In January 2020, the West Virginia sports betting market thrived, experiencing its most successful month in terms of wager acceptance. Throughout the entire month, WV sportsbooks consistently achieved a handle exceeding $8.5 million every week.
Before January, the Mountain State had only experienced three weeks in which the betting handle surpassed $8 million. However, despite the conclusion of college football and NFL betting, sportsbooks managed to consistently attract wagers.
The total amount of sports bets accepted last month by books was $35,398,396.38.
Despite being slower than other states in transitioning to online betting, the first month of 2020 marked a significant shift for the state. WV’s online sports betting apps experienced a substantial surge in betting activity, surpassing the performance of retail sportsbooks in three out of four weeks.
In December, the combined mobile platforms of DraftKings Sportsbook and FanDuel Sportsbook constituted just approximately 46% of the overall handle in WV. However, this percentage increased to 56% in January.
While this falls short of the 88% share that online books in New Jersey acquire, it is certainly a positive move forward.
For the first time ever, the betting apps collectively received an outstanding sum of over $5 million during the final two weeks of each month.
With the introduction of new options, the trend of online wagering is expected to further increase. Currently, BetMGM Sportsbook WV has been launched under The Greenbrier’s license and is readily available for mobile betting.
In terms of revenue, WV sportsbooks also performed quite well, generating over $2.2 million for the month. Although online sportsbooks handled a greater number of bets, they earned slightly less than their retail counterparts.
Now, let’s delve into the January betting statistics and provide a glimpse into the upcoming months on the sports betting calendar.
West Virginia sports betting handle
In January, sportsbooks in WV experienced a significant breakthrough. It marked their most successful month yet, showcasing remarkable consistency.
In a span of one week, books were able to generate a minimum of $8.6 million in revenue, with three of those weeks surpassing $8.9 million.
In comparison to the previous month, the overall handle witnessed a significant increase of approximately $5 million. The total betting figures for the month of December amounted to $30,342,333.39.
Compared to last year, the overall handle has significantly surged. In January 2019, sportsbooks received $17,808,456.82 in bets. However, in 2020, the amount skyrocketed to over $35 million, reflecting a remarkable 99% increase.
Hollywood Casino set an impressive precedent with a significant lead, as its sportsbook successfully accumulated nearly $23 million in bets for the month.
Hollywood had never surpassed $5.9 million until January, despite previously achieving over $5 million in a week. However, in the month, it managed to exceed $5.9 million on two occasions.
DraftKings’ mobile betting app has contributed to a significant portion of its improvement. During the last three weeks of the month, the online sportsbook surpassed its retail book in terms of handle, thanks to over $11 million in wagers placed on its mobile platform.
Despite finishing in second place, The Greenbrier’s sportsbook managed to surpass $9 million in handle. It achieved impressive results, surpassing $2 million in three out of four weeks, and even reaching a new record during the week of Jan. 25, with approximately $2.9 million.
Contrary to Hollywood, The Greenbrier primarily relies on its online app, FanDuel, to generate the majority of its betting handle. FanDuel accounted for approximately $8.4 million, which equates to 91% of the total.
With a handle production of just under $3.2 million, Mountaineer Casino ranked last among active sportsbooks. The absence of a mobile betting platform has significantly restricted its performance.
In January, it did not manage to surpass the $1 million mark, despite achieving this feat three times within the last five weeks.
These are the rankings of WV sportsbooks based on their monthly handle.
- The Hollywood Casino has a revenue of $22,907,915.00, followed by The Greenbrier with $9,300,561.86. The Mountaineer Casino has a revenue of $3,189,919.52, while both Mardi Gras Casino and Wheeling Island have recorded no revenue.
Our upcoming report will include the figures representing the reopening of betting windows at Mardi Gras and Wheeling Island, just before the Super Bowl.
WV sportsbooks revenue
Sportsbooks had a profitable month in January due to a substantial amount of betting. Although they suffered a loss of around $240,000 during the week of Jan. 25, they still managed to earn over $2.2 million throughout the month.
In January, the week starting on January 11 marked the pinnacle of success for them, being not only their most outstanding week but also one of the most lucrative in their history. The revenue accumulated by sportsbooks during this time surpassed a remarkable $1.3 million.
Although this month was of good quality, it fell short of the revenue generated in December. In the previous month, books earned approximately $100,000 more, totaling $2,322,915.00.
Naturally, revenue numbers can vary significantly and may not always provide the complete picture, but this January showed a considerable improvement compared to the previous year. The revenue of over $2.2 million represents a significant increase of 175% compared to the $802,167.45 earned in 2019.
Hollywood Casino emerged as the revenue leader, with its sportsbook generating a remarkable $1.6 million in the given month.
Despite being in the negative for January 25th, Hollywood surpassed all other WV sportsbooks by earning a significantly higher amount. The most profitable week for Hollywood was on January 11th, where it generated over $950,000.
Both Hollywood’s retail book and DraftKings had an equal number of victories, each winning twice. However, the retail sportsbook emerged as the overall winner, earning nearly $300,000 more during the month.
In terms of revenue, The Greenbrier had a lackluster performance in January, generating approximately $350,000 from its sportsbook.
Despite earning over $200,000 in each of its first two weeks, The Greenbrier experienced financial losses in the last two weeks.
Just like its handle breakdown, FanDuel also generates the majority of the revenue. The mobile betting app contributed approximately $300,000.
Mountaineer’s sportsbook finished last for the month, generating approximately $230,000 in revenue. Additionally, it experienced losses in two out of the four weeks.
The monthly revenue rankings of WV sportsbooks are as follows:
- Hollywood Casino ($1,626,341.77)
- The Greenbrier ($348,950.81)
- Mountaineer Casino ($227,938.32)
- Mardi Gras Casino ($0)
- Wheeling Island (-$42.00)
Sports betting going forward
Despite college football and the NFL being in the past, there are still many thrilling months awaiting bettors.
Football fans can count themselves fortunate as they still have the option to engage in wagering. The recent debut of the XFL has shown promising signs of longevity.
There are multiple betting options available for basketball enthusiasts. With the NBA All-Star Game fast approaching, and college teams gearing up for March Madness in just under a month, fans have plenty of opportunities to place their bets.
The WVU Mountaineers basketball team is highly likely to secure a spot in the tournament and could even make a deep run to the Final Four. Currently, they hold the 14th rank in the nation.
Numerous other sports are also gearing up for major events. The NHL playoffs are just a few months away, and NASCAR, golf, and tennis are currently in full swing.
With an extensive selection of sports to opt from and the addition of a fresh online sportsbook, the WV sports betting market has the potential to experience a significant boost in February.
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