After West Virginia online casino operators faced a mild summer slide, the fall season has more than made up for it. So much so, that platforms in the Mountain State set a monthly revenue record in October, generating $15.5 million.
The figure is quite impressive after a few down months for WV online casinos. During a recent earnings call, one operator in particular reached a milestone to help the market grow even more.
West Virginia online casinos set a new standard for monthly revenue
Mountain State platforms smashed the previous record of $14.3 million set back in March. The $15.5 million produced in October is a $1.2 million increase from March’s figure.
October’s earnings are coming off a slower summer for the state. It crossed $12 million in revenue just twice in the five months prior:
- May: $11.6 million
- June: $12 million
- July: $11.4 million
- August: $11.6 million
- September: $12.7 million
The West Virginia Lottery breaks down revenue by license and not by operator. Here is the distribution of revenue:
- The Greenbrier (FanDuel WV Casino, BetMGM WV Casino, Golden Nugget WV Casino): $6.6 million
- Hollywood Casino Charles Town (DraftKings WV Casino, PointsBet WV Casino, Barstool WV Casino): $6.1 million
- Mountaineer Casino (Caesars WV Casino, BetRivers WV Casino): $2.4 million
- Mardi Gras Casino (Betly WV Casino): $349,277
This October’s earnings are a 44.9% year-over-year increase. West Virginia online casinos are well on their way to $150 million in yearly revenue.
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BetRivers makes progress in WV online casino market
BetRivers WV Casino was late to the party when it launched an app in April 2021. Market leaders such as DraftKings and BetMGM had already been well established when BetRivers debuted.
Despite that, the operator has been able to gain significant market share over the last several months. Company CEO, Richard Schwartz, announced during an earnings call earlier this month that BetRivers achieved a 14% market share in the WV online casino space.
It’s the third market, including Pennsylvania and Columbia, that BetRivers has reached the 14% threshold. Schwartz said during the call:
“West Virginia continues to be a great story for us. It’s a market where we launched later than our competitors and without any starting database or meaningful brand awareness.”
BetRivers looks to be one of the main operators in the Mountain State.
What’s to come for West Virginia online casinos
With West Virginia online casinos reaching new heights, there is also going to be a shift within the market.
Barstool Sportsbook, along with its online casino, is leaving the gaming industry. While the number of online casinos remains the same, Barstool is being replaced with Hollywood WV Casino. Hollywood is already integrated with PENN Entertainment’s new partner, ESPN Bet, which launched earlier this week in the Mountain State.
Hollywood online casino must be accessed through ESPN Bet. There will not be a standalone app or website for the online casino.
WV sports betting reports $47.7 million in October handle
In one of the busiest months of the sports calendar, WV sportsbooks took in $47.7 million in total bets overall. This is a slight increase from September’s $44.5 million handle, but a 16.3% year-over-year decrease. WV sports betting online accounted for 88.3% of the total handle in October.
With this being the sixth full year with football betting, it seems West Virginia sportsbooks have hit their peak.
As baseball winds down in October, college basketball picks up in November. It’ll be interesting to see what the results are next month for the state’s sportsbooks.