Back in April, online casinos in the state of West Virginia experienced a drop in earnings. However, last month, the sites were able to bounce back and see an increase in earnings to well over $4.3 million. May was the most profitable month for online casinos in the state since the market started in July of 2020.
Four Online Casinos in Operation
The big month of earnings was helped along by four online casinos. For the first time, FanDuel WV, BetRivers Casino WV, BetMGM WV, and DraftKings Casino WV were in operation for basically a full month. Each of the operators was able to earn over $1 million during three weeks of the four-week month.
Overall, May was successful. Online bettors were out in full force, generating over $138 million in wagers. This amount is a new record for the total monthly handle in the state. The more than $4.3 million generated in revenues is a 14% increase when compared to April totals.
Leading the month was The Greenbrier, which provides licensing to FanDuel and BetMGM. For the month, the two online casinos were able to generate over $2 million. Hollywood Casino works with DraftKings and it was able to earn just over $1.9 million. This was the best month thus far for the brand.
Mountaineer Casino operates via the BetRivers site, generating just under $300,000. The online casino is a good bit behind its competitors for now when it comes to revenue earnings. It will take a concentrated effort for the brand to even get close to the same earnings.
Betting Handle Breakdown
In total, the overall handle jumped by 20% from April, generating over $138 million in bets. BetMGM and FanDuel generated almost $68 million which was only slightly above DraftKings $65 million in wagers.
Will DraftKings be able to reach the other two or will BetMGM and FanDuel continue to be the top operators in the state? Having two skins in operation, it seems that The Greenbrier will be hard to beat unless Hollywood Casino decides to find another operator to work with.
For BetRivers, the site generated almost $6 million in bets. This is a far cry from the other operators in the state. The brand will need to gain a much larger following if it is to keep up with competitors.
The May totals put the state of West Virginia past the $1 billion mark in total handle since launching in mid-2020. It is expected that the overall totals will increase now that the state has four online gaming sites in operation.