In May, West Virginia sportsbooks experienced yet another lackluster month, as they collectively accumulated slightly above $25 million in handle.
In April, the betting figures caused a further decline of $3 million in the production of the Mountain State.
The betting handle has been on a decline since the conclusion of the NFL and football season. In December, WV sportsbooks recorded over $57 million in wagers, but more recently in March, the amount dropped to nearly $43 million.
Sportsbooks are experiencing a decline, with a decrease from $28 million in April to $25 million in May.
Last month, the online sports betting apps in WV contributed over $18 million to the overall handle, representing approximately 72% of the total amount.
In April, the books achieved the impressive feat of surpassing $7 million in weekly bets not once, but twice. However, their streak came to an end in May as they failed to reach this milestone even once. In fact, they experienced a week with less than $6 million in bets, marking their lowest handle since August 2020.
Although sportsbooks did not have a notably strong performance in terms of generating revenue, there was a positive improvement compared to the previous month.
In May, the sportsbooks in West Virginia saw a rise of approximately $500,000, earning nearly $2.7 million.
Compared to retail locations earning approximately $930,000, online sportsbooks amassed over $1.7 million in revenue.
Now, let’s delve into a more comprehensive analysis of the sports betting figures for May and evaluate the performance of individual sportsbooks.
WV sports betting handle, May 2021
Overall betting in WV experienced a decrease of 9%, making it yet another sluggish month for sportsbooks.
While the handle never reached a weekly total exceeding $7 million, it came very close. The month’s silver lining was the last week, which proved to be the most successful.
The sportsbooks raked in approximately $6.8 million in wagers during the week of May 29, potentially setting the stage for a promising start to June.
Hollywood Casino and its DraftKings Sportsbook WV outperformed all competitors by generating a handle of almost $11.9 million for the month. This impressive rebound marked a significant improvement for Hollywood, which had fallen behind The Greenbrier in April.
The total amount of bets placed each week was at least $2.7 million, with the final week reaching over $3.1 million. This marked the first occurrence of Hollywood surpassing $3 million in eight weeks.
The total amount, which DraftKings was accountable for, was approximately $7.4 million.
The Greenbrier secured the second position, accumulating approximately $10.3 million in handle. The primary contributors to this figure were its two online platforms, FanDuel WV and BetMGM WV Sportsbook, as betting within the resort’s premises remains exclusive to private arrangements.
A sum exceeding $10 million was received by them for the month.
By far, Mountaineer Casino had its most impressive week, surpassing $600,000 in wagers on May 29. Overall, it secured the third spot among active sportsbooks, generating slightly over $2 million.
During the span of four weeks, the William Hill Sportsbook WV mobile app generated approximately $525,000 in revenue.
Mardi Gras Casino accumulated approximately $900,000 in bets, whereas its sister property, Wheeling Island, witnessed around $400,000 in wagers.
Mardi Gras pulled in approximately $355,000 in revenue for their lively Sportsbook, while Wheeling Island only managed $53,000 in comparison.
It appears that these operators may need to wait for football to return in order for betting figures to return to their previous levels.
WV sports betting revenue, May 2021
In a rather unexpected turn of events, revenue managed to surge even in the face of another challenging month. Despite the minimal betting activity, revenue witnessed an impressive 22% increase compared to April.
In the month of May, sportsbooks achieved a minimum weekly revenue of $550,000, with an impressive total of over $740,000 earned in the last two weeks. Notably, the revenue for the final seven days exceeded $800,000, marking the first instance in two months where books attained such high weekly earnings.
During the week of May 15, online sportsbooks achieved their most outstanding performance, accumulating a revenue of nearly $540,000.
Despite not receiving the highest number of bets, The Greenbrier emerged as the highest earner for the month with monthly earnings surpassing $1.3 million in May. Notably, its two online options contributed over $1.2 million to this revenue.
In the past three weeks, both BetMGM and FanDuel have accumulated a minimum of $325,000 in earnings.
Hollywood raked in around $940,000 in earnings, securing the second spot. DraftKings played a significant role by contributing over $400,000 for the month. However, it fell short of reaching six figures in three of the weeks.
In May, Mountaineer secured the third-highest revenue, amounting to approximately $265,000. Notably, the William Hill app of Mountaineer remained steadfast, generating over $70,000 throughout the month.
Mardi Gras triumphed over Wheeling Island to secure fourth place, earning approximately $110,000. On the other hand, Wheeling Island accumulated roughly $30,000, partly due to a loss of around $15,000 in the final week.
The betly app of Mardi Gras outperformed Wheeling Island, generating revenue of just over $22,000 compared to Wheeling’s approximately $7,000.
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