In conclusion, the Mountain State has witnessed an outstanding year for sports betting.
Despite the prolonged slowdown in West Virginia sportsbooks due to COVID-19, there was a notable increase in both betting handle and revenue this year.
The total amount of wagers accepted by sportsbooks in 2020 was $257,315,331.54. This report provides information on the betting figures for the fiscal year spanning from July 1 to June 30.
Sportsbooks were also successful in terms of revenue, generating a total profit of $19,146,699.07 for the year.
Over the past year, the resurgence of online sports betting apps has undeniably propelled WV to unprecedented levels. The introduction of three mobile sportsbooks played a pivotal role in attracting a greater influx of wagers and revenue, instantly elevating the state’s achievements.
Online platforms include:
Although the state used to have another online sportsbook, its quality was far inferior compared to the ones currently available. However, it still played a significant role in fueling a substantial amount of betting activity over the past 10 months.
During the current sports calendar, the online betting apps have been of immense assistance. With retail sportsbooks closed and limited popular betting markets available, these mobile options played a vital role.
Sports bettors in the state were given the opportunity to continue enjoying their passion in the cozy confines of their own homes.
Despite the absence of major sports events, online apps have consistently provided customers with entertainment.
- Table tennis
- Korean baseball
- Various football (soccer) leagues
With the potential return of several major American sports, the sportsbooks anticipate an exciting few months ahead. Given the recent sluggishness in wagering, the state could greatly benefit from a boost in revenue.
The release of online casinos, expected to go live by the end of July, will be just as beneficial as engaging in sports activities.
WV Sports Betting Handle
Although the last fiscal year showed impressive results for WV sportsbooks, it had the potential for even greater success. Unfortunately, just as online wagering was gaining momentum, the coronavirus pandemic hit the US.
Due to the closure of retail stores and the scarcity of live sports events, the market faced significant challenges in remaining afloat.
Despite these unfortunate circumstances, there was a significant increase in sports betting from the first year to the second year.
In 2020, there was a significant surge in the total handle, surpassing $257 million, which marks a remarkable 101% growth compared to the previous year. In 2019, sportsbooks had received approximately $128 million in handle.
However, comparing the two years can be challenging due to a discrepancy. The fiscal-year report for 2019 solely encompasses betting activities from September onwards, as sports wagering was not yet accessible.
The 2020 revenue figures also reflect a 10-week break from March to May, during which all wagering at land-based sportsbooks was halted due to COVID-19. Additionally, the online handle was greatly affected by the pandemic.
Online sports betting emerged as a significant factor, constituting the most prominent distinction between the two years.
Mobile wagering was introduced for a mere 11 weeks in 2019 and had a marginal impact on increasing the overall figures.
Online sportsbooks were accountable for approximately $133 million in bets in the year 2020.
Naturally, the retail sportsbooks that feature an online platform have distinguished themselves from the others.
2020 Handle Rankings
Hollywood Casino dominated the market throughout the year, generating nearly $162 million in handle. In addition to their exceptional DraftKings app, Hollywood Casino boasts the top retail figures in the state.
The largest casino in West Virginia, this establishment draws in sports bettors from nearby states due to its strategic location.
At that period, DraftKings accounted for approximately $70 million in handle, representing 43% of the overall wagers.
The Greenbrier secured the second spot with an overall handle of nearly $69 million. In contrast to Hollywood, it heavily depends on mobile wagering as its retail book remains exclusive and private.
92% of the total amount, which equated to over $63 million, was accepted by the collaboration between FanDuel and BetMGM.
In 2020, Mountaineer Casino achieved a commendable third position among active sportsbooks, with a remarkable handle exceeding $25 million. However, it is important to note that the retail book of Mountaineer Casino is yet to introduce an online platform.
Both Mardi Gras Casino and Wheeling Island Casino are at the bottom in terms of handle. Currently, neither of them has a mobile app, and all sports betting has been halted until February.
Mardi Gras collected approximately $865,000 through sports bets, whereas Wheeling Island Casino accounted for a lesser amount of $582,000.
WV Sportsbook Revenue
In the previous year, revenue figures displayed robust performance. The total earnings surpassed $19 million, marking a significant 60% increase compared to the year 2019. Notably, sportsbooks alone generated approximately $12 million in revenue during the preceding year.
The difference was once more attributed to the accessibility of online sportsbooks, which resulted in a total revenue of nearly $8.8 million for online betting in 2020.
Hollywood Casino and DraftKings clinched the leading position in revenue generation. The online sportsbook managed to amass a staggering $5 million throughout the fiscal year.
Hollywood’s total sports betting profits of over $12 million accounted for approximately 40% of this figure.
The Greenbrier secured the second position by generating a revenue of more than $4 million. Just like its handle breakdown, the majority of income, nearing $4 million, was contributed by online betting.
Approximately 87% of production was attributed to FanDuel and BetMGM.
Despite not having a mobile betting app and being forced to close its retail book, Mountaineer Casino managed to achieve a commendable third place in revenue, surpassing $2 million.
The mountaineer refrained from accepting any bets for a continuous period of 10 weeks, only resuming after the reopening of casinos in early June.
Comparing figures to last year’s is more useful because this sports betting location is unique in that it has never offered an online platform.
Revenue increased by 32% compared to last year’s approximate total of $1.5 million.
In 2020, both Wheeling Island and Mardi Gras faced challenges in generating substantial revenue. Their retail sportsbooks were only operational for a mere seven weeks, limiting their betting opportunities.
Mardi Gras Casino made slightly more than $65,000, whereas Wheeling Island generated approximately $30,000 in revenue.
On The Board At WV Sportsbooks
American sports are making a comeback with the return of MLS soccer. Despite the challenging times, sportsbooks may receive significant assistance to overcome this period.
The NBA and NHL playoffs are nearing, accompanied by the commencement of the 60-game MLB season.
Right now, WV sportsbooks offer futures wagers for all of these sports to ensure you are well taken care of.
The commencement of the baseball season is set for July 23, with a complete lineup of games scheduled for the subsequent day.
At present, the current odds displayed by DraftKings for winning each league this year are as follows:
American League
- New York Yankees +175
- Houston Astros +350
- Minnesota Twins +800
- Tampa Bay Rays +800
- Cleveland Indians +1100
- Boston Red Sox +1300
- Oakland Athletics +1300
- Chicago White Sox +1500
- Los Angeles Angels +1500
National League
- Los Angeles Dodgers +170
- Atlanta Braves +600
- Washington Nationals +750
- New York Mets +900
- Louis Cardinals +900
- Chicago Cubs +1100
- Philadelphia Phillies +1100
- Cincinnati Reds +1500
- Milwaukee Brewers +2000
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