One of the busiest legal sports betting months of the year didn’t bring increased action to the Mountaineer State.
The West Virginia Lottery announced earlier this month an October handle of $42.6 million. It wasn’t what operators were hoping for following a slow summer.
While September figures showed signs of life, October represented 14% less handle than the previous month, despite the NFL, college football, MLB playoffs, NHL, and NBA coinciding. The handle also fell 32% year-over-year.
While action slowed, revenue rose. Thanks to an impressive 14.3% hold for online sports betting operators and retail sportsbooks, profits jumped 28% month-over-month to $6.1 million in October.
Revenue was about 9% less than the amount sports betting in West Virginia brought in for the same month in 2022, but the win rate jumped over 3.5 points. The Mountaineer State generated $521,019 in tax revenue from sportsbooks.
Online operators claimed 88% of the total handle and $5.7 million of the revenue from a 15.2% hold. Retail sportsbooks produced an 8.4% hold on a handle north of $5 million.
Greenbrier shines online, loses in retail
The Greenbrier, which is tethered with FanDuel, BetMGM, and Golden Nugget, recorded an online handle of $19.2 million in October.
Charles Town’s partners DraftKings, PointsBet, and Barstool Sportsbook, which transitioned this month to ESPN BET, took in $19.2 million in West Virginia sports betting handle.
Caesars and BetRivers brought in $2.2 million in wagers to Mountaineer Casino.
On the retail side, Greenbrier finished with a loss of over $110,000. Charles Town had the highest handle with $2.4 million wagered while Mountaineer enjoyed a 26% hold that produced $218,000 of revenue.
