West Virginia Sports Betting Off To Slow Start In 2024
The sports betting figures in West Virginia for the initial five-week phase of 2024 exhibited a decrease compared to the previous period of equal duration. However, it is important to note that the most recent report released by the West Virginia Lottery does not encompass the week preceding Super Bowl LVII.
According to the report, the total gross tickets written (amount bet) for the period from Jan. 1 through Feb. 4 amounted to $55.5 million. Out of this total, $48 million was generated from online betting while $7.5 million came from retail services. The report organizes the activity on a weekly basis.
During December 2024, the gambling activity in West Virginia reached a total of $65.9 million. Notably, the final week of the year witnessed a significant surge, with bettors wagering an impressive $12.6 million.
West Virginia has generated $348 million in sports bets for the fiscal year so far (covering the period from July 1, 2024, to Feb. 4, 2024), resulting in $3.6 million in tax revenue.
In 2018, West Virginia granted its approval for sports betting, becoming the fifth state in the country to take this step. Subsequently, online sports betting was introduced in December of the same year.
Breaking down West Virginia sports betting key figures
For the latter part of the 2024 calendar year, West Virginia recorded a taxable revenue of $8.6 million, while at the beginning of 2024, it dropped to $4.5 million. It’s important to note that these figures exclude the period from Feb. 5 to Feb. 12 and the 2024 Super Bowl.
In America, the Super Bowl stands out as the most significant one-day event for sports betting. The notable surge in numbers during the final week of the year is likely due to the presence of college football playoff games and prominent bowl games during that period.
In the beginning of 2024, West Virginia collected a total of $449,993 from the 10% privilege tax, with the state’s portion amounting to $382,494.
Why the dropoff in gambling revenue?
Given the limited number of sporting events in January, it is not surprising that the NFL playoffs, regular-season NBA games, and college basketball games are the most prominent ones.
Although West Virginia lacks a professional sports team to wager on, many residents have a soft spot for the Pittsburgh Steelers in the NFL. Unfortunately, the Steelers did not qualify for the playoffs.
Once again, it became evident that bettors in West Virginia showed a clear preference for online betting over in-person gambling. The online platform contributed $41.5 million more in bets compared to one of the five physical retail locations in the Mountain State.
January revenue highs and lows
The revenue report released by the West Virginia Lottery reveals a decline in numbers for all five retail sports betting operators.
In the initial five weeks of 2024, the Charles Town casino witnessed a total of $27.3 million wagered on sports. Notably, the casino resort experienced significant activity during mid-December and mid-November, with a staggering amount of over $12 million bet during those weeks alone. Comparatively, in the final five weeks of 2024, Charles Town recorded a higher betting amount of $32.8 million.
Over the initial five weeks of 2024, the Greenbrier resort recorded a total wager of $22 million, which was marginally lesser compared to the $23.8 million wagered during the preceding five weeks.
Since mid-August, the Mountaineer Casino experienced its first week of wagers under $1 million, while the total amount of tickets written since the beginning of 2024 reached $3.97 million.
Both the Mardi Gras Casino and Wheeling Casino experienced a similar trend. The Mardi Gras Casino recorded $853,000 in bets, marking its lowest figure since late summer. Similarly, Wheeling Casino’s total of $761,000 is also comparable to its late-summer performance.
During late summer, the sports calendar becomes relatively less packed, featuring only NFL preseason football and Major League Baseball.