During the month of March, the online casino market in West Virginia achieved a new record by generating nearly $4 million in revenue, indicating a continuous growth in the Mountain State.
In February, the state’s online casinos achieved a weekly earning exceeding $1 million. However, in the following month, they surpassed this achievement twice. On March 20, they set an exceptional record by generating over $1.2 million in profits within a single week.
Throughout the entire month, the revenue of WV online casinos has consistently remained above $830,000, with seven consecutive weeks of earning at least that amount.
What makes this growth remarkable is that currently, there are only two mobile options available. DraftKings Casino WV and BetMGM Casino WV dominate the entire market, which was introduced in July of last year.
In March, they collectively received over $123 million in online casino handle, surpassing their previous month’s earnings by over $6 million.
The weekly handle surpassed $30 million on two occasions, marking a significant increase from its previous achievement of doing so only once.
Let’s take a closer look at the online casino betting figures for the entire month of March.
WV online casino March revenue
Compared to February, there was a 14% increase in revenue in March, amounting to over $3.9 million.
Although the beginning of February was sluggish, March stayed steady from start to finish.
BetMGM continued its revenue dominance over DraftKings for the second consecutive month, surpassing them with a substantial margin. The online casino achieved an impressive revenue of over $2.2 million, while DraftKings lagged behind with a mere $1.7 million.
BetMGM experienced consistent revenue streams throughout March, with notable high-volume weeks. On two separate occasions, specifically March 20, it generated substantial earnings exceeding $500,000, reaching a remarkable profit of approximately $725,000.
However, DraftKings’ weekly revenue never surpassed $500,000. Its highest earnings were also recorded during the week of the 20th, generating nearly $490,000.
After a period of catching up, BetMGM has finally achieved parity with its competitors in WV. The operator surpassed DraftKings in revenue for the first time in February, indicating the start of a promising streak in March.
In general, it appears that the market is moving in a positive direction. Having achieved earnings exceeding $1 million in the final weeks of both preceding weeks, April has the potential to be an even more significant advancement.
It is possible that several other online casinos in WV will come closer to joining and expanding their mobile offerings as well.
WV online casino March handle
Last month, the online casinos in the state experienced a successful period in accepting wagers. They accumulated a total handle of over $123 million, marking a 6% increase compared to betting figures in February.
While WV casinos did not achieve a new record for weekly handle, they came very close. The amount of approximately $38.8 million received on March 20 fell only $600,000 short of their highest week ever.
In spite of generating lower revenue, Hollywood Casino and its DraftKings app secured the leading position for handle, surpassing $68 million in total for the month of March.
The Greenbrier and BetMGM collectively generated approximately $55 million in handle for the month.
Although BetMGM has made progress in narrowing the gap in recent months, it is evident that there are still areas that require improvement. It is worth mentioning that DraftKings was the initial player to enter the market, giving them a competitive advantage.
If BetMGM manages to match DraftKings’ betting activity, its revenue splits have been so remarkable that it could reach unprecedented heights.
DraftKings had a weekly revenue of nearly $14 million, reaching its peak performance on March 20 when it received approximately $23 million in bets.
Despite BetMGM’s slightly lower average, it still had a remarkable week on the 20th, with the online casino’s handle nearly reaching $16 million.
As April begins, online casinos in WV have surpassed the milestone of $700 million in bets, and are now on the verge of reaching $20 million in total revenue.
Related Articles
