Online casino betting made a grand entrance in the Mountain State.
During its initial four weeks of operation, DraftKings Casino WV received more than $37 million in wagers.
In July, the partnership between Hollywood Casino and West Virginia led to the launch of the state’s inaugural online casino platform.
DraftKings concluded its inaugural “month” on a high note, following its initial two weeks of impressive performance on the mobile platform.
The figures for online casino betting in this report cover the period from the week ending on July 18 until the week of August 8.
During the last fortnight, DraftKings Casino received wagers amounting to approximately $21 million. Its most successful performance occurred in the third week, with the online casino witnessing a total handle exceeding $12 million.
Regrettably, it failed to maintain its momentum in the fourth week as there was a notable decline in betting, dropping to approximately $8.6 million.
Starting on August 1st, the final week commenced alongside the NHL playoffs and coincided with the NBA restarting its games, which were already in their third day.
The inclusion of these highly sought-after markets significantly increased betting numbers at sportsbooks in WV, resulting in record-breaking handle figures. Both physical outlets and online sports betting applications achieved unprecedented levels of activity, surpassing previous highs recorded during the sports shutdown.
The return of these sports was vital for sportsbooks, but it appeared to have had an adverse impact on online casino bets.
Despite everything, DraftKings Casino had a remarkable start to its journey. Within the initial four weeks of its launch, the online casino managed to generate an impressive revenue exceeding $800,000.
It is even more remarkable that these profits witnessed a consistent growth week after week. DraftKings achieved an extraordinary feat by surpassing $270,000 in online casino revenue on Aug. 8, establishing a new record.
We will now delve into the online casino betting statistics in WV and analyze potential conflicts that may arise from the sports calendar in the future.
WV online casino betting
The first four weeks of online casino gaming in the state were remarkable.
Strong betting persisted throughout the rest of the month following an initial handle of nearly $7 million in the first week.
The handle surged by 36% to exceed $9.4 million, subsequently witnessing another 29% leap in week three. During this period, DraftKings recorded an impressive $12,162,080.15 in casino bets, setting a new weekly record in the state.
Even though the dip in the fourth week may be disheartening, there are valid reasons behind it.
Not only were there popular betting markets at sportsbooks, but it was also the first instance in a while where these particular sports were made available. The NBA and NHL seasons were both put on hold in mid-March as a result of the COVID-19 pandemic, causing a halt in sports activities.
With the return of hockey and basketball, fans and bettors have finally regained the opportunity to watch and gamble on these games after a gap of over four months. Consequently, online casino figures experienced a decline for the week.
In addition, it is worth mentioning that both leagues have reached the peak of their seasons. The restarts have commenced with playoff series and games that carry significant postseason implications.
Moving forward, it remains to be seen how major sporting events will affect the betting activity on online casinos.
Despite any obstacles, the beginning in WV showed great promise.
Comparing it to the initial weeks of online sportsbooks, the $37 million in handle is on a whole new level.
In the initial month of its launch, mobile sports betting generated nearly $7.5 million in revenue. Collectively, the state’s active sportsbooks received less than $24 million in bets during that period.
It is evident that there is a significant demand for online casino gambling in WV. There is a strong possibility that betting numbers will continue to increase, particularly with the introduction of more operators in the Mountain State.
WV online casino revenue
During its initial four weeks, DraftKings Casino generated a substantial sum of money, amounting to nearly $825,000 in revenue. This promising beginning instills a great deal of optimism.
Due to the closure of the state’s retail sportsbooks and casinos caused by the coronavirus, WV is currently seeking betting revenue.
DraftKings Casino witnessed a noteworthy indicator of success as its revenue consistently grew week after week. Despite a decline in handle during the week of Aug. 8, the online casino achieved its highest profitability.
Over the past fortnight, earnings surged from approximately $207,000 to slightly above $270,000, representing a growth of over 30%.
In the event that the online casino manages to replicate this surge in production, DraftKings is expected to generate approximately $355,000 in revenue for the week.
The operator’s chances of reaching that figure would greatly improve with a higher betting handle. With sports now operating at full capacity, it is possible that the online casino will experience a steady rise in wagers moving forward.
Notable sporting events at WV sportsbooks
Although not all individuals who gamble at casinos engage in sports betting, there exists a certain degree of overlap. Many individuals who are fond of wagering on games like roulette and blackjack also find enjoyment in placing bets on basketball and football matches.
The return of NHL and NBA sports events in its third week played a significant role in elucidating the decrease in online casino betting.
Now that sports have fully resumed, it is possible that there will be no more significant fluctuations in sportsbooks that distract from casino gaming. Due to the prolonged suspension of these leagues, it is understandable that many bettors eagerly placed their bets on the initial few games.
This could be an indication of future events to come.
There are still multiple rounds remaining in both the basketball and hockey playoffs before champions are crowned. Additionally, MLB’s shortened season is approaching its midpoint.
There are numerous sports available for betting in the upcoming months.
Furthermore, it is worth mentioning that football may also take place during the autumn season. While certain college conferences have decided to postpone their games until the spring, the Big 12 and WVU football teams are still set to commence their season as planned next month.
The combination of the Mountaineers and NFL betting is bound to capture the interest of numerous bettors in the state.
It is highly likely that online casinos in WV will continue to thrive. Nevertheless, the weekly outcomes may fluctuate during the initial months due to the dynamic sports schedule, which presents numerous exciting betting opportunities.
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