The return of college football led to a late-August push that helped West Virginia sportsbooks enjoy handle and revenue increases compared to July.
The Mountaineer State’s sports betting operators also increased the run of double-digit holds to five consecutive months with a top-five all-time high win rate of 14.4%.
The West Virginia Lottery reported an August handle of $28.4 million, a 42.7% year-over-year increase and up 35.9% from July. Revenue of $4.1 million put the yearly total over $30 million and up 78.3% from the same month in 2023, while month-over-month profits increased 46.4%.
The Mountaineer State filled its coffers with $414,025 to put the year-to-date tax revenue total over $2.8 million. Online sports betting accounted for $25.1 million of the total handle and $3.4 million of the operators’ revenue.
College reigns supreme
West Virginia sports betting is highly reliant on college athletic competitions. Behind Week 0 and part of Week 1 games, the sport drove heavy action. The handle jumped more than $3 million from the first week of August to the final week.
The Mountaineer State’s five retail sportsbooks took in a combined $3.3 million in wagers, up from July’s $1.3 million handle. At The Greenbrier alone, wagering jumped from $23,000 before college football began to over $225,000 in the first week.
That helped helped fuel a wagering resurgence, and the sportsbooks cashed big. The online and retail hold combined was up more than a point from July, which was already an impressive 13.2%.
DraftKings takes in big bucks
| Operator | August Handle | Revenue |
|---|---|---|
| Charles Town (DraftKings, ESPN BET, Fanatics Sportsbook) | $11.8 million | $1.7 million |
| The Greenbrier (FanDuel, BetMGM) | $11.3 million | $1.5 million |
| Mountaineer (Caesars, BetRivers) | $1.3 million | $232,000 |
| Mardi Gras (Betly) | $220,000 | $15,000 |
August was another good month for Charles Town and its online partners DraftKings, ESPN BET, and Fanatics Sportsbook. The trio led the Mountaineer State in online handle with $11.8 million, up from July’s $8.4 million. A hold of over 14% led to $1.7 million in revenue.
The Greenbrier, partnered with FanDuel and BetMGM, was runner-up for the second consecutive month in the amount wagered after leading that category for the entire first half of 2024. Still, the online operators were just $500,000 behind Charles Town in handle and finished the month with $1.5 million in revenue.
Mountaineer’s partners Caesars and BetRivers didn’t capitalize on the uptick in wagering as the handle of $1.3 million fell 23%. Mardis Gras’ deal with Betly brought in $220,000 in bets and $15,000 in profit for the month.
