West Virginia reported a new monthly revenue high despite a drop in handle from November. Although West Virginian players didn’t gamble as much as the previous month, the industry noticed an increase in revenue.
Let’s dive into West Virginia’s numbers for December.
A Look Into West Virginina’s Sports Betting In December
West Virginia sold $69 million in tickets in November and $66 million in tickets in December. Despite the drop, sports betting operators had a hold percentage of 13.18%. This was the fifth time in the past six months that the win rate has surpassed 10%. These numbers led sportsbooks to profit a record $8.6 million in revenue, exceeding the previous record of $6.2 million set in October 2022.
State tax revenue experienced a 57% jump from November thanks to the sportsbook revenue. Over $738k was generated for West Virginia state tax revenue.
According to West Virginia Lottery’s latest report, in December, West Virginians wagered $53,314,188.68 on sports. This includes retail and online betting options. The figure translates to a $16.53 million drop from November’s handle of $69.85 million.
The significant drop in month-to-month handle could be due to college football coming to a close. Leaving college football fans with only bowl games, there were fewer opportunities for placing bets (especially around the holidays).
In many US states where sports wagering is regulated, we’re beginning to notice a trend: sports bettors prefer to place wagers online over retail outlets. West Virginia is noticing that trend as well. Bettors in the Mountain State wagered $46,417,378.07 on their mobile devices in December. This is about $40 million more than the retail handle of $6,896,810.61.
Overview of December’s Sports Betting Numbers
- Total Revenue: $7,076,348.40 year-over-year and month-over-month increase
- Total Handle: $53,314,188 year-over-year and month-over-month decrease
- Hold: 13.18%
- State tax revenue: $738,000 month-over-month increase
Year-over-year Rise in Revenue and Online Handle
West Virginia saw a $1.93 million rise in sports betting revenue compared to December 2021’s figure of $5.15 million.
We also experienced a drop year-over-year in total sports betting handle. In December 2021, bettors wagered $57.6 million, which was $4.28 million more than December 2022’s figures.
The retail handle also saw a significant drop, decreasing by $4.94 million in contrast to December 2021’s $11.84 million.
A Look Into West Virginina’s Casino Gambling In December
West Virginina’s online and retail casino gambling industry followed a similar trend in December.
In December, West Virginia’s total retail casino revenue came out to be $7,044,436.80 for the month. The total for online casino gaming came out to be $10,281,924.40. The state saw a drop from November’s total revenue of $10,332,772.70, which was just $50,848.30 more than December.
During December, West Virginians gambled $300,648,752.06, and during November, they gambled $311,166,800.49. Overall the online casino gaming handle dropped by $10.5 million.
Compared to December 2021, West Virginia’s internet gambling industry saw positive development. In 2021 West Virginians wagered $223,879,339.08 on online casino gaming. In December 2022, we saw the handle increase by $76.77 million, a significant jump for the state.
Despite the positive growth the online gambling industry experienced year-over-year, the retail casino industry can’t say the same. West Virginia saw a $1.2 million drop in revenue compared to 2021’s total of $8,239,114.84 in revenue.
Overview of December’s Casino Numbers
- Total online casino handle: $300,648,752.06 (month-over-month decrease)
- Total online casino revenue: $10,281,924.40 (month-over-month decrease)
- Total retail casino revenue: $635,766.01 (month-over-month decrease)
- Most popular casino game: blackjack – $2,411,901 in revenue
- Highest grossing casino: Hollywood Charles Town – handle of $29.1 million
Mac Daniel is a Michigan native and freelance writer for PlayOnlineCasino and PlayOnlineSportsBetting. He has experience writing about a wide variety of topics, including healthcare, tourism, non-profit organizations, and most recently casino and sportsbetting news. To check out more of his work, visit: playonlinemichigan.com