West Virginia’s sports betting is officially reinstated and improved compared to the past.
The week of Sept. 7 witnessed record-breaking numbers in overall betting handle and revenue for WV sportsbooks, all thanks to the contributions of both DraftKings Sportsbook and FanDuel Sportsbook.
The previous report briefly mentioned online betting activity, but it only covered a partial week. However, with a full week of wagers in this current report, we can now accurately assess the true influence of mobile betting apps.
They did not disappoint.
The WV market achieved a remarkable milestone by surpassing $6 million in wagers, setting a new record for the total handle. Until this week, the Mountain State had never experienced a week with over $5 million in bets. The previous highest record was established in January, when WV sportsbooks received approximately $4.9 million in bets.
Revenue figures soared to unprecedented levels, with sportsbooks raking in a staggering $1.6 million, surpassing the previous record established on Feb. 2. During that particular week, bookmakers amassed nearly $950,000, leading to conjecture that a significant portion of this profit was attributed to the acceptance of a substantial number of Super Bowl futures.
The existence of both these records highlights the dire need for online sportsbooks in West Virginia. While the legalization and establishment of physical betting locations was a positive step, the presence of multiple online options is crucial for maintaining a thriving market.
As the NFL and college football seasons are in full swing, the potential revenue generated from betting in the state may only be beginning to emerge. With the ongoing football season and an increasing number of residents opting for legal sports betting apps, it is highly probable that the figures will experience a significant boost.
Furthermore, the market is set to continue its growth as additional sportsbooks plan to launch soon. William Hill Sportsbook is slated to make its debut at some point, while PointsBet Online Sportsbook has recently revealed its intentions to enter the West Virginia market.
The following report encompasses the activity of the three active WV sportsbooks for the week of September 1-7.
- Hollywood Casino Sportsbook
- Mountaineer Sportsbook
- The Greenbrier is home to the renowned FanDuel Sportsbook.
It comprises activity for both of the WV online sportsbooks that are currently accessible.
Mardi Gras Sportsbook and Wheeling Island Sportsbook remain closed at the moment, but they are honoring and paying off all resolved bets. We are eagerly anticipating any updates on the reopening of these physical establishments, especially with the upcoming football season.
WV Sports Betting Summary
Since August 2018, the WV Lottery has released the latest figures for WV sports betting revenue tracking.
- Handle: $152,539,759.17
- Revenue: $15,830,067.04
- Taxes: $1,583,006.845
Last week marked an unprecedented surge in sports betting activity in West Virginia. Despite a prosperous preceding week, the handle at sportsbooks experienced a substantial increase, reaching a remarkable total of $6,040,154.66 in wagers. This remarkable figure represents a significant 34% leap compared to the previous week.
The revenue figures were equally remarkable, with sportsbooks earning $1,664,243.87, reflecting a notable 147% surge compared to the previous week.
WV sports betting revenue for the week ending Sept. 7, 2019
A Closer Look At WV Sports Betting Handle
The presence of online sportsbooks in WV was anticipated to boost the betting handle, but the extent and speed of its impact were unforeseen. It is truly astonishing that the state managed to achieve its highest betting handle in history within a mere week of introducing these mobile apps.
Hollywood Casino set an impressive record-breaking week by generating over $4.3 million in wagers through its sportsbook, almost matching the entire amount from the previous week.
Although Hollywood has experienced its revenue exceeding $3 million on a few occasions, it has never come close to reaching $4 million.
Although Hollywood and DraftKings continue to dominate the market, it is worth mentioning that their market share has declined by approximately 10% in just two weeks.
In less than two weeks, the Greenbrier and its FanDuel app have overtaken Mountaineer Casino, making it no surprise that the only other casino with a mobile sports betting app finished in second place for the week.
The highest handle ever showcased by it was able to generate more than $930,000 in bets.
Despite not having an online sportsbook available, Mountaineer had a successful week with its retail location generating nearly $800,000 in handle.
Mountaineer’s performance has surpassed its previous record of over $1.1 million in wagers last March, making it their best performance to date.
This is the ranking of WV sportsbooks based on their weekly handle.
- The Hollywood Casino has a total revenue of $4,319,593.35, followed by The Greenbrier with $932,135.21, Mountaineer Casino with $788,426.10, and both Mardi Gras Casino and Wheeling Island reporting no revenue.
Major takeaway: Perfect storm for sports betting
Although the WV Lottery was tardy in launching online sportsbooks, its timing turned out to be absolutely impeccable.
In the US and WV, football takes the lead as the most favored sport for betting. The residents of West Virginia show no exception to this trend. Despite the absence of professional teams within the state, there are numerous teams in the vicinity that host their home games.
While NFL betting undoubtedly dominates this week’s $6 million handle, college football should not be overlooked. With West Virginia University football enjoying immense popularity statewide and Marshall University also boasting a significant football program, the autumn season presents a prime opportunity for sportsbooks to generate profits.
