West Virginia sportsbooks had an extraordinary week, surpassing $4 million in betting handle for the first time in months since February.
The latest revenue report from the Mountain State includes data from the two recently launched online sportsbooks, WV DraftKings Sportsbook and FanDuel Sportsbook, marking their first inclusion in the report. These sportsbooks have been operational for two weeks now.
The immediate effect of their presence was noticeable. Notably, the overall handle in WV has not reached this level since February’s start, when it reached $4.7 million. During that period, the WV market included five retail sportsbooks and the BetLucky mobile app.
This is an extremely positive indication for the future of online sports betting in the state, and it offers just a small preview of what lies ahead.
In addition to the availability of two online platforms, bettors in WV have a wide range of sporting events to choose from. Although this report includes betting action on the opening weekend of college football, it does not include any NFL betting at the moment.
According to DraftKings, WVU football is considered the leading team in the state and attracts the highest number of bets. Nonetheless, the NFL receives the majority of attention at sportsbooks. As the popularity of online sportsbooks continues to surge, betting figures are expected to rise as well.
The surge in bets contributed to the rise in revenue numbers as well. Sportsbooks generated close to $700,000 for the week ending on August 31st. Despite the victories of both West Virginia college football teams, bookmakers managed to attain their highest earnings since March Madness.
The report for this week encompasses the period of Aug. 25-31 and covers the activity of all three currently operational sportsbooks in WV.
- Hollywood Casino Sportsbook
- Mountaineer Sportsbook
- The Greenbrier now houses the FanDuel Sportsbook.
Additionally, it encompasses activity for both active West Virginia online sportsbooks.
- DraftKings
- FanDuel
Despite being closed, Mardi Gras Sportsbook and Wheeling Island Sportsbook are honoring their bets. It remains uncertain whether either of these physical locations will reopen in time to capitalize on any portion of the football season.
WV sports betting summary
Since August 2018, the WV Lottery Commission has released the most recent figures on WV sports betting revenue tracking.
- Handle: $146,499,604.51
- Revenue: $14,165,823.17
- Taxes: $1,416,582.45
WV experienced its most successful sports betting week in quite a while, as the handle skyrocketed by 128% to reach a remarkable total of $4,494,783.75.
Sportsbooks experienced a significant boost in revenue, with earnings of $674,009.37. This marked a remarkable 137% surge compared to the previous week.
WV sports betting revenue for the week ending Aug. 31, 2019
A closer look at WV sports betting handle
As previously stated, the betting handle for this week is the highest it has been in a considerable amount of time. Although the future of the WV sports betting market appeared bleak in the past, there are now ample reasons to be optimistic.
As usual, Hollywood Casino continued to dominate, but this week it surpassed expectations by accepting over $3.2 million in wagers. It’s worth noting that the sportsbook’s handle hasn’t reached the $3 million milestone since March.
Despite not performing as well as Hollywood’s, Mountaineer Casino achieved a handle of almost $700,000 in its sportsbook. It is noteworthy that Mountaineer was the sole active retail sportsbook without an online alternative at the time.
The figure for this week indicates that Mountaineer’s land-based book is still attracting significant traffic even without a mobile app. The increase in handle can be attributed to the opening Saturday of college football. Previously, it hadn’t exceeded $600,000 since June.
The Greenbrier had an outstanding week as well, with its sportsbook surpassing the highest-ever total for the resort, taking in over $550,000 in wagers.
It is worth mentioning that the fact may be slightly biased as The Greenbrier is a private sportsbook, but there is no denying the significant impact that FanDuel Sportsbook has already made. Previously, The Greenbrier’s highest earning week was in late March, generating approximately $389,000.
The following is a ranking of the WV sportsbooks based on their weekly handle.
- Hollywood Casino has a total revenue of $3,248,817.96, while Mountaineer Casino earned $688,127.15. The Greenbrier generated $557,838.64 in revenue, while both Mardi Gras Casino and Wheeling Island did not generate any revenue.
Major takeaway: Online sportsbooks have an instant effect
In 2019, there is no denying the immense popularity of online sportsbooks as the preferred method for placing bets on sports. The rapid and significant influence of FanDuel and DraftKings on the WV market perfectly exemplifies this trend.
