Almost every single month, the online casino industry in West Virginia gains more momentum. The market is still pretty new, and players are getting to know more about what is on offer by signing up for a new player account. The West Virginia Lottery provided details on the industry’s earnings from January, which revealed a total of $2.8 million in earnings. This was a jump of around $250,000 from December. The earnings tend to vary each week, but for the most part, continual growth is seen.
Last month, it was DraftKings and BetMGM that earned the most, bringing over $575,000 to the table each week. During mid-January, the operators actually generated over $830,000 in just a seven-day period. DraftKings was the leader of the two for the month but BetMGM was close behind. The two only had about $60,000 between them when it comes to the difference in earnings.
Overall, bettors placed more than $100 million in wagers. Each week, the online casinos in the state took in $22 million or more. Since starting online gambling services back in July, the market has seen over $475 million bets placed. Earnings come in at over $12 million.
When it comes to revenues, the close to $2.8 million earned in January was around 10% higher than what was earned in December. Before January, the online casinos in West Virginia were only able to exceed $700,000 two times overall. Last month, the online casinos in the state were able to do it twice in the four-week period.
The amount spent by bettors continues to increase each month in West Virginia. BetMGM and DraftKings tend to stay in line when it comes to revenues, but DraftKings has more bets placed in the state.
In January, DraftKings saw over $65 million in bets placed. They are partnered with Hollywood Casino. BetMGM saw only $34 million in wagers, with its partner The Greenbrier. The month prior, DraftKings also saw around $30 million more wagered by players than BetMGM.
During the busiest week of the month, DraftKings saw $15.8 million wagered while BetMGM was able to take in $10.7 million wagers. For DraftKings, the brand has seen $10 million bets or more for a ten-week time span, consecutively.
So far, it seems that DraftKings has an edge. If they continue to take in more wagers each month, it should help the brand to stay on top as the big earner for the state when it comes to online gambling.
Right now, the market is quite small and there is not much competition. Both DraftKings and BetMGM have the upper hand when it comes to any other competitors as they will be established when any other competitors come into the state to offer services.
West Virginia is one of the latest states to launch online gambling options and they are still a relatively small market when compared to New Jersey or Pennsylvania. However, the state continues to see strong growth month after month, which shows that even when only a few operators are offering services, a market can still be successful.