West Virginia’s online casino market got off to a strong start in its first four weeks of operation.
According to the latest figures from the West Virginia Lottery Commission, West Virginians staked $37.2m on DraftKings’ online casino platform in its first four weeks of operation.
In terms of revenue, online casino gambling in the state of West Virginia generated $824,639.
Online casino gambling went live in West Virginia on 15 July with the launch of DraftKings’ standalone online casino app.
At the time of writing, DraftKings is the only operator in the state to offer online casino gambling in the state of West Virginia.
The state of West Virginia received $123,696 in tax revenue from the 15% gross revenue tax. Of the total tax revenue, $18,554 was used to cover administrative costs, while $1,051.44 went towards pension contributions. As a result of this, the state was left with $104,090 in tax revenue.
Looking closer at the figures
According to the state report, players wagered $6.9m over the first four days post-launch for the week ending 17 July. Online casino handle grew in the week ending 25 July after bettors in the state wagered $9.4m on online casino games.
The seven days ending 1 August was the best performing week for online casino gambling after bettors wagered $12.2m. Players then staked $8.6m on DraftKings’ casino platform for the week ending 8 August.
Although the last week saw a dip in handle, it was the best week for revenue with DraftKings generating $271,494 in online casino revenue.
Online casino gambling in West Virginia
In March 2019, the state legislature approved the WV Lottery Interactive Wagering Act legalising online casino and online poker sites.
DraftKings became the first operator to launch online casino gambling in the Mountain State in mid-July via a partnership with Penn National Gaming’s Hollywood Casino. With the launch of DraftKings’ app in West Virginia, the operator also offers online casino gambling in New Jersey and Pennsylvania.
Under the regulatory framework, each of the state’s land-based casinos acts as a primary licensee for online casino gambling. Like the state’s sports betting laws, this means that each land-based casino can only offer one online casino brand.
As DraftKings is partnered with Hollywood Casino, Penn will not be able to use its newly acquired Barstool brand for online gambling in the state.