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West Virginia is a small state that benefitted from being one of the first places to allow both online and in-person sports betting following the repeal of the Professional and Amateur Sports Protection Act.

Most people probably wouldn’t peg West Virginia as a bigger sports betting market than New York, but currently, it is.

We analyze monthly West Virginia sports betting revenue reports to keep you informed with the latest financial figures and market trends. Let’s dig into some numbers and explore the business of sports betting in the Mountain State.

West Virginia Sports Betting Revenue: Month-by-Month

Sports Betting Dime monitors the growth of legal sports wagering by tallying monthly revenue reports from each state.

Here’s what each column represents:

  • Handle is the total amount wagered on sports.
  • Revenue reflects the gross gaming revenue kept by sportsbooks after paying out winnings.
  • Hold percentage shows how much revenue sportsbooks kept as a function of the betting handle.
  • State tax revenue displays taxes collected by the state and local jurisdictions.

The table below shows the West Virginia sports betting industry’s key financial figures from launch in September 2018 to date.

Month/Year Total Handle Revenue Hold Percentage State Tax Revenue
September 2018 $7,322,255 $2,129,235 29.08% $212,924
October 2018 $9,735,874 $1,010,246 10.38% $101,025
November 2018 $16,045,602 $1,161,375 7.24% $116,138
December 2018 $13,322,131 $2,247,152 16.87% $224,715
January 2019 $22,431,187 $1,746,233 7.78% $174,623
February 2019 $16,609,597 $171,089 1.03% $17,109
March 2019 $13,850,999 $1,597,521 11.53% $159,752
April 2019 $10,334,722 $554,880 5.37% $55,488
May 2019 $10,704,030 $937,065 8.75% $93,707
June 2019 $7,634,979 $379,228 4.97% $37,923
July 2019 $5,851,318 $682,213 11.66% $68,221
August 2019 $12,656,911 $1,549,585 12.24% $154,959
September 2019 $25,620,078 $3,755,760 14.66% $375,576
October 2019 $37,022,626 $3,156,830 8.53% $315,683
November 2019 $32,968,353 $2,289,056 6.94% $228,906
December 2019 $30,342,334 $2,322,915 7.66% $232,292
January 2020 $44,253,798 $3,651,273 8.25% $365,127
February 2020 $39,618,767 ($626,470) -1.58% ($62,647)
March 2020 $14,705,300 $1,101,454 7.49% $110,145
April 2020 $2,965,302 $155,058 5.23% $15,506
May 2020 $4,971,928 $541,188 10.88% $54,119
June 2020 $6,338,618 $567,836 8.96% $56,784
July 2020 $15,853,463 $1,573,845 9.93% $157,385
August 2020 $45,897,001 $2,337,229 5.09% $233,723
September 2020 $76,951,429 $4,603,811 5.98% $460,381
October 2020 $44,633,016 $3,742,779 8.39% $374,278
November 2020 $48,532,442 $4,407,576 9.08% $440,758
December 2020 $70,134,202 $6,466,132 9.22% $646,613
January 2021 $50,700,483 $3,976,358 7.84% $397,636
February 2021 $38,212,775 $1,364,161 3.57% $115,954
March 2021 $42,751,230 $3,889,447 9.10% $330,603
April 2021 $34,449,520 $2,844,020 8.26% $241,742
May 2021 $25,484,663 $2,688,065 10.55% $228,485
June 2021 $29,923,766 $3,466,223 11.58% $294,629
July 2021 $21,290,275 $2,295,743 10.78% $195,138
August 2021 $22,350,089 $1,993,383 8.9% $169,438
September 2021 $60,072,261 $7,141,066 11.9% $606,991
October 2021 $77,760,542 $3,876,503 5.0% $329,503
November 2021 $84,259,419 $7,107,970 8.4% $604,177
December 2021 $57,274,811 $4,144,869 7.2% $352,314
January 2022 $58,894,228 $4,098,138 7.0% $348,342
February 2022 $49,271,583 $1,954,999 4.0% $166,175
Total (since launch) $1,340,003,908 $105,053,038 7.8% $10,505,304

We’ll update this table with monthly figures provided by the West Virginia Lottery.

WV Sports Betting Revenue: Annual Financial Figures

The table below shows West Virginia’s annual sports betting handle, gross gaming revenue, and hold percentage, as well as state tax revenue collected since legalization.

Year Total Handle Revenue Hold Percentage State Tax Revenue
2018 $46,425,862 $6,548,008 14.10% $654,802
2019 $226,027,134 $19,142,375 8.47% $1,914,239
2020 $414,855,266 $28,521,711 6.88% $2,852,172
2021 $544,529,835 $44,787,807 8.23% $4,478,777

West Virginia is a small market, but it has grown steadily since its launch in September 2018.

WV finished 2020 with over $400 million in sports wagers placed. Year-over-year growth of 84 percent shows the industry’s resilience throughout the challenges of the COVID-19 pandemic. The state’s open access to convenient online betting options kept sports betting revenue trickling in while the industry was completely shut down in other jurisdictions for months at a time.

Latest WV Revenue News

Here’s a quick rundown of what we learned through the latest West Virginia sports betting revenue reports.

