Summary
- A total of $86.5 million was earned this year in revenues.
- Taxes are set at 15%
- Tax payments help to fund education, senior needs, tourism, and pensions.
West Virginia is the smallest state in the US that offers players a chance to enjoy online casino gaming. The state was the fourth to enter the market and continues to do well despite its smaller market.
Gaming regulators recently unveiled the revenue and tax totals for online casino gaming and sports betting for the fiscal year, showing $13 million in tax payments from bets.
Details on the Fiscal Year Revenues
For the most recent fiscal year, online gaming operators in WV were able to bring in just over $86 million from $2.6 billion in wagers. Taxes are set at 15%, so this gave almost $13 million in privilege taxes to the state plus an additional $3.9 million from sports betting.
Online gaming is operated in the state by four racinos and the Greenbrier Casino. From the tax payments made by the operators, $10.9 million going towards educational needs along with senior care, and tourism. $110,000 went towards pension payments.
When it comes to sports betting, the state offers options via mobile and retail services. For the fiscal year, the state recorded $320 million in mobile bets while retail wagers came in at $57 million. Reports showed that sportsbooks earned $2.8 million from the bets from February and the 10% privilege tax took $278,000.
Online Operators in West Virginia
There are several big-name online gaming operators offering services in West Virginia, despite the small market size. For online casino gaming, players can access PointsBet, BetMGM, Caesars, BetRivers, FanDuel and DraftKings.
The same operators also offer sports betting services so players can access gaming options via one platform. The sites or mobile apps have a sports betting and casino section, making it easy for players to access betting options.
Each operator offers a full list of games and betting features within the casino and sportsbook. Promotions are also on the table, giving players an opportunity to earn incentives and extras.
Additional brands offer online casino and sports betting solutions in other states, but the WV market has stayed relatively the same. There does not seem to be any more room for operations to gain a market share and few land-based venues to partner with initially.
In states like New Jersey and Pennsylvania, the markets are much larger due to the number of land-based casinos and available licenses per operator. Even though West Virginia is a smaller state, the iGaming market is still doing well, contributing to the needs of the state via large tax payments.
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