Trending
West Virginia’s 2019 decision to legalize online gambling has helped the state earn significant revenue, and the continued success of these operations has even helped other states push through legislation.
March saw West Virginia enjoy record-breaking revenue of $20.68 million. While the latest figures did not exceed this, May figures became the second highest in the state’s history at $17.9 million.
This could help the nearby state of New York push through legislation, with online casinos in New York, and many other states, only available via offshore operators.
Gambling expert Ruth Zammit explains that Senator Joe Addabbo proposed changes to current regulations through SB4856 which would see online casinos regulated in New York.
The success of operations in states like West Virginia, potential revenue streams, and the ability to regulate operators and protect consumers are all valid reasons why this bill could see success.
West Virginia currently has four licensees that operate physical and online betting facilities for West Virginians to enjoy.
The most successful licensee for the month of May was Hollywood Charles Town. The online wing of their operation is DraftKings Casino WV and they enjoyed revenue figures of over $7.4 million for the month.
The second most successful licensee of the month was Greenbrier who made more than $6.4 million with FanDuel and BetMGM under their umbrella.
Mountaineer and Mardi Gras are the remaining licensees, with Mountaineer making more than $3.3 million, and Mardi Gras figures coming in just under $700,000.
Online casinos have enjoyed great success thanks to the convenience they offer the modern consumer. Quick and easy transactions can be carried out on the move or at home, and dedicated mobile sites and apps are now able to offer immersive gaming experiences that rival those of retail casinos.
Emerging technologies have improved connectivity and the global 5G rollout has provided the majority of American adults with access to mobile devices with the platform to enjoy state-of-the-art games.
Game developers now have the ability to introduce better graphics and soundtracks, as well as AR and VR into gaming without the fear of it slowing down gameplay.
As well as traditional online casinos, crypto gambling is another market that has shown growth as more major businesses begin to recognize crypto as a valid and reliable payment method.
West Virginia is also home to a strong online sports betting market, making it one of the top U.S. destinations for online gambling. While sports betting in the state generates an impressive handle of over $33 million, revenue sits at just over 10% of this figure resulting in taxes of just over $370,000. In comparison, the state’s online casino tax dwarfed this figure by generating almost $2.7 million.
While May's figure didn't quite match that of March, it is showing positive signs and a small increase in month-on-month figures. State officials will be hopeful of more record-breaking months that will translate to tax dollars.