Online casino betting in the Mountain State is building more momentum almost every month. The relatively new market continues to take more online wagers and generate more profits each week.
In January, West Virginia online casinos reached nearly $2.8 million in revenue. This was an increase of about $250,000 from the month prior.
While the amount of earnings varied from week to week, the results were very consistent. The online platforms of DraftKings Casino WV and BetMGM WV exceeded $575,000 in revenue during each week in January.
Their best showing was the week of Jan. 16. They earned around $830,000 during the seven-day period.
Although DraftKings still led the way this month, BetMGM has certainly closed the gap. The two online casinos had very similar performances in January, separated by only about $60,000 in terms of revenue.
The overall betting handle in the state was also impressive. Online betting approached $100 million for the month.
Casinos accepted at least $22 million in each week, with their best week hitting over $26 million in bets.
Since debuting in mid-July, the WV online casino market’s handle has eclipsed $475 million, with more than $12.5 million in profits.
WV online casino revenue
The almost $2.8 million in revenue for January was about a 10% increase compared to December wagering.
As mentioned, the two betting apps in WV were right in line with one another the entire month. They each outdid one another twice during the four weeks.
DraftKings won the weeks of Jan. 16 and Jan. 30, with about $540,000 and $360,000, respectively.
Even though BetMGM Casino didn’t reach the $500,000 mark, it nearly topped $300,000 every week. It beat out DraftKings with about $315,000 for the week of Jan. 9 and $365,000 for Jan. 23.
Before the month started, WV online casinos only exceeded $700,000 in revenue twice. They did so twice during January alone, including the current best of $833,445.83 for a single week.
For whatever reason, it’s now clear that BetMGM is no longer second fiddle to DraftKings. Of course, DraftKings entered the market first and was the only option for several weeks, allowing it to get ahead.
That being said, other potential online casino operators may want to get the ball rolling as soon as possible. As more time passes, both of the active casino apps in WV will gain more power and control.
WV online casino handle
A great month for revenue typically translates to a quality month for the size of the overall betting handle. The over $99 million bet in January was a 14% increase from the previous month.
WV casinos took in more than $24 million in a week just one time before the new year. In January, it happened three separate times, including the $26,536,696.81 wagered to close out the month.
The handle results are surprising based on the revenue breakdown.
While BetMGM has caught up in regard to making money, it still has some work to do in taking bets.
Hollywood Casino’s DraftKings totaled more than $65 million in wagers, whereas The Greenbrier’s BetMGM app was at only $34 million.
This is fairly similar to December, though. DraftKings accepted about $30 million more in handle last month, too.
BetMGM brought in over $10.7 million during its most active week, while DraftKings topped at least $15.8 million each week.
DraftKings has now reached a minimum of $10 million in bets for 10 consecutive weeks.
Although BetMGM matched its only competitor in the state with earnings of late, it’s quite possible DraftKings could maintain some sort of edge.
If it continues to average around $30 million more in handle per month, then it will have more opportunities to keep additional profits.