Several retail sportsbooks in West Virginia have begun to reopen alongside the state’s casinos. Regrettably, the betting handle during the initial two weeks after resumption in the Mountain State fell short of expectations.
During the two-week period, retail sportsbooks only received a total of $46,757.80, which is equivalent to a mere 2% of the overall handle of $2,615,916.48 for that duration.
The revenue report encompasses the retail sports wagering for the weeks ending on June 6 and June 13.
No bets had been accepted by land-based sportsbooks since the week starting March 21.
Naturally, due to casinos operating at only 50% of their full capacity, it was anticipated that betting numbers would be reduced.
Additionally, it is important to consider the current availability of betting markets at sportsbooks. Although some popular sports and leagues have resumed, several major American markets are still making their comeback.
Late July restarts are scheduled for both the NHL and NBA, with the majority of their seasons already completed. To determine a champion, both leagues have implemented new playoff formats.
The return of Major League Baseball is imminent.
There was no new agreement reached between the league and its players regarding the pay structure. However, Commissioner Rob Manfred successfully enforced a 60-game season using the terms outlined in the March 26 agreement with the MLB Players Association.
The WV sports betting community can find encouragement in this news.
Books barely managed to turn a profit in terms of revenue, earning approximately $1,800 over the course of two weeks.
Sportsbooks experienced a lucrative start, earning close to $17,000 in the initial week upon resumption. However, they encountered a setback during the week of June 13, facing losses of nearly $15,000.
Despite the gradual reopening of retail locations, online sports betting apps remain the driving force as they have consistently processed bets amounting to over $1 million in each of the past seven weeks.
WV sports betting revenue for the week ending June 6, 2020
WV sports betting revenue for the week ending June 13, 2020
WV Retail Sports Betting Handle
The betting handle figures for the first two weeks at retail sportsbooks were generally underwhelming.
During the first week, they accumulated a total of $24,462.80, followed by $22,295.00 in the second week. However, in the final complete week before the suspension of sports events, retail books experienced a significant increase with a handle exceeding $2.7 million.
The betting production in the state has been significantly hindered by several crucial factors.
In addition to the 50% capacity limitation imposed on casinos, many retail sportsbooks chose not to open right away. In fact, several sports betting establishments are still yet to welcome customers.
As of now, only these three sportsbooks have resumed accepting wagers:
The reopening of the sportsbooks at Wheeling Island and the Mardi Gras Casino is still pending.
Given the limited number of guests and only three available locations, it is understandable why the betting figures are relatively low.
The Mountaineer set a precedent for open books by generating a handle of over $31,000 within a span of two weeks.
With over $14,000 in wagers, The Greenbrier secured the second position.
With a meager $986 in handle, Hollywood ranked dead last. Initially, their sportsbook remained closed, but according to the casino’s website, it is now open every day from noon to 8 pm.
While this initial report may not be favorable for retail sportsbooks, it marks the beginning of their journey. Many individuals remain apprehensive about the risk of contracting COVID-19.
Although online casino options are not available in the state, sports bettors can still place their bets without relying on physical retail books. They have the convenience of choosing from three different mobile platforms for their wagering needs. These platforms are:
Maybe, when the casinos resume their regular operations, more individuals will feel secure enough to have a delightful evening at the sportsbook.
WV Sportsbook Revenue
Retail betting did not generate significant revenue in the past two weeks either. It is evident that earning substantial profits becomes challenging when sportsbooks incur a loss of $14,932.40 in the latest week.
In addition to bettors experiencing a profitable week, there is also a chance that sportsbooks might be issuing refunds for certain wagers.
Bets placed on the NCAA’s March Madness tournament or future bets on division winners in the NBA or NHL would be suitable. However, the majority of these wagers would be declared void by betting establishments, ultimately leading to a loss for the bettors.
The revenue for both sportsbooks for the week of June 13 showed a loss.
The Mountaineer suffered a loss of close to $10,000, while The Greenbrier experienced a decrease of over $5,100.
The Greenbrier outperformed all other retail books by earning approximately $2,400 in total. Hollywood Sportsbook was the sole runner-up, making a profit of $965.
The mountaineer incurred a loss of over $1,600 during the span of two weeks.
Despite the lackluster performance, the week of June 6 marked a significant turning point for retail books with a positive revenue of $16,699.60. This was the first time in a considerable period that they experienced a profitable week. It is worth noting that the previous occurrence of sportsbooks generating profits was during the week of March 7.
Help is on the way to navigate through these challenging times for retail betting.
If the number of new coronavirus cases remains low in WV, the state can proceed with further reopening. Consequently, there will be an increase in the number of individuals permitted at WV casinos and the potential opening of retail sportsbooks in the coming days.
There will be a significant amount of support from the betting markets in the near future.
After enduring a couple of months with limited options, sports fans can now look forward to a jam-packed end of July.
Following the return of the NBA, NHL, and MLB to the playing field, college football betting is scheduled to resume a month later, with the NFL closely following suit.
On The Board At WV Sportsbooks
Despite the shortened season of only 60 games, a World Series Champion will still be determined and awarded this October in baseball.
If you can’t visit any of the available retail sportsbooks, you have the option to place your bets using online apps.
At present, DraftKings presents the following odds for the team that will emerge as the 2020 World Series champions:
- Los Angeles Dodgers +375
- New York Yankees +400
- Houston Astros +650
- Atlanta Braves +1300
- Minnesota Twins +1600
- Tampa Bay Rays +1800
- Washington Nationals +1800
- Philadelphia Phillies +2000
- Louis Cardinals +2000
- Chicago Cubs +2200
- Cleveland Indians +2200
- New York Mets +2200
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