
In the month of November, West Virginia’s online casinos experienced an exceptional period, amassing over $72 million in bets and generating $2 million in revenue.
In the Mountain State, the mobile betting apps achieved an unprecedented feat by recording their best performance to date. Following their online handle of approximately $53 million in October, the online casinos in WV experienced a remarkable 37% surge in the subsequent month.
In the state’s brief history of online casinos, November has surpassed all expectations and emerged as the most successful month. Surpassing the previous record set in September, November witnessed a remarkable surge in wagers, exceeding $61 million.
In this latest revenue report, online casinos not only exhibited a better performance but also demonstrated consistent improvement with each passing week compared to October.
More on WV online casinos in November
During the month of November, online casinos consistently received a minimum of $16 million per week, with their highest earnings reaching approximately $15 million.
During this period, both DraftKings Casino WV and BetMGM Casino WV achieved a new record for weekly online handle twice, setting a new benchmark.
They barely surpassed the previous record set on the week of Oct. 3, achieving approximately $17.6 million on Nov. 14. However, this number was dramatically surpassed when online betting reached over $22 million for the week ending Nov. 28.
In the state, DraftKings Casino accounted for approximately $44 million of the overall handle, signifying 61% of all online casino wagers.
BetMGM Casino’s handle came close to reaching $29 million, but fell just short.
Alongside the surge in betting numbers, there has been a corresponding rise in revenue for WV online casinos. They experienced their most profitable month, generating a staggering $2 million in earnings.
In each of the past three weeks, their revenue has reached a minimum of $540,000.
In November, the state secured approximately $260,000 in funding through total earnings.
We will now delve into the online casino betting statistics from last month and analyze the expected upward trend in the figures.
WV online casino: A closer look
Since its launch, the online casino handle in WV has exceeded $268 million in the first five months. The market has had a fantastic start and has the potential to expand further.
In the month of November, both DraftKings and BetMGM experienced a favorable performance.
DraftKings has demonstrated a slight advantage by being the first to go live in the state.
During each week of the month, the online casino came close to reaching a remarkable sum of $10 million. However, its two least prosperous weeks recorded a handle of approximately $9.6 million each.
In the last week of November, DraftKings surpassed its previous record of $12 million in weekly handle by taking in nearly $13.4 million in wagers.
Despite not matching this level of production, BetMGM had a successful month as well, with approximately $29 million in accepted bets, an increase of around $13 million compared to October.
Before November, BetMGM’s weekly handle had only reached $6 million for one week in the entire year. However, during November, it consistently surpassed that amount in every single week.
During the week of Nov. 28, The Greenbrier’s online casino app achieved a remarkable milestone by generating a record-breaking sum of nearly $8.7 million in bets.
Positive trends
While November being a better month than October is a notable fact, the trends observed in the past few weeks are particularly encouraging.
There is a noticeable increase in the number of people utilizing WV’s online casinos, and it is likely to persist.
As the holiday season arrives and the weather turns colder, individuals residing in the state may find themselves more inclined to place bets from the comfort of their own homes rather than making the trip to a physical casino.
Additionally, the ongoing updates to the existing vast gaming collections of online casinos are beneficial. With the introduction of more games and fresh titles, even seasoned bettors can discover something enjoyable.
In the near future, the market in WV is also set to expand.
After forming a recent partnership with The Greenbrier, Golden Nugget plans to launch its online casino in WV in the near future.
Online casino revenue
Last month, WV online casinos experienced a successful period as their revenue increased with a higher betting handle, aligning with the general trend where a greater betting handle typically results in more revenue.
The earnings for this month amounted to $2 million, which exceeded October’s earnings by approximately $400,000 and surpassed the previous record set in September by $200,000.
The revenue generated by online casinos in West Virginia amounts to more than $6.6 million, resulting in a state share of approximately $835,000.
Despite accepting more online wagers, DraftKings Casino faced strong competition from BetMGM in terms of revenue.
DraftKings made slightly more than $1.1 million in earnings, whereas BetMGM recorded approximately $900,000.
Although DraftKings received over 60% of the bets, its earnings accounted for approximately 56%.
During the month of November, the state’s inaugural online casino consistently generated over $200,000 in revenue every week. Notably, DraftKings achieved its highest performance during the week ending November 14, surpassing $340,000 in earnings.
In three out of the four weeks, BetMGM generated a minimum of $200,000 in revenue. Notably, its earnings continued to rise consistently throughout the entire month. Specifically, the online casino achieved profits exceeding $270,000 during the week of Nov. 28.
The performance of both online casino apps in the state has surpassed expectations. Consistently, for 11 weeks in a row, each app has generated revenue surpassing the six-figure mark.
DraftKings and BetMGM are well-positioned for long-term success, even with the potential entry of Golden Nugget Casino and other competitors, which may lead to a more saturated market.
Given that there are only two online casinos available, it is highly likely that they will be able to capture a significant share of the customer base in the state.
As the time passes without a new mobile app launch, the level of control for both apps will increase.
Considering the betting trends from the previous month, it appears highly probable that online casino wagering will experience significant growth in December.