iGaming is one of the fastest-growing entertainment industries in the world. For the unaware, iGaming is a catch-all term, encompassing online casinos, poker rooms, bingo sites, and sportsbooks. In other words, anything that falls under the banner of online gambling also belongs in iGaming.
Though the industry is growing very fast, it is important to remember that it is still relatively new. That means that many countries, and even states are still trying to figure out the best ways to govern the industry. However, some states have figured it out faster than others.
iGaming in the USA
It is essential to note that iGaming is not fully embraced in the United States yet. In 2019, the US government passed a federal law, that relegated online casinos to state governments. In other words, the laws regarding iGaming vary from one state to the other.
As of 2023, most US states have no laws regarding online casinos one way or the other. This means that residents of those states are free to play at offshore websites. However, there are no websites that operate outside of those states.
Some states have outright banned the practice, while others have fully embraced it. In 2023, there are only six states that have legalized online casinos in some form or another:
- New Jersey
- Pennsylvania
- West Virginia
- Michigan
- Delaware
- Connecticut
Out of the six listed, New Jersey was the first to hop on the bandwagon, and therefore, they have the biggest iGaming industry in the USA. However, what we are focusing on in this article is West Virginia’s iGaming industry, and how it compares to the rest of the USA.
iGaming in West Virginia
The first thing to discuss when talking about online gambling in West Virginia is the platforms available to residents of the state. While iGaming is legal, all WV online casinos must adhere to some laws, restrictions, and conditions. Let us look at the legal venues for gambling in West Virginia.
- Sports Betting
By far the most popular option for gambling in the USA, sports betting is legal in West Virginia. Bettors can access online bookies freely, as well as go to land-based shops. As of 2023, online sportsbooks are legal throughout most of the USA as well, and the sports betting industry in America is pretty successful.
- Online Casinos
West Virginia is among the first US states to legalize online casinos. The state government passed a law in 2019, which allowed residents of the state to access and operate slots websites or online blackjack games. Gambling is also legal in land-based establishments.
- Poker
We couldn’t move on without bringing up one of the most popular gambling games in the world. Poker websites are free to operate in West Virginia. However, it is worth noting, that residents of the state can also visit many of the land-based poker rooms peppered throughout it.
How Much is the WV iGaming Industry Worth?
Legality is one of the most important matters when it comes to iGaming. However, the next thing to discuss is the money side of things. In 2023, there are plenty of ways to make money, both online and offline. And though some consider online casinos as a good way to do it, we wouldn’t recommend that you view gambling as a money-making option.
After all, the old adage says “the house always wins,” and taking a look at WV’s iGaming revenue certainly emboldens that claim. Between 2021 and 2022, West Virginia made $1.178 billion in handle and close to $34 million in revenue off of online casinos. If you think it ends there, you’d be sorely mistaken.
Just a year later, those numbers shot drastically up. WV made $2.58 billion in handle and almost $90 million in revenue only a year later. In other words, the handle amount doubled, while the revenue amount almost tripled, in less than a year. That is certainly impressive for any industry.
While we can’t say how much money has been produced from gambling in 2023, experts believe that the revenue has likely increased. That would certainly track, considering iGaming has become a lot more popular, not just in West Virginia, but the United States as a whole.
How does the WV iGaming Industry Compare to the Rest of the US?
West Virginia’s iGaming industry is one of the top in the United States. In part, we have the law from 2019 to thank, which legalized many forms of online gambling that are simply illegal in other states. For example, poker, blackjack, and online casinos, while legal in WV remain either illegal or in a grey area in a huge part of the country. It is, therefore, understandable that the WV iGaming industry is one of the best.
However, how does it compare to states where online gambling is also legal? New Jersey or Pennsylvania for example. Well, when it comes to New Jersey, West Virginia really can’t compare. In 2022, New Jersey’s online gambling websites generated $1.66 billion in revenue. Indeed, New Jersey has the most successful iGaming industry, solely due to the fact that they were the first to jump aboard.
On the other hand, Pennsylvania’s industry is also going strong. In 2021/22, Pennsylvania’s online gambling platforms raked in just over $1 billion. While not as big as New Jersey’s iGaming industry, Pennsylvania’s is just barely behind.
Will the WV iGaming Industry Continue to Prosper?
Since getting legalized in 2019, online gambling in West Virginia has seen steady growth. It seems that every year, more and more West Virginians become interested in checking out games like poker, blackjack, slots, and more. According to expert analysis, the industry will very likely continue to grow in the future, and may even begin generating a billion in revenue in a decade or so.
However, will the WV iGaming industry ever compare to that of New Jersey or Pennsylvania? That is less likely. These states have an established industry, that has endured for years. While West Virginia might catch up in terms of the current numbers, those numbers are only going to grow in the future.
