The legal sports betting industry in the United States saw soaring numbers in various jurisdictions in June. Iowa, Colorado, and West Virginia all saw increases in sports betting throughout the month. These three markets are in different portions of the country, showing that sports betting is heating up with football season approaching.
Large Handles in Iowa and Colorado
Iowa is the 32nd most populated state in America, but it’s loaded with operators. The mobile betting scene in the state has drawn a lot of interest from citizens, which was evident in June.
The sports betting handle in Iowa was $111.2 million. Playoffs for the NHL and NBA, along with MLB, helped the state have a solid month.
Colorado has offered betting for one year, but the state is developing into a top-tier sports betting market. It’s not New Jersey or Nevada, but there is an insatiable appetite for sports betting. Additionally, the legislation is favorable for operators.
Colorado is the 27th most populated state, but the framework has helped the state achieve sports betting success. In June, the handle was $249 million, which was extensive for the state.
West Virginia Shines
The West Virginia fiscal year ended in June, and the state ended the period on a high note. The total handle for the fiscal year was $518 million. West Virginia is excelling for a small state, especially in a region that includes Pennsylvania and New Jersey.
People in the state love to bet on all sports, which was apparent following June. The month’s sports betting handle was $29.2 million. This was a drastic rise from May’s $25.48 million.
More people turned to retail sportsbooks during the month. This was a promising sign for the tourism industry with football season coming. However, the mobile sports betting handle was still dominant in the state.
The June mobile sports betting handle rose 11.9%, totaling $20.56 million. In May, $18.4 million in bets were collected. Online sports betting was 68.7% of the month’s total, but this fell from 72% in May.
A state with strong mobile and competitive retail sports betting scene has the best markets in the United States. West Virginia is a small state, but it’s positive for the entire gaming industry that people are turning to casinos.
In addition to handle, the sports betting revenue also went up throughout the month. This is not always the case when the betting handle increases. The revenue has risen in West Virginia for the past three months.
In April, the handle was $1.95 million. Two months later, West Virginia sportsbooks netted $3.46 million before taxes. The total revenue for the fiscal year was $41 million. The state legislature earned $294,629 from taxes. This was a decent increase from May when the state collected $228,485 in taxes.
West Virginia’s iGaming handle also increased by 26.8% to $175.21. This will likely fall with football season approaching and bettors allocating their money to different funds. Nevertheless, this was positive news for the state.
West Virginia is now back to ground zero in the new financial year, but projections show that it will be a lucrative year.