Online Casinos in West Virginia Generate $4.3 Billion in May

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After a somewhat disappointing performance in April, when they saw a drop in revenue, online casinos in West Virginia bounced back to see a rise in earning during May.

According to available information, they generated more than $4.3 million, making May the most profitable month for the state’s online casino industry since the launch of the market in July last year.

Four Online Operations in the Mountain State

Last month’s performance was boosted by four online casinos doing business in the state. For the first time, the four of them were fully operational for an entire month. As a result, each of the four operators, Fan Duel, BetMGM, Bet Rivers, and DraftKings Casino, helped earn over $1 million during three weeks in May.

Last month was very successful. Sports betting was out in full force, with bettors wagering more than $138 million and setting a new record for the monthly handle in West Virginia. In addition, the above-mentioned $4.3 million in revenue represent an improvement of 14% compared to the numbers from April.

The Greenbrier led the way with the help of FanDuel and BetMGM. In May, the two online casinos generated more than $2 million in revenue. Hollywood Casino closely followed, ending the three weeks with a revenue of $1.9 million. The brand, which works together with DraftKings, even set a new monthly record.

Mountaineer Casino, which offers sports betting services through Bet Rivers, ended May with a revenue of around $300,000. However, at the moment, the online casino is far behind its market competitors, while experts believe it will take a lot of time and effort for the brand to close the gap.

Breaking Down the Betting Handle

When you combine all the numbers, the betting handle in May increased by 20% when compared to April. BetMGN and Fan Duel together generated $68 million in wagers. With $65 million in bets, DraftKings was close behind.

The most important question at the moment is whether DraftKings will be able to catch up with the two leading operators, or will they continue to lead the state’s sports betting segment? The Greenbrier will be a tough nut to crack, especially as it has two skins in operation. If Hollywood Casino is seriously set on becoming the leading operator in West Virginia, it will undoubtedly need another operator to partner with.

The BetRivers site managed to generate around $6 million in wagers. Although this result is not disappointing, it’s miles away from other operators. So at this moment, BetRivers needs to focus on finding a larger following to stay competitive.

West Virginia reached an important milestone in May. The last month’s total helped the state reach and pass the $1 billion mark. That’s over $1 billion in total handle since the market went live in July 2020. With four online operators now offering their services to bettors in West Virginia, it’s expected that the total figures will continue to rise in the coming period.

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