Bettors in the Mountaineer State took advantage of March Madness wagering options.
The $52.1 million sports betting handle rose 34.3% in March compared to February, according to figures released by the West Virginia Lottery.
Behind a 9% hold, online and retail sportsbooks hauled in $4.7 million of revenue. That’s up 26% month-over-month, but the win rate fell more than two points.
Mobile wagering accounted for $46.6 million of the overall handle, and the online hold of 8.9% was lower than brick-and-mortar’s 10% win rate.
The Mountaineer State hauled in a little more than $400,000 in tax revenue.
Action rises
Improved month-over-month numbers was a welcomed sight in a state that generates the majority of its sports betting interest in football season. West Virginia University’s men’s team didn’t make the NCAA tournament last month, but the women’s squad reached the second round.
Still, it was a better March than previous year. The handle was 21% higher compared to the same month in 2023 while revenue was up 12% year-over-year.
The Greenbrier remains top dog
| Operator | March Handle | Revenue |
|---|---|---|
| The Greenbrier (FanDuel, BetMGM) | $23.1 million | $2.4 million |
| Charles Town (DraftKings, ESPN BET, Fanatics) | $20.1 million | $1.6 million |
| Mountaineer (Caesars, BetRivers) | $3.1 million | $130K |
| Mardi Gras (Betly) | $327K | $41K |
The Greenbrier, and partners FanDuel and BetMGM, generated $23.1 million mobile handle and built a $3 million margin against Charles Town’s DraftKings, ESPN BET, and Fanatics Sportsbook. The two casinos were only separated by $500,000 in February.
FanDuel and BetMGM combined to bring in $800,000 more in revenue for The Greenbrier, thanks to a double-digit hold. Charles Town’s partners produced a win rate below 8% for the month.
Mountaineer Casino posted an even worse hold of 4.3% as Caesars and BetRivers combined for $130,000 in revenue on a handle just north of $3 million. Mardi Gras’ Betly Sportsbook had the highest West Virginia sports betting hold of the month at 12.6%.
New iGaming mark
West Virginians can’t get enough of online casinos. The March iGaming revenue of $24 million was highest of all time and the first to reach $20 million in a single month.
Charles Town’s online casino hauled in a state-high $7.8 million in profits while The Greenbrier wasn’t far behind with $7.2 million of revenue.