December 2021 – With $57,274,811 in total wagers collected through December, West Virginia closed out 2021 with another strong month for wagering volume. This figure could rise again as the NFL playoffs get underway in January 2022.

November 2021 – West Virginia set a new record for the second straight month, as the total handle hit $84,259,419 in November. WV sportsbooks collected over $7 million in revenue from an 8.4% hold rate.

October 2021 – The monthly sports betting handle reached new highs in West Virginia through October, as the state collected a record $77,760,542 in total wagers.

September 2021 – The start of the NFL season was exactly what the West Virginia sports betting market needed, as the state tallied a monthly handle of $60,072,261.

August 2021 – The monthly sports betting handle rose slightly in West Virginia through August, hitting a total of $22,350,089. Revenue declined to $1,993,383 after sportsbooks recorded a 8.9% hold rate. These figures will subsequently increase as the NFL season gets underway.

July 2021 –  West Virginia’s betting handle continues to decline. In July, sports bettors wagered just $21 million, the lowest figure in the past year. The return of the NFL and college football should bring an increase in betting volume in August and into the fall.

June 2021 –  West Virginia reports $29 million wagered on sports in June. The hold percentage (11.58 percent) was the highest it’s been since September 2019.

May 2021 –  West Virginia’s betting handle continues to fall, with just $25 million wagered in May. This is now less than a third of WV’s peak betting volume of $76 million in September 2020. We speculate this prolonged dip to start 2021 is in part due to the launch of online sports betting in neighboring Virginia.

April 2021 –  West Virginia reports its lowest sports betting handle since July 2020 with $34 million wagered in April.  This is less than half of peak betting volume in September 2020.

March 2021 – Bettors in West Virginia wagered $42 million in sports in March. Mobile betting continued to lead the way, with online wagers accounting for approximately 76 percent of the total amount handled.

Key Information about the Mountain State

It’s always important to consider the context when evaluating the sports betting industry. Here are some essential details to keep in mind when looking at the West Virginia market.

State Population (2020 Census): 1,793,716

In-state Pro Teams: None

Launch Date: September 1, 2018

Biggest Monthly Handle: $84,259,419 (November 2021)

Regulator: West Virginia Lottery

Platforms: Online and retail

Tax Rate: 10 percent

West Virginia Sports Betting Revenue Insights

While the road has been bumpy at times, West Virginia’s sports betting market has climbed steadily throughout the first couple of years since legalization.

The Mountain State was the fifth jurisdiction in the United States to launch legal sports betting and has benefitted from being among the first to market. That said, the ever-evolving US sports betting industry is becoming more and more competitive, and smaller states hold a decreasing share of the market.

Let’s explore a couple of themes that stand out when looking at West Virginia’s sports betting financial reports.

It Pays to be an Early Adopter of Online Sports Betting

West Virginia lawmakers were savvy enough to know the vast majority of sports fans prefer the convenience of online betting. The Mountain State was among the first to create a regulatory framework to provide safe and reliable online sports betting.

West Virginia’s “no bulls*#t” approach allowed for the quick launch of a market that has been bettor-friendly from the get-go. Most importantly, the regulations allow for open access to a wide range of wager types and convenient betting options.

The free-market approach has paid off in spades thus far. West Virginia generated $46,633,656 in sports betting revenue from June 2019 to January 2021. By comparison, New York, a state with more than ten times West Virginia’s population, generated just $22,122,017 in that same period. NY has twice as many casinos as WV but does not allow online betting, so the dramatic difference in revenue reflects the strength of online sportsbooks.

But WV Is Facing Headwinds in 2021

West Virginia had a strong finish to 2020, but its sports betting market has slowed at the start of 2021. The launch of legal online sports betting in nearby Virginia, which has a much bigger population, may impact WV. We speculate that previously, Virginian sports fans may have been driving across the border to place their wagers, which is no longer necessary.

West Virginia is facing more competition than ever before, and it will only get stiffer if other neighbors such as Maryland and Kentucky manage to go live with sports betting later in the year. Continued growth will require reaching new customers by converting casual sports fans into bettors and gaining wider acceptance for sports wagering amongst the general public.

West Virginia places no restrictions on college sports betting and allows wagers on eSports, which should help attract diehard fans from less progressive neighboring markets. However, we don’t expect WV to play as large of a role in the sports betting industry as it did in the early days.

Learn More About Betting on Sports in West Virginia

We’ll be following the latest developments in the West Virginia sports betting industry here at Sports Betting Dime.

We’ll keep you up to date with West Virginia sports betting info including which sportsbooks currently offer WV online sports betting in the state, sign-up offers, and the latest developments.

Learn more about West Virginia’s rules and regulations, bonuses, and more by visiting our in-depth guide to getting started with sports betting in the state. You can also check out other US states that offer sports betting to see which sportsbooks are available in other states. Visit our state-by-state sports betting revenue tracker to see how WV compares to other markets across America.

Have fun and enjoy the action out there!

Author Image

A lifelong athlete and sports fan who’s worked in sports for over ten years, Natalie brings a firsthand perspective and keen interest in sports business to her work. She’s excited to observe and analyze the future of the sports betting industry as it heats up.