West Virginia April Betting Handle Dips 34% Month-Over-Month
West Virginia April Handle Drop: Handle Also Down from 2023
West Virginia sportsbooks accepted $34.3 million in wagers in April according to the state lottery, marking a 34% decrease from the previous month. The April handle in the Mountaineer state was also down 26% from the same time in 2023.
These figures aren’t necessarily a surprise given the fervor of March, a month highlighted by the NCAA men’s and women’s tournaments.
April is a bit lighter, though there’s still plenty of offerings for sports fanatics from the Masters to the NBA and NHL playoffs, as well as Major League Baseball.
While revenue dipped from $4.7 million in March to $3.6 million the following month, betting operators weathered those losses thanks to a 10.3% hold (up from 9% in March).
As West Virginia’s April handle drops, we break down what it means for bettors.
Decline in Tax Revenue
West Virginia collected nearly $302,000 in tax revenue in April. While that seems like a sizeable number, it was a decrease of nearly $100,000 from March.
Again, operators overcame those totals thanks to a strong hold. April marked West Virginia’s seventh double-digit hold in the last 12 months and 19th overall.
Mobile betting has been legal in West Virginia since Aug 2019, with several operators competing for top billing. Sports betting app leaders DraftKings and FanDuel headline the market, along with BetMGM and William Hill.
Although it’s not the biggest market, the Mountaineer State has regularly performed well enough to overcome West Virginia’s April handle dropping. The state’s proximity to large U.S. metro areas such as Baltimore and Washington, D.C., certainly has helped draw in bettors.
On top of that, West Virginia is one of only a handful states with legalized online casinos, including Connecticut, Delaware, Michigan, New Jersey, and Pennsylvania.
This form of gaming allows players to play many of their favorite games, such as video poker, blackjack, roulette, and dozens of different slots.
Proponents expect more states to adopt online casino gambling within the next year, as it has proven to be a strong source of revenue. However, it is also viewed as a more serious form of gambling, concerning some critics about its effects on addictive behaviors.
As such, state legislators recently introduced HB 5668, which would require gambling operators to release player data with academics such as West Virginia University for research purposes.
Greenbrier Top Brick-and-Mortar Spot
The Greenbrier, which is partnered with FanDuel and BetMGM, was West Virginia’s highest performing brick-and-mortar casino in April.
It generated a handle of $15.3 million, though that was still significantly less than the $7.1 million in March per betting stats.
It made up for that thanks to a 13.3% hold, as the difference in revenue was barely $400,000.
Charles Town (DraftKings, ESPN BET, Fanatics) reached $1.5 million in revenue. That was a $6 million decrease from March, though it still beat Mountaineer Casino Resort and Mardi Gras’ Betly Sportsbook.
In light of West Virginia’s April handle dropping, stay tuned for more updates.
For betting trends, odds analysis and more, visit Point Spreads Sports Magazine.
