West Virginia online gaming revenues reached a record high of $19.1 million, up $1 million from last May's figures. All in all, when the revenue is compared to July of last year, it displays a staggering 77% increase.

West Virginia's online casino industry continues to gain momentum, with July 2024 posting a significant increase in revenue, further solidifying the state's position in the ever-competitive iGaming market in the US. After generating $17.9 million in May of 2024 along with $18.5 million in June of 2024, the state saw its revenue rise to $19.1 million in July of 2024, marking a $1 million increase compared to the previous May. This growth represents a substantial 77% increase compared to July 2023, making it the highest year-on-year revenue growth the state has experienced in nearly two years.

The $19.1 million in July 2024 would have set an all-time high for West Virginia's online casino revenue, if not for the substantial $20.68 million reported in March of 2024. Nevertheless, this continued strong performance suggests that West Virginia's online casinos are in the midst of one of their most successful periods since they first started.

Market leaders and licenses

As the state's online casino market continues to grow, competition among operators has apparently intensified. Charles Town and Greenbrier, two of the leading licenses in the state, remain neck and neck, with just a 1% difference in their market shares. These two licenses continue to dominate the market.

Meanwhile, Mountaineer Casinos, which partners with BetRivers and Caesars, is also making significant strides. In July 2024, Mountaineer announced an impressive revenue of $3.9 million, marking an all-time high for the licensee. This achievement has helped Mountaineer close in on a 20% market share, currently sitting at 19.4%. The strong performance of Mountaineer Casinos stresses the growing diversity of operators in the state, providing more options for online casino enthusiasts.

Despite the impressive revenue figures, one challenge that remains in West Virginia is the lack of detailed reporting on particular online casino performance. Unlike states such as New Jersey, which provides granular data on how individual online casinos are performing, West Virginia's reporting does not offer this level of transparency. This lack of detailed insight makes it difficult to pinpoint which specific online casinos are driving the state's revenue growth. However, the overall upward trend in revenue suggests that multiple operators are benefiting from increased player activity.

A look back at recent revenue trends

West Virginia's online casino market has seen consistent growth in recent months, with July 2024 marking another strong performance. Here is a look back at the revenue figures from recent months:

In July of 2024, the sector generated $19.1 million in revenue, preceded by $18.5 million for June. In May, the online casino market had $17.9 million in revenue, and in April of 2024, it also earned a noteworthy revenue of $17.8 million. In March, it earned its highest revenue of $20.68 million.

These figures show the resilience and upward trajectory of the market, despite fluctuations in monthly revenue. It's obvious that the March 2024 revenue of $20.68 million remains the highest on record, but with the current trend, industry analysts are closely watching the August 2024 figures to see if the market can surpass this milestone.

The evolution of West Virginia’s online casino landscape

West Virginia's online casino market has come a long way since its inception, with several operators now offering a wide range of gaming options to residents. Here's a quick overview of when each online casino launched in the state:

BetMGM launched in August 2020 and is affiliated with Greenbrier, while DraftKings began in July 2020 in partnership with Hollywood Casino at Charles Town Races. Meanwhile, BetRivers opened in April of 2021 and is linked with Mountaineer, while Caesars also launched at the same time and is also affiliated with Mountaineer. FanDuel was the next operator to launch in May of 2021, and its affiliate is Greenbrier, while Golden Nugget opened later in the year, in October 2021. The next to begin operations was Fanatics in November of 2023, which is also linked to the Hollywood Casino, and last on the list is Betly, which launched in June of 2023. It is connected to Mardi Gras.

This diverse range of operators has contributed to the state's strong revenue growth, with each licensee bringing unique offerings to the market. The introduction of new players, such as Fanatics and Betly, has further expanded the market and provided more options for players.