Revenue fell from $4.7 million in March to $3.6 million in April, but several sports betting operators in West Virginia survived the drop because of a 10.3% hold, up from the 9% produced in the previous month.
With only the men’s and women’s Final Four and championship games in April, a college sports-centric betting state endured a forseeable drop in handle.
The Mountaineer State hauled in a little more than $301,854 in tax revenue for April, down nearly $100K from March.West Virginia sports betting produced a double-digit hold for the seventh time in the last 12 months and the 19th time since mobile and retail wagering began combining to generate $11 million or more handles each month.
However, the month-to-month revenue difference was less than $400,000 as a 13.3% hold helped maximize profits. April wasn’t as good to Mountaineer Casino Resort as partners Caesars and BetRivers took combined wagers of nearly $1 million less and significantly fewer profits on a hold under 6%.
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