Gambling in West Virginia has been given a major boost recently thanks to the legalization of online casinos, and sports betting is one of the biggest money spinners for site operators.
September proved this unambiguously, with revenues reaching new highs thanks to the return of the NFL and the immense amount of interest this generates.
The peaks and troughs of the sports betting market
Wagering over the course of the month across the state generated a total of just over $60 million, with this stellar figure representing a 168% month-on-month increase after the lackluster $22 million that WV’s gamblers put on the line in August.
As mentioned, the main reason for this stark difference between betting activities across both months is that the NFL season got underway and so there were a lot more high-profile games and events on which residents could place bets in September.
The summer is always something of a slow time for gambling services, with sports betting being particularly sluggish.
Thankfully the best West Virginia casino sites in this detailed guide here all offer plenty of other experiences alongside sports betting, such as table games and slot machines, so they are not solely reliant on one type of gambling activity to generate revenue.
Talking of revenue, it needs to be pointed out that the $60 million in total wagering during September saw records hit in this regard as well.
Casinos raked in $7.1 million thanks to their customers spending big on their sportsbooks, which is more than two and a half times as much as was earned the month before.
In short, the start of the football season is not just good for fans who have been missing seeing their favorite teams return to the field, but also for iGaming companies, and by extension for the state’s tax authorities.
More casino revenues means more dollars for public projects, as well as more jobs to help improve employment rates.
The importance of online and mobile services
While we have thoroughly established that the NFL can be credited with encouraging West Virginians to flock to sports betting services, this is definitely not the only reason that growth was seen in September.
A lot of the momentum in the market has been generated and preserved specifically because of online gambling services, with mobile betting being especially instrumental in getting more people involved.
Indeed mobile users accounted for the largest proportion of the total amount wagered during this period, with almost $46 million being channeled through apps and smartphone-friendly websites.
This is a 175% increase compared with August, and cements the idea that without the convenience of being able to wager from a portable device, the state’s sports betting success story would not be quite as noteworthy.
Examining the wider online casino ecosystem
The big boost to sports betting was not the only story to emerge from September’s WV gambling industry. Online play was up across the board, with a 63.6% monthly rise in total wagers to just over $232 million.
Revenues were around $6 million from this total take, increasing by over a third when August’s performance is taken into account.
As you can see, top casino sites are serving customers with cutting edge experiences across a range of platforms, and this is reflected in just how much money players are willing to set aside to spend on their pastime of choice.
Considering the differences between wagered amounts and casino revenues
You have probably noticed that there is a wide gap between how much is wagered on sports betting sites and more broadly across online casino games, and the actual revenues that the operators report.
This of course comes down to the fact that as well as taking cash from punters, casinos and bookmakers also pay out prize money to those who are lucky enough to win big.
Another aspect to think about is that even with revenues in the seven figures, lots of the casino operators are making much less profit than you might imagine.
This is because they are eagerly reinvesting the cash they make into marketing their products and services, as well as in providing bonuses and perks to entice players away from competitors.
Wrapping up
The strong position which WV’s gambling scene occupies at the moment is undeniable, and it is hard to imagine that further growth is not right around the corner.
So long as there are major sporting events, betting sites will make bank. And when customers arrive to wager on sports, they also stay to spend on the casino games.
