In October, the online casinos in West Virginia achieved a remarkable performance, surpassing their previous record for monthly revenue. With earnings exceeding $6.4 million, they outperformed the previous mark by approximately $1.7 million.
The online casinos in the Mountain State not only generated a minimum of $1 million in weekly earnings but also recorded a revenue exceeding $2.1 million at the beginning of the month.
In September, there were two weeks where the earnings were less than $900,000. However, October showed significant improvement. Even its lowest week generated more than $1.2 million in revenue.
The new platform added to Caesars Casino WV by the state did not have a significant impact last month due to its short duration. Caesars was launched in late October and only contributed a few days of betting figures to the report.
It seems like a positive indication for November’s forecast.
For the month, WV online casinos witnessed a substantial rise in handle, as they accepted approximately $198 million in wagers, accompanied by a surge of revenue.
The increase in October amounted to approximately $19 million, surpassing the previous record set in September.
Casinos achieved an unprecedented milestone by surpassing $50 million in weekly bets on two occasions, after never having reached such a level previously.
Now, let’s delve deeper into the performance of every individual casino.
WV Online Casino Revenue, October 2021
In comparison to September, there was a notable increase of 37% in overall revenue.
The first week of October played a significant role in making the month profitable. It achieved a revenue of over $2.1 million, surpassing the previous weekly high from September 11 by approximately $400,000.
Earnings exceeding $1.7 million occurred solely on that one occasion.
After briefly falling to second place last month, The Greenbrier regained its position as the top contender in October. Its two betting applications, BetMGM Casino WV and FanDuel WV, generated nearly $3.6 million in revenue.
The two have made a remarkable recovery after being at a mere $2 million just a month ago.
The online options generated a minimum of $630,000 in weekly profits, with an initial amount of nearly $1.5 million at the start of the month.
Hollywood Casino, along with its DraftKings WV counterpart, secured the second position this time, with earnings of approximately $2.1 million, which were almost identical to the previous month’s results in September.
Despite not consistently reaching $500,000 in weekly revenue, DraftKings made up for it by generating nearly $700,000 during the week of Oct. 16.
Despite placing third, Mountaineer had a remarkable performance, witnessing a substantial increase in online revenue of approximately $230,000 with BetRivers Casino WV. Consequently, it ended the month on a high note, reaching a total revenue of $730,000.
Before October, the online casino fell short of achieving $200,000 in weekly revenue. However, in the previous month, it managed to surpass this amount on two occasions. This development is promising for Mountaineer as it indicates that the collaboration with Caesars could potentially lead to even higher productivity.
WV Online Casino Handle, October 2021
There was a significant increase in the state’s online casino handle, which jumped by $198 million, reflecting a 10% growth compared to the previous month.
With the exception of the initial two weeks, where the bets exceeded $50 million, there was never a period of low activity. Even during the worst week, the wagers still amounted to approximately $45 million.
It is highly probable that the revenue of WV casinos will continue to increase if they are allowed to persist in accepting such bets.
The Greenbrier continued its dominance in monthly handle, unsurprisingly maintaining its first-place position. It further widened its comfortable lead over competitors, with FanDuel and BetMGM collectively receiving over $107 million in wagers.
Last month’s figure falls short by approximately $12 million.
Both platforms earned a minimum of $23 million every week, with their highest combined earnings surpassing $30.5 million.
In October, Hollywood came in second place with a handle of nearly $71 million, falling behind the leader. It’s worth noting that last month’s performance closely mirrored that of September, both in terms of revenue and overall outcomes.
The wagers in October were approximately $160,000 lower.
DraftKings experienced a somewhat similar trend in their weekly breakdown, reaching an impressive milestone of over $20 million in revenue during one particular week.
Despite producing a significantly higher amount, Mountaineer ended up in last place for handle. The BetRivers app alone generated over $19.5 million, which is an increase of approximately $5.9 million compared to the previous month.
In October, the online casino’s weekly wagers surpassed $4 million on three occasions, a record previously unachieved. Furthermore, it achieved a remarkable milestone by surpassing $5 million twice, reaching a peak of approximately $5.8 million during the week of Oct. 16.
As mentioned, the introduction of Caesars in November is expected to narrow the distance between Mountaineer and the rest of the casinos in West Virginia.
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