After being active for over four months, certain frontrunners are beginning to emerge in West Virginia’s sports betting scene.
Local casinos in West Virginia feature a total of five sportsbooks.
- The Charles Town Races, now known as Hollywood Casino.
- The establishment is known as Mountaineer Casino, Racetrack and Resort.
- The Greenbrier is home to The Casino Club.
- Mardi Gras Casino and Resort is being rephrased as “The Casino and Resort of Mardi Gras.”
- Wheeling Island Hotel
In addition, BetLucky.com, a mobile sports betting app that was launched in December 2018, is making a significant contribution to the figures.
As of the week starting on January 5, 2019, here is an overview of the revenue figures provided by the sportsbooks in West Virginia.
- Handle: $42.6 million
- Revenue: $5.5 million
- Taxes: $552,805
WV sports betting revenue leader
Since its inception, The Sportsbook at Hollywood Casino at Charles Town Races has been the first book to launch and has consistently remained at the forefront of revenue generation.
So far, this sportsbook holds the record for accepting over $1 million in sports bets within a single week, achieving this feat four times. Furthermore, it has received bets totaling more than $2 million on 13 occasions, with one instance surpassing $3 million.
Although it enjoyed a two-week monopoly on the sports betting market, the true advantage of its location is likely the key factor. Its close proximity to the borders of Virginia, Maryland, and even Washington, D.C. is likely contributing significantly to its dominance.
When reflecting on the recent revenue data, a few notable aspects become apparent.
- Since October 2018, the weekly revenue at Hollywood Casino has remained consistently stable, consistently exceeding $2 million.
- For the time being, the mountaineer firmly holds the second position.
- The revenue of Wheeling and Mardi Gras saw a remarkable increase, more than doubling, as they transitioned from their first week of operation (Dec. 29) to their second (Jan. 5).
- Greenbrier will remain at the bottom due to the current exclusivity of the FanDuel Sportsbook.
WV sports betting revenue for the week beginning Jan. 5, 2019:
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WV sports betting revenue for the week beginning Dec. 29, 2018:
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It is important to mention another noteworthy observation: Hollywood Casino experienced a notable decline in revenue during the week starting on January 5th.
On January 7, the College Football Championship took place, resulting in the payout of futures bets throughout the week. While it may not be the complete narrative, it certainly constitutes a significant component.
What about WV mobile sports betting?
As stated earlier, the state of West Virginia currently has only one mobile sports betting app called BetLucky.com. This app was introduced simultaneously with the opening of Mardi Gras and Wheeler properties and caters to both establishments.
The impact of mobile sports betting has fallen short of expectations, considering the outcomes seen in other states like Nevada and New Jersey.
The revenue report provides a breakdown of revenue for both retail and mobile sportsbooks, while the handle is presented as a consolidated figure.
The BetLucky.com app generated $29,581.96 in revenue during the week starting on January 5th and $18,965.14 during the week starting on December 29th for Wheeling Casino.
During the week commencing on January 5th, the BetLucky app generated a revenue of $6,665.50, while for the week starting on December 29th, it earned $24,507.52.
The market can expect a significant transformation in the sports betting revenue landscape with the imminent entry of industry leaders DraftKings Sportsbook and FanDuel Sportsbook.
With the inclusion of mobile revenue in the casinos’ sports betting revenue, Greenbrier is expected to make progress in the leaderboard. Similarly, DraftKings’ collaboration with Hollywood Casino ensures its dominance at the top for the foreseeable future.
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