Just recently, DraftKings was celebrating one month in operation via West Virginia’s online casino market. During that four week time frame, the brand has seen revenues steadily increase as players log on to play casino games. The brand was able to earn just under $825,000 for the month, which is a decent amount considering iGaming is new in West Virginia. The brand hopes they continue to grow as the industry gains steam moving ahead.
An Increase in Wagers
For DraftKings Casino in WV, the site took more than $37 million in bets for the month. During the first three weeks, the number of wagers continued to increase. Then, the bets peaked right before hitting $12 million. Betting dropped a bit in the final week, but still remained solid at over $8 million.
Over the next few weeks, we should see revenue changes as new operators get in the mix. However, for now, DraftKings has the monopoly when it comes to online casino gaming and they are doing well. They are also seeing great success in the mobile sports betting sector, which is a bonus for the brand.
According to Online Poker Report, during the four week time frame the online casino was first operating, a total of $50 million in wagers were made online. Of that amount, 75% came through the Casino of DraftKings. Around 20% were made via the sportsbook. Only 5% were made at competitor sites BetMGM and FanDuel.
Online Casino Gaming Reigns Supreme
While players are logging online to place sports bets, it seems that online casino games are the go-to option. Players love spinning the reels of slot games as well as playing table games like blackjack, craps, roulette and baccarat.
Several states offer online sports betting, but only a handful have online casino gaming, which has proven to be the more lucrative form of iGaming. Pennsylvania was the first to launch after New Jersey and Delaware were the only states offering online casino games since 2013. West Virginia is the latest state to go live and Michigan is not far behind. It will most likely be a few months though before Michigan launches its iGaming industry.
DraftKings is relatively new to the online gaming sector, having first launched a product in New Jersey at the end of 2018. However, at the time, they only provided an integrate option via the sportsbook. It would be another two months before a standalone casino app was launched. DraftKings went live in this manner in Pennsylvania first, then New Jersey.
Over the next few months, we shall see just how the casino continues to function in West Virginia. Will they continue to see an uptick in revenues and bets placed? Once competition launches, will DraftKings continue to be the top choice among players? It is certainly interesting to watch as this gaming giant gets started offering online gaming services in a new state! We will continue to follow the action and report on new revenues as they are released by gambling regulators in West Virginia.