WynnBet became the latest online sportsbook and casino in West Virginia. The gaming operator has more of a retail presence, especially in Las Vegas, than it currently does online.
Nevertheless, WynnBet launched operations in the Mountain State last month. How has it done through the first week of July compared to other West Virginia online sportsbooks?
WynnBet has several giants to contend with on both the sports betting and WV online casino side of the market.
WynnBet Sportsbook WV performance in July
WynnBet Sportsbook has drawn $36,630.85 in total bets and $4,707.61 in revenue so far through the first eight recorded days of July.
The new operator is scheduled to take in $141,944.54 in handle and $18,241.99 in revenue this month.
Hollywood Charles Town, whose partners include DraftKings Sportsbook WV, Barstool and PointsBet, have recorded a handle of $3 million and revenue of $156,141.85 through July 8.
Though The Greenbrier, licensed with BetMGM WV, FanDuel Sportsbook and Golden Nugget, posted a slightly lower handle at $2.8 million, the licensees generated $294,583.32 in revenue.
Mountaineer Casino, working with Caesars and BetRivers, registered $346,728.46 in handle, but actually lost nearly $18,000 combined this month.
Since West Virginia doesn’t break out revenue by operator, it’s tough to see where exactly WynnBet falls. It’s clear the company is sixth or lower among the eight active sportsbooks in terms of handle. However, since WynnBet did not lose money, it sits sixth in revenue so far in July.
WynnBet online casino early revenue totals in West Virginia
West Virginia online casinos are the more profitable gaming vertical over sports betting.
While Betly is expected to relaunch before the NFL season, WynnBet’s online casino revenue figures are easily accessible.
Through the first eight days of July, here are key statistics detailing WynnBet’s performance:
- Amount wagered: $2.4 million
- Amount paid: $2.3 million
- Revenue: $133,292.75
- Taxes: $19,993.91
WynnBet is on pace to generate $516,509.41 in revenue and $77,476.40 in taxes through July.
Over a 12-month period, WynnBet is on track to make $6.2 million in revenue and contribute $929,716.80 in taxes.
WynnBet is in competition with BetRivers and Caesars for online casino market share. Both casinos have already brought in $551,591.66 in July, which is more than what WynnBet is projected to make this month.
It’s possible WynnBet catches BetRivers and Caesars at some point. Looking at Michigan’s 15 online casinos, WynnBet consistently sits around seventh in revenue, behind the two aforementioned operators.
Look for WynnBet to be battling with BetRivers and Caesars in both verticals for the time being.