This week marked a significant shift in the history of West Virginia sports betting as mobile sports betting revenue surpassed its retail counterpart for the two casinos with an online app.
At present, BetLucky stands as the sole mobile sports betting app available in West Virginia, offering online sports betting services exclusively for Mardi Gras Casino and Wheeling Island Hotel.
The retail sportsbooks for both casinos and the mobile app were introduced in late 2018. However, the online sports betting option failed to generate the same level of excitement among sports bettors as seen in other states, particularly New Jersey.
Mobile sports betting revenue at both casinos surpassed retail revenue by three times for the week starting on Jan. 19, 2019, indicating a potential shift in the trend.
In total, Mardi Gras accumulated $78,788.37 in revenue from mobile sports betting and $22,236.60 from its retail operation. Remarkably, mobile sports betting contributed to 78 percent of its overall revenue.
In the same vein, Wheeling Island generated $44,167.71 in revenue from online sports betting, while an additional $15,437.66 was earned through its brick-and-mortar sportsbook. Notably, online sports betting accounted for 74 percent of Wheeling Island’s total revenue.
The West Virginia sports betting revenue report provides valuable insights that deserve closer examination.
WV sports betting summary
Since August 2018, the industry has been keeping track of the WV sports betting revenue. Here are the latest figures.
- Handle: $60.2 million
- Revenue: $7.6 million
- Taxes: $764,304
Compared to the previous week, the overall handle for the week of Jan. 19, 2019, dropped by 14.3 percent to $4,167,883.12.
The total revenue experienced a rebound, reaching $519,830.94. Although there was a significant 67 percent increase compared to the previous week, it remains below the record-breaking peak of $721,631.85.
WV sports betting revenue for the week of Jan. 19, 2019:
A closer look at WV sports betting handle
This week, only Mardi Gras Casino and the FanDuel Sportsbook at the Greenbrier witnessed an increase in wagers compared to the previous week.
According to the weekly sports betting report, Greenbrier has experienced significant fluctuations from week to week. For example, in the previous week, there was a drastic decrease of almost 100 percent in its handle. However, in the current week, Greenbrier not only recovered from the loss but also exceeded its initial position.
Greenbrier’s figures fluctuate like a roller coaster ride, but Hollywood Casino at Charles Town Races maintains a steady performance. It consistently holds the top position and has accumulated over $2 million in wagers for the week.
Since October 2018, Hollywood Casino has consistently maintained a value exceeding $2 million, making it the only sportsbook to achieve such a milestone. Notably, no other sportsbook has managed to reach the $1 million mark yet.
Mountaineer Casino, Racetrack & Resort experienced a significant shift in the rankings this week, unfortunately moving in the opposite direction. With a decline of 36.9 percent to $525,000.20 in its handle, the sportsbook relinquished its second-place position. As a result, it now finds itself in fourth place, trailing behind Mardi Gras and Wheeling Island.
These are the rankings of WV sportsbooks based on their handle.
- The Hollywood Casino has a total amount of $2,163,799.90. The Mardi Gras establishment holds $751,172.77. Wheeling Island has $530,985.95 in its account. Mountaineer Casino has a balance of $525,000.25. Lastly, The Greenbrier has a sum of $196,924.25.
A closer look at West Virginia sports betting revenue
Remember, revenue for a sportsbook refers to the remaining amount of the handle once all the winning sports bets have been paid out.
Every week, revenue may not necessarily align with handle due to a few key reasons. The responsibility of setting lines lies with each individual sportsbook, and this directly affects their revenue.
The payment of futures also has an impact on revenue. When a sports bettor places a bet on an upcoming event, the bet amount is included in the total amount of bets for that week. However, the casino only pays out winning tickets for these future events after they have occurred, which is obviously at a later date.
This is the reason why there is not always a direct correlation between handle and revenue growth.
These are the rankings of West Virginia sportsbooks based on revenue:
- Hollywood Casino ($248,002.05)
- Mardi Gras ($101,024.97)
- The Greenbrier ($74,058.75)
- Wheeling Island ($59,605.37)
- Mountaineer Casino ($37,139.80)
What to look for next week in WV sports betting
The upcoming report will cover the week starting from Jan. 27, 2019. As the Super Bowl approaches, there will likely be a rise in activity. In fact, casinos are currently making preparations for Super Bowl parties in anticipation of the highly anticipated event.
The revenue generated from mobile sports betting has been consistently growing on a weekly basis. The most significant highlight from the latest report is that mobile sports betting revenue has exceeded that of traditional retail sports betting. We expect this trend to continue, as mobile betting is projected to contribute a substantial portion of revenue for casinos in West Virginia.
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