June 18, 2024 – The West Virginia online casino market has somewhat cooled off following a record-breaking $20.68 million in March, but there was a tiny bump in May.

According to the West Virginia Lottery, the state's internet casinos have earned $17.9 million by May 2024. Its increase over April was a mere 0.007%. Comparing it to April, the rise was only 0.007%. Despite the little rise, this month's income from online casinos was the second-best in the state's history, only surpassed by March's $20.68 million.

Hollywood Charles Town, which owns DraftKings Casino WV, was the top licensee in West Virginia. Just that license brought in $7.4 million. Greenbrier, which houses BetMGM and FanDuel, is just behind them at $6.4 million.

Four Licenses Boost Virginia’s Overall State Revenue

Online casinos are doing well in West Virginia, where four licensees account for a sizable portion of the state's income. Hollywood Charles Town had the most money ($7.4 million), closely followed by Greenbrier ($6.4 million), Mardi Gras ($3.4 million), and Mountaineer ($0.7 million). The precise profits for every location are kept secret in accordance with West Virginia's reporting regulations.

Interestingly, online casino gaming has outpaced online sports betting in tax contributions. Despite online sportsbooks handling nearly $33 million, they yielded only $3.7 million in revenue, resulting in $370,762 in taxes.

Beating the $20.68 Million Mark

In contrast, online casinos generated $2.7 million in taxes, reflecting their substantial economic impact. Looking ahead to June 2024, West Virginia aims to surpass its previous revenue peak of $20.68 million, set in March, highlighting the growing influence of digital gaming in the state's fiscal landscape.

Online Casinos Surpass Sportsbook State Revenue

The significance of online casino revenue extends beyond mere financial metrics. It has notably surpassed online sports betting in tax contributions, despite sportsbooks handling nearly $33 million in wagers. The sports betting sector yielded $3.7 million in revenue, translating to $370,762 in taxes, whereas online casinos contributed significantly more with $2.7 million in tax revenue. This disparity underscores the growing economic influence of digital gaming platforms within West Virginia's fiscal framework.

Looking ahead, West Virginia anticipates challenging its previous revenue peak in the coming months. March's record remains a benchmark as the state aims to capitalize on the ongoing popularity and profitability of online casino gaming. The industry's status as a crucial contributor to the state's financial stability is further cemented by its consistent capacity to earn large tax income.

The regulatory landscape governing online gaming in West Virginia continues to evolve, with policies aimed at fostering growth while ensuring responsible gambling practices. The state's lottery authorities closely monitor revenue streams, albeit with some specifics of individual casino earnings undisclosed under current reporting guidelines.