In the U.S. gambling industry, football season is one of the most profitable time of the year for sportsbooks. Thus, it’s no wonder that Sportsbook Revenue are Up in West Virginia for the month of October. West Virginia made sports betting legal in August of 2018 and so far, the state is happy with the results.
According to the West Virginia Lottery Commission, the market revenue for the month of October was a total of $4.6 million. Furthermore, players spent a total of $29 million on sports betting at sportsbooks and mobile sports betting applications.
In addition, gambling analysts say that the boost in revenue is because of an increase in mobile sports betting usage.
Sportsbook Revenue are Up in West Virginia – Breaking it Down
For West Virginia, this is the second month in a row that sports betting revenues are up. According to Sportsbook Pay Per Head providers, betting at physical sports betting outlet was the most profitable. This is because WV made $2.7 million in revenue from sportsbook outlets with $16.6 million in total bets for October.
However, the increase in mobile sports betting made the revenue go up by $1.8 millions and a $12.7 million handle.
According to sportsbook software providers, 5 sportsbooks have licenses to operate in West Virginia. However, two of these sportsbooks (Mardi Gras and Wheeling Island) are currently not operating because of a license suspension.
Penn National Gaming’s Hollywood Casino remains in the lead as the top sportsbook in West Virginia. This is because they took $19.1 million sports bets and made $3.5 million in revenue.
On the other hand, Greenbrier also did well with $552,011 in wagering revenue from taking $5.8 million in bets for the month. On an interesting note, the biggest source of sports betting income for Greenbrier came from mobile sports wagering. This is because they made $519,380 in mobile wagering revenue and only $32,631 from their retail sportsbook.
William Hill sportsbooks in the Mountaineer Casino came in third place with $535,361 in revenue. However, they still do not offer mobile sports betting.