West Virginia Generate Nearly $3.5 Million in Sports Betting Revenue During May
West Virginia Generate Nearly $3.5 Million in Sports Betting Revenue During May Pleas Subscribe For Daily Sports Betting News
Bet at MGM - IF YOUR BET LOSES, YOU’LL GET UP TO $1,000 BACK IN BONUS BETS - https://bit.ly/BetMGM1
Want To Place a Bet .. Download the Best Online Sportsbook! (IOS) http://bit.ly/453YUZG
Grab Barstool Sports Apparel @ The Official Barstool Store: https://bit.ly/barstool23
Bet On All The Big Games @ Xbet: https://bit.ly/xbetnow
First Deposit Bonus Up To $500 + $10 Casino Chip
Please Subscribe!
West Virginia’s handle fell for the second consecutive month, but an improved win rate helped legal sports betting operators generate nearly $3.5 million in revenue in May.Â
The Mountaineer State hauled in $31.9 million in wagers, which was once again down double digits month-over-month, but sportsbooks enjoyed a 10.8% hold in May that produced $294,361 in tax revenue — according to figures released by the West Virginia Lottery.Â
Revenue was up from April’s $2.8 million as the Mountaineer State settled into the football-less months of the calendar. Online sports betting sites made up $29 million of the handle as brick-and-mortar...
West Virginia’s handle fell for the second consecutive month, but an improved win rate helped legal sports betting operators generate nearly $3.5 million in revenue in May.Â
The Mountaineer State hauled in $31.9 million in wagers, which was once again down double digits month-over-month, but sportsbooks enjoyed a 10.8% hold in May that produced $294,361 in tax revenue — according to figures released by the West Virginia Lottery.Â
Revenue was up from April’s $2.8 million as the Mountaineer State settled into the football-less months of the calendar. Online sports betting sites made up $29 million of the handle as brick-and-mortar operators contributed $2.9 million to the total wagered. Online sportsbooks also produced a better win rate (11.1% to 8.4%).
Greenbrier edges mobile competition
Charles Town and its partnerships with mobile sites DraftKings, Barstool Sportsbook, and PointsBet led West Virginia sports betting with a handle of $14.2 million, but a hold of 8% produced revenue of $1.1 million.Â
That ranked second behind The Greenbrier, which used FanDuel, BetMGM, and Golden Nugget to enjoy a win rate of 11.6% on a handle of $13.3 million and a state-best revenue of over $1.9 million in May.
Mountaineer, which has partnerships with Caesars and BetRivers, produced a 5% hold on a $1.3 million handle. Lastly, Hollywood Casino at Charles Town generated West Virginia’s best retail handle of $1.8 million and made just shy of $200,000 on a near 11% hold. This article originally appeared on Covers.com, read the full article here
Source: https://www.covers.com/industry/west-virginia-sees-sports-betting-revenue-rise-may-2023
-
2:01
phenelopeorlova
1 year agoEngaging In Retail Gambling and Sports Betting
8 -
2:31
InfoWave
6 months agoOnline Casino Boom Drives Soaring Revenues in Sports Betting
8 -
4:00
SteveSipress
1 year agoHow To Profit From A Super Amount Of Sports Betting
1 -
1:49
Sports Steady Tv
3 months agoUnveiling the Truth: Is Sports Betting Really Profitable?
19 -
0:10
FosterFinance
1 year agoTOP 10 SPORTS LEAGUES BY REVENUE!!!
7 -
18:40
Kreyg
11 months agoHow to Calculate Fair Probabilities from Sports Gambling Payoffs
6 -
0:18
ketoburn1
1 year agoMake Money Sports Betting #makemoney #sports #sportsbetting
8 -
1:39
WEWS
6 years agoWill sports betting bring in the revenue state's are counting on?
1 -
4:02
Sports Betting News & Trend
1 year agoKansas Earns Biggest Tax Haul from Sports Betting Yet Amid Recent Concerns
5 -
5:54
Game On!
1 year ago $0.26 earnedHow to place a bet when new to sports gambling
928