West Virginia sports betting experienced a decrease in February sports betting handle. This follows the pattern from January.
It appears that the handle correlates strongly to the amount of NFL and college football action, with the Super Bowl being the only football game to wager on in February.
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WV Sports Betting Handle Drops Another 16%
Posting a handle of $58,894,228 in January, West Virginia saw a 16.3% decrease in February with a handle under $50 million — $49,271,583.
With this downturn, the mobile sports betting handle from January to February also saw a drop of 14.3%, going from $48,141,086 to $41,234,097.
Although these figures were down when comparing the handle to February 2021, West Virginia experienced a dramatic increase, up 29.8% from the $38,212,775 from then.
WV Sports Betting, February vs. January
|Total handle||Mobile handle||Revenue|
|Change||Down 16.3%||Down 14.3%||Down 52.3%|
Note: West Virginia reports numbers weekly rather than by calendar month.
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Revenue and Taxes See 33% Drop
Perhaps one of the more interesting details of the month-to-month numbers was the sports betting revenue. Although the total handle saw a 16.3% decrease, the sportsbooks in the state took a massive hit revenue-wise, which also impacted the state’s taxes.
Compared to January, the February revenue was down 52.3%, bringing in $1,954,999 compared to $4,098,138.
With that, the state brought in $195,500 in taxes, a 43.9% decrease from the month before ($348,342).
West Virginia iGaming Handle Goes Up
West Virginia iGaming handle continues to climb, seeing a 15.7% increase from January to February.
After bringing in $192,135,878 in January, the state catapulted above $220 million in February with a handle of $222,235,429.
This handle increase also reflected the uptick in revenue, with iGaming outlets collecting a combined $8,013,328 in February instead of $6,832,236 in January, a 17.3% increase.
West Virginia is one of six states to offer iGaming.
March Sports Betting Handle Outlook
While the NFL and football, in general, seem to be a significant catalyst for the state’s total handle, there is a reason for optimism as the state head’s into March.
One of the more coveted sports tournaments, March Madness, should draw more sports betting than typical college basketball games.
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