West Virginia's June Sports Betting Handle Falls 15.7% Year-Over-Year

West Virginia's June Sports Betting Handle Falls 15.7% Year-Over-Year Pleas Subscribe For Daily Sports Betting NewsShow more

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West Virginia’s steady decline in legal sports betting continued for the third consecutive month.
The Mountaineer State saw a 12% month-over-month drop in handle to $28.06 million in June, according to figures released by the West Virginia Lottery. This marks a 15.7% decrease from June 2022 wagers. 
Online and retail sportsbooks brought in a combined $2.61 million, down 25.4% from May. The hold fell from 10.8% the previous month to 9.3% in June. 
Operators in West Virginia paid out $261,000 in taxes in June, down from $294,361 in May. With the fiscal year coming to an end, the state made...

West Virginia’s steady decline in legal sports betting continued for the third consecutive month.
The Mountaineer State saw a 12% month-over-month drop in handle to $28.06 million in June, according to figures released by the West Virginia Lottery. This marks a 15.7% decrease from June 2022 wagers. 
Online and retail sportsbooks brought in a combined $2.61 million, down 25.4% from May. The hold fell from 10.8% the previous month to 9.3% in June. 
Operators in West Virginia paid out $261,000 in taxes in June, down from $294,361 in May. With the fiscal year coming to an end, the state made $5.3 million in taxes, up 18% from the previous period.  Online sports betting sites made up $25 million of the Mountaineer State’s overall handle and $2.54 million of revenue for a 10% hold. Retail brought in a handle of $3 million but produced just $66,057, including a loss of $134,827 in a single week, for a win rate of just 2.2% for June.
Greenbrier produces 12.2% win rate
Charles Town, which is partnered with DraftKings, Barstool Sportsbook, and PointsBet, produced the highest mobile handle in West Virginia sports betting during June at $14.04 million. The $1.05 million revenue was second behind The Greenbrier, which used FanDuel, BetMGM, and Golden Nugget, to produce $1.4 million in profits on an $11.5 million handle to enjoy a 12.2% hold.
Mountaineer, which is powered by Caesars and BetRivers, claimed $113,672 on a handle of $1.46 million. 
Hollywood Casino at Charles Town recorded the highest retail handle of $1.5 million but only produced a hold of 4.4%. This article originally appeared on Covers.com, read the full article here
Source: https://www.covers.com/industry/west-virginia-handle-sports-betting-falls-year-over-year-june-2023