Similar to the rest of the nation, West Virginia experienced an increase in gambling figures during the calendar year 2022 when compared to the previous year.
According to the most recent report from the American Gaming Association, the total revenue from gambling in West Virginia reached $769.2 million in 2022. This figure includes earnings from casino slots and table games, sports betting, and online gambling. Compared to the previous year, the revenue for the Mountain State witnessed a significant increase of 16.8%.
In 2022, West Virginia experienced a growth rate that closely mirrored that of the entire United States. The country witnessed a notable 13.9% surge in gambling revenue, and the Mountain State was among the 13 states that demonstrated a remarkable 16% growth or higher during that period.
Nevada maintains its position as the leading gaming hub in the nation, raking in a remarkable $12.84 billion in revenue last year, marking a significant 10.5% increase from 2021. Within Nevada, the illustrious Las Vegas Strip reigns supreme, dominating the gambling scene by generating an impressive $8.24 billion in revenue, the highest for any single market.
Connecticut, Wyoming, and Arizona experienced remarkable growth rates of 430.1%, 268.5%, and 252.5% respectively. Similarly, Colorado, Rhode Island, and Kansas demonstrated 2022 growth rates comparable to that of West Virginia at 15.1%, 15.8%, and 18.5% respectively.
West Virginia’s Q4 gambling numbers rise year-to-year
In 2022’s fourth quarter, West Virginia was among the eleven states that experienced a growth rate of 20% or higher.
In the final quarter of 2021, West Virginia experienced a significant increase in revenue, reaching $211 million, which represents a remarkable 21.1% surge compared to the previous year’s final quarter.
Traditional gambling in West Virginia jumped by almost 10%
In 2022, land-based casino gambling experienced unprecedented growth, establishing it as a record-breaking year. Numerous states witnessed an impressive surge of 5% or more in casino revenue, and West Virginia was among them, demonstrating no deviation from this trend.
The traditional casino gaming revenue (slots, table games) in the Mountain State experienced a growth of nearly 10% between 2021 and 2022.
The trend observed since the COVID-19 pandemic has been encouraging. The American Gaming Association monitors the proportion of US adults visiting casinos. Following 2019, there was a consecutive two-year decline in casino attendance nationwide. Although the 2022 figures for casino visits are still lower than the peak in 2019, they have exceeded the 30% threshold.
Keep an eye on online casino gambling this year
The popularity of online gambling is steadily increasing nationwide. In 2022, approximately 5% of total revenue came from online gambling, showing a significant rise compared to the previous year. While it is unlikely that online gambling will surpass the presence of traditional casinos in the near future, it is a sector worth monitoring as more states legalize this recreational activity.
Online gambling is available in West Virginia, making it one of six states where this activity is permitted. The growth of online gambling in the Mountain State is projected to continue.
A new collaboration between DraftKings Casino and AGS was recently unveiled. Play’n Go, on the other hand, obtained a license in the Mountain State a few months back.
Hacksaw Gaming secured its inaugural US license in West Virginia during November. Just prior to this, EveryMatrix joined forces with Internet Vikings to support their online gambling endeavors.
West Virginia online gambling is here to stay for the foreseeable future, and it’s important to stay updated on the emerging trends as more states consider legalizing this field. The recent report by the AGA highlights the consistent growth of the online gambling industry over the past four years.
As a whole, total gaming revenue jumped nearly 14% across the country
Incorporating slot machines, table games, sports betting, and online gambling, the gambling sector in the United States generated a remarkable $60.42 billion in revenue during the 2022 calendar year. This figure reflects a substantial surge of 13.9% compared to the statistics of the previous year, 2021. Furthermore, it represents a notable increase of 38.5% when compared to the pre-pandemic figures of 2019.
Among the various sectors, sports betting and online gambling experienced the most significant growth. The revenue generated by sports betting in 2022 reached an impressive $7.5 billion, representing a staggering 72.7% increase compared to 2021. Similarly, online gambling revenue soared to $5.02 billion, marking a remarkable 35.2% year-on-year surge.
The industry as a whole is experiencing positive growth. In 2022, the gambling sector achieved record-breaking revenue for the second consecutive year. All three major categories, including casino slots and table games, sports betting, and online gambling, achieved record revenue totals.
Total US gambling revenue on track to surpass $100 billion
The American Gaming Association currently lacks complete data. However, the National Indian Gaming Commission is expected to release its tribal gaming revenue report later this year. According to the AGA’s report, it is anticipated that the country’s gaming revenue will surpass $100 billion for the first time.
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