West Virginia Sports Betting Revenue Rises 78% to $28.4 Million in August
The end of August brought a rise in sports betting activity in West Virginia, coinciding with the return of college football. The West Virginia Lottery announced a total sports betting handle of $28.4 million for the last month.
Fifth Consecutive Month of Double-Digit Holds
Sports betting operators in West Virginia achieved double-digit hold percentages for the fifth month in a row, reaching a 14% hold in August. This rate places the state among its top five all-time highs.
The total sports betting handle of $28.4 million marks a 42.7% increase from the same month last year and a 35.9% rise over July’s handle.
The state’s revenue from sports betting reached $4.1 million, pushing the annual total to over $30 million, which marks a 78.3% increase compared to August 2023, with month-over-month profits up by 46.4%.
Dominance of Online Sports Betting
Online wagering contributed significantly to the state’s handle, accounting for $25.1 million of the total bets placed and generating $3.4 million in operator revenue.
In August, online operators collectively earned $19.7 million in revenue, marking their fifth straight month of growth. This amount is just below the all-time high of $20 million recorded in March.
With both college football and the NFL season underway in September, industry analysts expect online sports betting revenue to surpass previous records. The renewed interest in football is projected to drive higher wagering volumes in the coming months.
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