West Virginia Operators Record Third Consecutive Double-Digit Hold in June

The West Virginia Lottery recently reported revenue of $3.96 million on a handle of $33.5 million in June, giving sports betting operators an 11.9% hold. That follows win rates of 11.3% in May and 10.3% in April. 

The high hold was greatly helped by a 15.1% win rate for retail sportsbooks that produced nearly $628,000 of revenue, up 436% month-over-month, on a $4.1 million handle. Through partnerships with the Mountaineer State’s four land-based casinos, mobile operators generated $3.3 million of revenue on wagers of $29.3 million. 

The Mountaineer State filled its coffers with $337,447 of tax revenue in June. 

Rise in revenue  

Sportsbooks saw the June handle increase 19.4% year-over-year and 10.2% month-over-month, leading to a 52% rise in revenue compared to June 2023 and 15.4% higher than May. 

Sports betting operators would love to hit these marks when collegiate sports, big in the Mountaineer State, are in season, but revenue year-to-date surpassed $25 million in the first half of 2024, up 25% from this time last year. 

Historic hold 

The Greenbrier had a big month in both online and retail sports betting. Behind partners FanDuel and BetMGM, the casino generated a state-best $13.8 million in June with revenue close to $2 million, thanks to a 13.5% hold.

On the brick-and-mortar sportsbook side, The Greenbrier took in nearly $585,000 in wagers and kept over $443,000 for an absurd 75.8% historic hold. 

Through DraftKings, ESPN BET, and Fanatics, Charles Town came close to The Greenbrier with a June handle of $12.8 million. The trio combined to produce a 10.6% hold.  

Mountaineer Casino generated $2.5 million of the online handle through Caesars and BetRivers, but a 4% hold produced just over $100,000.