States never want to see a drop in sports betting handle. A large handle usually yields more revenue, but this was not the case in West Virginia. The state’s handle dropped from April to May, but bettors were not as lucky during the month as revenue saw an unprecedented spike.
The May Numbers
West Virginia had an odd month in May, representing the numbers from the second to the 29th of the month. The handle dropped 3.8%, but the revenue rose approximately 38%. This is not typical for a state experiencing a handle decline.
The May handle totaled $25.5 million compared to the April number, which was $26.5 million. However, over a year, West Virginia has grown its handle by 412.6%, so the state is turning into a competitive market.
$1.1 million is a mild decline for the handle, which is nothing for the state to fear. This is especially true when the month’s revenue is observed. In May, sports betting revenue was $2.7 million, which was up 37.7% from April’s $1.95 million.
The year-to-year handle increase was 396.7% from the $541,188 mark twelve months ago. The state benefited from the revenue in terms of taxes. Sportsbooks had to deal $228,485 to the state.
West Virginia only collected $165,922 in April. The gaming industry wants the handle to grow, but revenue is more critical, so this was a successful month for the state.
Mobile Handle Reigns Supreme
Mobile betting has helped West Virginia make exponential increases over the past year. The mobile handle still dropped from April to May, but it was still how most of the bets were placed in the state.
The mobile handle was down approximately 1.5 million from April. $18.382 million was wagered from mobile devices in West Virginia. Mobile wagers accounted for 72% of the handle throughout the month.
iGaming Wagers on the Rise
The overall sports betting handle declined, but iGaming has gone up in West Virginia. This is surprising because sports are in full effect, with championship season occurring in the NBA and MLB. Although, people have been drawn to the array of iGaming contests that the state offers.
The iGaming handle increased 16.7% to $138.2. Revenue also rose as it did for sports betting, but not as significantly. Revenue was heightened by 14%, from $3.8 to $4.3 million.
FanDuel launching its online casino thanks to a partnership with The Greenbrier has caused attention for the iGaming industry in the state. The FanDuel app was the fourth to go live, and it features slots, blackjack, roulette, and other popular casino games.
The site is available to download on iOS and Android devices. FanDuel is one of the most popular sportsbooks in the state, so the online casino has gained traction from betting fanatics.
The Greenbrier and FanDuel crafted their deal in April. It followed the launch of BetRivers online casino. BetRivers offers free bingo games for real prizes, but the consensus is that FanDuel reigns supreme in the online casino category.
iGaming numbers are expected to continue soaring in the state.