The end of the year is approaching and the West Virginia Lottery is close to reporting December online casino revenue in the Mountain State. Operators are expected to set a record of more than $150 million in earnings this year.
WV online casinos experienced a slight summer slide, but rebounded nicely in the fall to set monthly revenue records.
West Virginia online casinos to set yearly record in 2023
As long as West Virginia operators record about $8.5 million in December revenue, the state will exceed $150 million in yearly earnings. That should not be a problem, as the state has not generated fewer than $8.5 million in monthly revenue since June 2022.
Back in October, the Mountain State was on pace to produce $148.7 million in yearly revenue. Thanks to a strong September through November, the state is now expected to exceed the $150 million threshold.
Here are the revenue totals from those months:
- September: $12.7 million
- October: $15.5 million
- November: $14.4 million
Those numbers are a far cry from the spring and summer months. From May through August, online casinos reported more than $12 million just once. They have already done that twice over the past three months, with October setting a monthly record.
Don’t be surprised to see another $14-plus million month from operators in December.
Revenue growth is up 37% year over year
Online casino operators in West Virginia are averaging $12.9 million in monthly revenue, which puts the Mountain State on pace for $154.4 million in 2023.
Should the state finish north of $154 million to end the year, it would be a 37% year-over-year increase from 2022.
Here are revenue totals since online casinos became legal in 2020:
- 2020: $7 million
- 2021: $55.8 million
- 2022: $112.6 million
- 2023: $154.4 million (on pace)
The growth appears to be evident in the Mountain State, which should continue in 2024. Shawn Fluharty, Minority Whip in the West Virginia House of Delegates, said on the Safe Bet Show podcast earlier this month that sports betting often gets the attention, but online casinos drive the revenue. He said:
“In golf, drive for show, putt for dough. When it comes to sports betting and iGaming, sports betting is for show, iGaming is dough,” Fluharty said. “Meaning, the money we thought was coming with sports betting, which is a bit of a falsehood, actually does come with iGaming.”
LEARN MORE ABOUT TOP WV ONLINE CASINOS:
Could the WV market top $200 million in 2024?
Just last week, the West Virginia Lottery welcomed Konami Gaming to the market, which is going to provide operators with new online casino games and marketing tools.
And despite PointsBet leaving, Fanatics launched its platforms for sports betting and online casino games in the Mountain State. The new operator is expected to make a big impact.
With the appetite for gaming still growing, the innovation is going to continue to get stronger. It’ll be interesting to see if West Virginia online casinos can top $200 million in 2024.
