
As the second year of regulated legal sportsbooks begins in West Virginia, the anticipation and enthusiasm surrounding the state’s sports betting market is at an all-time high. With the advent of football season, residents now have access to a variety of online sports betting apps, further adding to the excitement in the Mountain State.
Now that both FanDuel Sportsbook and DraftKings Sportsbooks are available in West Virginia, bettors can finally enjoy legal sports gambling in the best possible way. Instead of being limited to a few physical sportsbooks, gamblers can now conveniently place their wagers on sports using their mobile devices.
Despite the recent launch of these online sportsbooks, their data has not yet been incorporated into the revenue report. The report currently encompasses betting activity up until the week of Aug. 24.
The WV market has experienced a positive shift, despite the absence of online sportsbooks. The resurgence of betting on college football and NFL has notably boosted the state’s betting handle in recent weeks.
As WVU football gains momentum, sportsbooks are expected to remain bustling throughout the winter season. With an increasing number of individuals embracing online options and participating in betting, the betting handle in WV is predicted to keep expanding.
The total handle for the state remained unchanged from a week ago, but it still reached a respectable figure of just under $2 million.
Sportsbooks continued to generate substantial revenue, with a remarkable sixth consecutive week of profitability. They concluded the week with a surplus of over $280,000.
Although the betting activity is significantly high, the revenue figures might appear slightly distorted due to a large number of bettors placing season-long futures during this summer period. Currently, all of this money is categorized as revenue, but there is a possibility that it could result in losses for sportsbooks by the end of the season.
However, if online platforms assist in expanding the market, this may not be a problem. Bettors should be enthusiastic about the recent launch of mobile options, but there are still more developments to come. It has been reported that the William Hill Sportsbook will soon be available in WV as well.
The report for this week encompasses the activity of all five WV sportsbooks from Aug. 18-24.
- Hollywood Casino Sportsbook
- Mountaineer Sportsbook
- The Greenbrier is home to the FanDuel Sportsbook.
The Mardi Gras Sportsbook and Wheeling Island Sportsbook remain closed, leaving us curious to know if either will reopen in time to take advantage of the football season in any capacity.
WV Sports Betting Summary
Since August 2018, the WV Lottery Commission has released the most recent data on WV sports betting revenue tracking.
- Handle: $142,004,820.76
- Revenue: $13,491,813.80
- Taxes: $1,349,181.50
Despite a 7% decrease in handle, sportsbooks in WV still managed to accept $1,972,581.82 in wagers, making it another successful week for sports betting.
Sportsbooks generated $284,627.42 in revenue for the week ending Aug. 24, which was a decrease of 24% compared to the previous week.
WV sports betting revenue for the week ending Aug. 24, 2019
A Closer Look At WV Sports Betting Handle
Another successful week for WV sportsbooks as they maintained their strong performance. The substantial amount of football bets contributed to a total betting handle of nearly $2 million for the state.
As expected, Hollywood Casino once again took the lead. While it surpassed the other active sportsbooks in the state, it didn’t have a particularly successful week.
Hollywood’s handle has now declined for three consecutive weeks.
In terms of weekly performance, Mountaineer Casino secured the second position by generating over $330,000 in sports bets. This remarkable achievement represents the sportsbook’s most impressive result in the past three weeks.
In a month, The Greenbrier recorded its highest handle ever by adding slightly more than $45,000 in wagers.
These are the rankings of WV sportsbooks based on their weekly handle.
- The Hollywood Casino has a total amount of $1,593,117.82. The Mountaineer Casino has a total amount of $334,335.75. The Greenbrier has a total amount of $45,128.25. However, both the Mardi Gras Casino and Wheeling Island have a total amount of $0.
Major takeaway: WVU football important for handle
It is not often that a single team or sport has the potential to revolutionize the betting industry in an entire state. However, WVU football has the power to do just that in the WV market. Although the exact impact on betting revenue is not known yet, it will be fascinating to monitor throughout the 2019 season.
If the Mountaineers perform well, or at least remain competitive throughout the year, the betting activity is likely to increase. Additionally, bettors typically show a greater inclination to place higher wagers on a team that promises to yield profitable outcomes.
If WVU consistently covers the spread, it is highly probable that residents of West Virginia will come back to the sportsbooks on a weekly basis to support their team.