Within a span of less than a week (as they were both unavailable for a complete week), mobile betting apps have revitalized the industry with a much-desired surge of energy.
No one could have foreseen how quickly online sportsbooks would contribute to the growth of the betting handle. With the increasing number of bettors downloading apps and the NFL season in full swing, the potential of the WV market is unpredictable.
A closer look at WV sports betting revenue
With regard to revenue, Hollywood Casino outperformed all other sportsbooks as well, generating over $460,000 in earnings. This marks the highest amount it has achieved since February.
DraftKings, an online sportsbook based in Hollywood, generated nearly $33,000 in revenue, surpassing FanDuel by a significant margin.
Mountaineer Casino secured the second spot, amassing an impressive sum of over $190,000 in revenue. This achievement is noteworthy as the casino had not surpassed the six-figure mark since June.
Despite experiencing a high volume of bets, The Greenbrier’s revenue for the week was relatively low, with its sportsbook generating less than $20,000.
One of the main factors contributing to this is the fact that its mobile betting app incurred a loss of nearly $8,000. However, despite this setback, the total revenue of $17,000 still marked The Greenbrier’s highest earnings in five weeks.
Mardi Gras Casino failed to distribute any winnings from placed bets, whereas Wheeling Island experienced a loss of approximately $300.
The following displays the ranking of WV sportsbooks based on their weekly revenue:
- Hollywood Casino ($466,461.15)
- Mountaineer Casino ($190,283.5)
- The Greenbrier ($17,546.72)
- Mardi Gras Casino ($0)
- Wheeling Island (-$282.00)
Major takeaway: WV football responsible for lower figures
Although FanDuel suffered a loss of nearly $8,000, DraftKings’ earnings of approximately $33,000 are not particularly remarkable. Considering the significant increase in the state’s handle this week, the revenue figures could have been significantly higher.
The explanation for this is quite straightforward. Both college football teams from West Virginia emerged victorious on Saturday, and it is highly probable that supporters of WVU also successfully placed bets that exceeded the predicted margin.
Before the game, the Mountaineers were favored by seven points. However, in the week leading up to the game, their spread dropped to as low as -5.5. Although WVU’s 20-13 triumph over JMU resulted in some bettors getting their money back, most gamblers successfully covered the spread.
The likely reason for the lower revenue figures could be attributed to WVU’s failure to cover against Missouri on Saturday. Therefore, the upcoming week might provide a better indication of the revenue potential.
On the board for WV sportsbooks
WV football
After experiencing difficult defeats this week, both the Mountaineers and Thundering Herd will aim to recover. WVU suffered a heavy defeat against Missouri, while Marshall narrowly lost a game against Boise State.
This weekend, DraftKings has released the odds for the WV teams.
WVU vs. NC State
- WVU +7 (-110)
- NC State -7 (-110)
Marshall vs. Ohio
- Marshall -5.5 (-110)
- Ohio +5.5 (-110)
NFL football
After an eventful opening Sunday, the NFL prepares for Week 2. Unfortunately, the local teams within the WV region did not have a successful start, as all four of them suffered losses this week.
Below are the lines for the games scheduled for the early part of the week.
The matchup will be between the Cleveland Browns and the New York Jets.
- The point spread for the Cleveland Cavaliers is -2.5 with odds of -110, while the moneyline is set at -136.
- The New York Jets are listed as underdogs with a point spread of +2.5 (-110), and their moneyline odds are +112.
The match-up is between the Pittsburgh Steelers and the Seattle Seahawks.
- The Pittsburgh team is favored by 3.5 points with odds of -107. The moneyline is set at -177.
- The SEA team is favored by 3.5 points with a moneyline of +145.
The Washington Redskins are going up against the Dallas Cowboys.
- The point spread for this game is 4.5, with odds of -107. The moneyline for the game is +180.
- The Dallas team is favored by 4.5 points with a betting line of -114, and their moneyline is -220.
The matchup is between the Cincinnati Bengals and the San Francisco 49ers.
- The Moneyline for the CIN pk (-110) is now listed at -114.
- San Francisco 49ers are favored to win with a moneyline of -106.
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