million in earnings last month, topping December’s previous best of $15.9 million.
WV online casinos have been booming as of late, all while undergoing a series of turnovers. Prominent operators have left the market as others have stepped in, not missing a beat.
Mountain State operators set new revenue record last month
West Virginia online casinos started off 2024 with a bang and a record for the second straight month. Platforms delivered $16.4 million in January, a new all-time high. It’s the first time operators have exceeded $16 million in a single month.
Over the last several months, West Virginia online casinos have displayed the following revenue figures:
- October: $15.5 million
- November: $14.4 million
- December: $15.9 million
- January: $16.4 million
It’s evident the market is growing at a steady pace in the Mountain State. Here is the breakdown in revenue by licensee:
- Hollywood Casino Charles Town (DraftKings WV Casino, Fanatics WV Casino, Hollywood WV Casino): $7 million
- The Greenbrier (FanDuel WV Casino, BetMGM WV Casino, Golden Nugget WV Casino): $6.8 million
- Mountaineer Casino (Caesars WV Casino, BetRivers WV Casino): $2.2 million
- Mardi Gras Casino (Betly WV Casino): $399,181
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Online casino market appears stable in the Mountain State
Despite the strong performance, the end of 2023 was a bit volatile for the market, in terms of turnover.
PointsBet and Barstool left the state as Fanatics and Hollywood replaced them last November. After two full months of operation, players are now getting used to the new options as the platforms are starting to gain their footing.
January was the third time since April 2023 that the Hollywood Charles Town license finished ahead of The Greenbrier.
In December, PlayWV wrote that Fanatics had not yet captured a significant market share. Perhaps now, it means that the new operator is beginning to make some waves in the Mountain State.
Fanatics does have some enticing promotions to offer players. It rewards customers 0.5% of a slot wager and 0.13% of a table games wager in the form of FanCash, which can be redeemed as bonus bets or merchandise through Fanatics’ website.
The West Virginia market should continue to thrive going forward, especially as players start to experience a stable group of operators.
Mountain State sportsbooks show year-over-year increase
Despite the football calendar slowing in January, West Virginia sports betting produced $50.6 million in handle, which is a 2.4% increase from January 2023. The Mountain State also collected $4 million in revenue.
West Virginia sportsbooks have shown their maturity in recent months. Here is the handle comparing Q4 2022 and Q4 2023:
2022
- September: $49.9 million
- October: $57 million
- November: $72.9 million
- December: $58.7 million
2023
- September: $44.5 million
- October: $47.7 million
- November: $56.4 million
- December: $54 million
Sportsbooks experiencing a January increase from last year is actually somewhat surprising. However, don’t expect it to become a trend for future months.