West Virginia Sports Betting Handle Dips Drastically in February

West Virginia sports betting handle decreased significantly in February as the Mountaineer State generated $38.8 million in wagers across both retail and online betting. This was more than 20% down from January’s handle.

Like most other states, West Virginia felt the impact of a slow football season on sports betting with the conclusion of the Super Bowl.

February’s handle broke a streak of three straight months with more than $45 million in wagers in West Virginia: $56.4 million in November last year, $54 million in December, and $50.5 million in January this year. West Virginia also accepted more than $10 million in wagers during the Super Bowl week.

The state’s sports betting revenue dipped to under $4 million in February, a massive dip from January’s gross gaming winnings. Retail sportsbooks lost a little over $100,000 while online sports betting operators claimed $3.8 million in revenue last month.

Overall, the state generated over $300,000 in tax collections, which was well below January’s collection of over $500,000. West Virginia reports numbers weekly instead of based on calendar months, which usually results in a minor discrepancy with some months having five calendar weeks. These monthly totals may, therefore, not be exact and dependent on the prior metric of comparison.

WV Revenue in January

Last month, we reported that West Virginia managed betting handle of $46.4 million, a 24.4% decrease from December’s numbers, with online betting apps comprising the majority of the wagers, with 89%, accounting for more than $41 million in handle.

“The state garnered approximately $6 million in the latest reporting period, marking a substantial 65% growth compared to the corresponding period in the previous year. This surge is particularly significant considering the slow start observed in the previous year when sportsbooks generated just under $4 million in January 2023,” we reported from January’s numbers.

WV Year-On-Year Growth in Tax Collections

While handle has remained almost consistent when compared to February last year, gross gaming revenue has increased for the state of West Virginia. In the first two months of this year, revenue has climbed to close to $10 million, more than 30% higher than this time last year.

Revenue has been hit by retail operators, who have had a tough start to the new year. Even through the course of February, these retail locations for sports betting combined to lose over $100,000.

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