West Virginia doubles sports betting revenue
The kick-off of the college and professional football league has helped West Virginia double its sports betting revenue in August.
US.- The West Virginia Lottery Commission released this week the sports betting report from August operations. The gambling regulator said that revenue during last month’s operations doubled the one from July.
The monthly statement submitted by the West Virginia Lottery, sports betting came in at US$153k, which is more than a 50% increase from the US$70k registered in July. Adjusted gross receipts passed the US$1.5 million mark, News and Sentinel reported.
“We saw the initial bump that we expected in sports wagering at the time football season started up,” said Lottery Director John Myers. “And we brought the mobile app on about the very same time.”
Myers added that while the numbers are not as high as expected, they will change as the football season progresses. “We do expect it to grow as more people are educated on how to get on and do the signup,” Myers said. “The FanDuels and DraftKings of the world are doing a lot of advertising and things to do that educate.”
This month’s estimations
The Virginia Lottery financials for the September 6-8 weekend show sports betting mobile app revenue reached US$28.2k. Furthermore, it explained that upsets on NFL Sunday costed major losses for operators, which would’ve had higher revenues otherwise.
“The total handle was up with the start of the football season, as projected. And we expect the mobile app play to grow in future weeks,” said Myers.