The introduction of an online option alone has already witnessed a significant increase in gambling. However, when combined with mobile books for football betting, the potential for growth in WV seems limitless.
A Closer Look At WV Sports Betting Revenue
This week, WV sportsbooks achieved a remarkable milestone by generating record-breaking revenue. They raked in an impressive sum of over $1.6 million, making it the most profitable week in their history.
Hollywood Casino naturally took the lead once again, surpassing its previous week’s revenue by nearly three times and earning over $1.2 million.
By far, this week marks Hollywood’s most profitable period in terms of revenue. In December 2018, the sportsbook generated approximately $550,000, which was its previous record high.
Mountaineer, despite having a lower handle, managed to secure the second position in terms of revenue. The sportsbook witnessed an impressive gain of almost $250,000 for the week, marking its strongest performance since late March.
Despite finishing last among the active books, The Greenbrier had an exceptional week, surpassing its previous record of approximately $82,000 and setting a new revenue milestone.
This week, Wheeling Island did not distribute any winnings from settled bets, while Mardi Gras Casino incurred a loss of approximately $600.
These are the rankings of the WV sportsbooks based on their weekly revenue.
- Hollywood Casino ($1,239,372.46)
- Mountaineer Casino ($247,279.8)
- The Greenbrier ($178,214.36)
- Wheeling Island ($0)
- Mardi Gras Casino (-$622.75)
Major takeaway: Online sportsbooks create more opportunity for revenue
In most cases, a state with a higher overall handle tends to have higher revenue figures. However, due to the volatile nature of the sports betting market, this correlation is not always true, although it holds true in the majority of cases.
With the recent re-establishment of online sportsbooks in WV, it seems likely that the handle will keep increasing as DraftKings’ and FanDuel’s popularity expands. As more bets are placed, sportsbooks can seize additional opportunities to generate revenue.
In addition to handling a larger volume of bets, online sportsbooks cater to a wider range of casual wagers compared to their brick-and-mortar counterparts. For instance, it is highly unlikely for someone to travel for an hour just to place a proposition bet on a Thursday Night football game. However, thanks to the convenience of mobile sportsbooks, bettors are more inclined to place small bets on outcomes with lower chances of success, often resulting in losses.
On the board for WV Sportsbooks
WV football betting odds
The previous week presented significant achievements for college football programs in West Virginia. WVU managed to secure a surprising victory over NC State on their home turf, and Marshall, in a thrilling finish, clinched their second win of the season by defeating Ohio.
As the Thundering Herd enjoys a bye week, attention and wagers will now shift towards the Mountaineers. WVU commences its Big 12 Conference schedule with a game against the Kansas Jayhawks, capturing everyone’s focus.
Despite a forgettable recent history, Kansas approaches the game with a modicum of confidence, boasting a 2-1 record.
The Mountaineers’ chances for the upcoming weekend can be found on both DraftKings and FanDuel online sportsbooks.
WVU vs. Kansas
The betting odds for WVU football are provided by DraftKings.
- The point spread for the WVU game is -4.5 with odds of -110, while the moneyline odds stand at -177.
- The point spread for the Kansas team is +4.5 with odds of -110, while the moneyline for the team is +143.
The betting odds for WVU football provided by FanDuel are as follows:
- The point spread for the WVU game is -4.5 with odds of -110, while the moneyline is -195.
- The point spread for the Kansas team is +4.5 with odds of -110, and their moneyline is +165.
NFL Week 3 betting odds
The NFL football season’s second week proved to be extremely eventful. Numerous injuries impacted nearly every team, making this season appear to be one of the most uncertain and unpredictable ones.
Even though the majority of the local teams are currently struggling (with Cleveland being the only one with a victory), it is important to remember that the season is still in its early stages.
As we look forward to an action-packed Week 3 of games, let’s check out the latest odds provided by DraftKings and FanDuel.
WV NFL betting odds from DraftKings Sportsbook:
The match-up is between the Cleveland Browns and the Los Angeles Rams.
- The CLE team is favored by 3 points with a -115 spread, and their moneyline odds are +128.
- The Los Angeles team is favored by 3 points with odds of -106, and their moneyline is -157.
The Pittsburgh Steelers will be competing against the San Francisco 49ers.
- The point spread for the PIT team is +6.5 with odds of -114, while the moneyline is +210.
- The San Francisco team is favored by 6.5 points with a betting line of -107, and the moneyline for them is -265.
The match-up is between the Washington Redskins and the Chicago Bears.
- The moneyline for the game is +163 with a spread of +4 (-110).
- The Chicago team is favored by 4 points with a betting line of -110, and their moneyline is -200.
The matchup is between the Cincinnati Bengals and the Buffalo Bills.
- The CIN team has a point spread of +6 with odds of -115. Their moneyline odds are +200.
- BUF is favored by 6 points with a -106 spread. The Moneyline odds for BUF are -250.
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