The outcome of the WVU game this weekend varied depending on when it was taken. On Saturday, the Mountaineers triumphed over James Madison with a score of 20-13, marking the beginning of the year for them. Although some individuals may have placed bets with a -7 spread, those who wagered early would have emerged victorious when the spread was as low as Mountaineers -5.5.
A Closer Look At WV Sports Betting Revenue
This week, all three active sportsbooks in WV successfully made a profit. The WV market has consistently generated positive revenue for the past month and a half.
Hollywood Casino continues to dominate this category, raking in nearly $200,000 in earnings for the week. Impressively, its sportsbook has consistently achieved six-figure profits for the past three weeks.
Mountaineer Casino followed closely, generating almost $80,000 in revenue, marking its most impressive performance in the past 11 weeks.
The Greenbrier generated approximately $16,000 in revenue for the week, marking its sportbook’s highest earnings in a month.
Wheeling Island and the Mardi Gras Casino were required to disburse approximately $600 for resolved wagers.
The weekly revenue rankings for WV sportsbooks are as follows:
- Hollywood Casino ($192,241.27)
- Mountaineer Casino ($77,118.70)
- The Greenbrier ($15,907.00)
- Wheeling Island (-$9.55)
- Mardi Gras Casino (-$630.00)
Major takeaway: Online betting should increase revenue
Online sportsbooks will undoubtedly benefit the state, even though predicting weekly revenue figures is nearly impossible.
Although betting through your mobile phone offers convenience and limitless possibilities for live betting on games, it also facilitates placing more informal wagers with greater ease.
Naturally, the outcome of a single bet is unpredictable, but gamblers are often drawn to placing a small amount of money on a long-shot opportunity simply because it offers the potential for a significant payout.
As these new online sportsbooks gain popularity, it is expected that an increasing number of bets will be placed on them, surpassing the current trend of betting primarily at retail sportsbooks.
Both FanDuel and WV DraftKings Sportsbook provide a wide range of prop bets and future bets with odds approximately at +1000. Many bettors may not have considered visiting a physical sportsbook to place these bets, but now that they have the option available on their mobile devices, it is likely that the number of such wagers will increase in the future.
On the board for WV Sportsbooks
West Virginia college football
The first week of college football in WV proved to be a triumphant start. Both the Mountaineers and Thundering Herd emerged victorious from their opening weekend, leaving their enthusiastic fans craving for more.
As Week 2 approaches, the level of competition significantly rises for every team. Despite being favored in their respective first games, both WV programs now find themselves as considerable underdogs for their upcoming matches.
DraftKings has provided the odds for the teams’ second game of the season.
WVU vs. Missouri
- WVU +14 (-110)
- Missouri -14 (-110)
Marshall vs. Boise State
- Marshall +12 (-129)
- Boise State -12 (+105)
NFL football
If the college football season didn’t already ignite your excitement, the NFL’s comeback certainly will. The highly anticipated pro football season begins on Thursday night, featuring the age-old rivalry between the Green Bay Packers and Chicago Bears.
This Sunday, the remaining teams will play, and there will also be a few Monday night matchups.
DraftKings has released the odds for the upcoming season opener games featuring various local teams.
The matchup is between the Cleveland Browns and the Tennessee Titans.
- The Cleveland Browns are favored by 5.5 points with a betting odds of -110. Additionally, their moneyline is set at -240.
- The moneyline for TEN is +195 with a -110 spread and an additional 5.5 points.
The matchup between the Pittsburgh Steelers and the New England Patriots.
- The Pittsburgh team has a point spread of +5.5 with odds of -110, and their moneyline is +190.
- The point spread for this game is -5.5 with odds of -110. The moneyline is -235.
The Washington Redskins will be facing off against the Philadelphia Eagles.
- The point spread for the game is 9.5, with the odds of -110. The moneyline odds for the game are +325.
- The point spread for PHI is -9.5 with odds of -110, and the moneyline is -420.
The matchup is between the Cincinnati Bengals and the Seattle Seahawks.
- The point spread for the Cincinnati team is +9 with odds of -110, while the moneyline for the same team is +320.
- SEA is favored by 9 points with a moneyline of -420.