DraftKings WV Sportsbook to the rescue
It’s been reported that DraftKings Sportsbook may soft launch in the WV betting market sometime this week. This information couldn’t have come at a better time for the Mountain State.
Ever since WV lost access to the BetLucky Sportsbook, WV’s only online sports betting platform, sports gambling figures have been consistently falling. DraftKings Sportsbook should help revitalize the entire market and allow WV residents to wager on sports from the convenience of their homes very soon.
The newest online sportsbook in the state will service what is already the most successful retail sportsbook in WV, the Hollywood Casino. Penn National Gaming, Hollywood’s operator, agreed to a deal with DraftKings in Dec. 2018.
Hollywood consistently posts the best numbers for both handle and revenue every week – and it is not even close. With the assistance of DraftKings, one of the best betting apps in the country, Hollywood Sportsbook could be reaching new heights soon.
As for the sportsbooks currently active in the state, they didn’t fare particularly well for the week ending May 18. Total handle dipped slightly again as it sits just above $2.1 million.
Revenue figures did enjoy a nice recovery, though. The state made more than $150,000 after losing around $10,000 a week ago.
Although the sports-betting industry in WV seemed to have become stagnant, a new online sportsbook could be the perfect remedy for this rural state.
This week’s report includes activity from May 12-18 for all five WV sportsbooks:
- Hollywood Casino Sportsbook
- Mountaineer Sportsbook
- The FanDuel Sportsbook at The Greenbrier
- Mardi Gras Casino Sportsbook
- Wheeling Island Sportsbook
WV Sports Betting Summary
- Handle: $116,335,923.18
- Revenue: $11,165,195.73
- Taxes: $1,116,519.67
The week of May 18 was slow for sports betting in WV. Overall handle dropped down to $2,176,969.32, a 2% decrease from the previous week.
Revenue figures, however, had a strong showing. After spending a week in the reed, it posted a healthy $156,985.95.
WV sports betting revenue for the week ending May 18, 2019
|Casino||Handle||Mobile Sports Betting Revenue||Retail Sports Betting Revenue||Total Revenue||Taxes (10%)|
|Mardi Gras Casino||N/A||N/A||-$90.00||-$90.00||-$9.00|
|Wheeling Island Hotel||N/A||N/A||N/A||N/A||N/A|
A Closer Look At WV Sports Betting Handle
The handle figures from the last two weeks look similar. Each active retail sportsbook lost around $10,000 in handle compared to the report from a week ago.
Hollywood Casino is at the top with just over $1.6 million in bets.
The Mountaineer Casino once again finished in second for handle. It pulled in just over $525,000 in wagers this week.
The Greenbrier finished in third with around $30,000.
It’s not surprising that the handle for the state continues to fall without an online option. Hopefully, that will all be changing soon.
- Hollywood Casino ($1,621,498.40)
- Mountaineer Casino ($525,156.67)
- The Greenbrier ($30,314.25)
- Mardi Gras Casino ($0)
- Wheeling Island ($0)
A Closer Look At WV Sports Betting Revenue
All three active land-based sportsbooks were profitable this week. Hollywood led the way with almost $125,000. This is a nice rebound from a week ago when it only generated around $25,000 in revenue.
The Mountaineer Casino also recovered nicely. It made nearly $25,000 after losing more than $35,000 last week.
The Greenbrier was in the black as well. This is now the fourth-straight week it’s posted positive revenue.
Wheeling Island didn’t have any payouts, while Mardi Gras Casino settled $90 worth of wagers.
Here’s how the WV sportsbooks rank for weekly revenue:
- Hollywood Casino ($123,323.15)
- Mountaineer Casino ($23,851.05)
- The Greenbrier ($9,901.75)
- Wheeling Island ($0)
- Mardi Gras Casino ($-90.00)
Impact of DraftKings Sportsbook in West Virginia
The new DraftKings Sportsbook will truly change the landscape of sports betting in WV. Bettors in the state proved that only having retail sportsbooks available is not enough to sustain a successful gambling market.
People simply do not have the time, money or energy to constantly make the long-distance trips to the casino to place bets. Acquiring an online platform like DraftKings is a big deal for both residents and the industry.
As mentioned, the DraftKings online sportsbook will be a huge improvement over the previous online betting app in WV. It provides a long list of sports, betting types and promotional incentives that the state hasn’t had before.
These features have made DraftKings one of the top NJ online sportsbooks for revenue since its launch.
The release of DraftKings WV Sportsbook should create more urgency for the other online options to go live, too. The other casinos in the state will not enjoy sitting out as DraftKings works to grow its customer list.
On the board for WV Sportsbooks
The NBA Finals begin on Thursday night as the Golden State Warriors look to win their third consecutive title. Kawhi Leonard and the Toronto Raptors stand in their way after taking down the top-seeded Bucks in the Eastern Conference Finals.
The DraftKings Sportsbook in NJ has the following odds to win the 2019 NBA Finals:
- Golden State Warriors -286
- Toronto Raptors +225
Stanley Cup Finals
The Stanley Cup Finals got underway on Monday night when the Boston Bruins protected home ice and beat the Blues in Game 1. Sportsbooks are now making them a sizable favorite to take home the Cup.
DraftKings NJ lists the following odds to win the Stanley Cup Finals:
- Boston Bruins -305
- Louis Blues +240