West Virginia sports betting endured another tough week as bettors went home happy once again. Sportsbooks lost money for the third time in four weeks and took in their lowest total handle since December.
Even though revenue was down only a little more than $64,000, West Virginia online casinos didn’t see a bounce back after having to pay out nearly $750,000 in Super Bowl futures a week ago.
This week is the fifth time sportsbooks didn’t turn a profit as a whole since starting to accept sports wagers in September.
However, two sportsbooks were able to bring in revenue. It’s probably not a coincidence that they are the only ones with an online betting platform. Even so, mobile sports betting is such a small portion of revenue compared to mobile betting in other states.
This week’s report issued by the WV Lottery includes activity from Feb. 10-16 for all five WV sportsbooks:
- Hollywood Casino at Charles Town Races
- Mountaineer Casino, Racetrack & Resort
- The Casino Club at The Greenbrier
- Mardi Gras Casino & Resort
- Wheeling Island Hotel
BetLucky Sportsbook is still the only WV sports betting app. It services the Mardi Gras and Wheeling Island casinos and its impressive revenue figures this week are included in its respective casino’s totals.
WV Sports Betting Summary
Here are the latest figures for the industry since WV sports betting revenue tracking began in August 2018:
- Handle: $77,536,995.78
- Revenue: $7,499,998.22
- Taxes: $749,999.91
The week of Feb. 16 saw WV’s slowest sports betting week in some time. The total handle was the lowest it’s been in seven weeks by dropping to $3,948,434.48. This is a 17 percent decrease from the week prior.
Although the revenue was still down, it was significantly better than last week. The sportsbooks combined to fall just into the negative with -$64,086.99 in revenue. This figure is a 91 percent increase compared to the previous week.
WV sports betting revenue for the week ending Feb. 16, 2019
| Casino | Handle | Mobile Sports Betting Revenue | Retail Sports Betting Revenue | Total Revenue | Taxes (10%) |
|---|---|---|---|---|---|
| Hollywood Casino | $1,916,162.42 | N/A | $-117,210.8 | $-117,210.8 | $11,721.09 |
| Mountaineer Casino | $363,396.30 | N/A | $-30,634.85 | $-30,634.85 | $-3,063.49 |
| The Greenbrier | $188,857.15 | N/A | $-1,024.35 | $-1,024.35 | $-102.44 |
| Mardi Gras Casino | $869,957.34 | $36,363.58 | $9,988.26 | $46,351.84 | $4,635.18 |
| Wheeling Island Hotel | $610,061.27 | $36,934.57 | $1,496.65 | $38,431.22 | $3,843.12 |
| Total | $3,948,434.48 | $73,298.15 | $-137,385.14 | $-64,086.99 | $-6,408.72 |
A Closer Look At WV Sports Betting Handle
It’s no surprise that Hollywood Casino led in overall handle yet again. The casino did take a step back, however, like the majority of other sportsbooks did this week. Every book except The Greenbrier saw a decrease in handle.
Hollywood’s dip is notable because it’s the first time its sportsbook has not accepted more than $2 million in wagers since September. Even so, the casino still has a commanding grip on the WV market.
Despite seeing slight drop-offs from last week, both Mardi Gras and Wheeling Island find their names close to the top. Having the mobile app BetLucky continues to pay dividends for the two locations, while their competitors have yet to release an online sportsbook.
Unfortunately for the Mountaineer Casino, this week was one to forget. It posted its lowest handle since the casino’s opening week of taking sports bets in November.
The sports calendar might have plenty to do with these results. Football season is over except for the new AAF league and basketball and hockey have yet to reach their postseasons.
It makes sense that sports betting numbers will be down until March Madness begins next month.
Here’s how the WV sportsbooks rank for the weekly handle:
- Hollywood Casino ($1,916,162.42)
- Mardi Gras Casino ($869,957.34)
- Wheeling Island ($610,061.27)
- Mountaineer Casino ($363,396.3)
- The Greenbrier ($188,857.15)
A Closer Look At WV Sports Betting Revenue
Sports betting revenue is substantially better than a week ago when sportsbooks had to pay out a number of Super Bowl futures. This week’s report is actually able to provide an insight as to how the WV casinos are performing in regards to sports gambling.
One thing that stands out is the fact that the only two sportsbooks with an online book are the only money makers this week. Both Mardi Gras and Wheeling Island brought in a little over $36,000 in revenue just from their BetLucky app, solidifying them atop the list.
On the flip side, the Mountaineer and Hollywood casinos have reported negative revenue for the third time in the last month.
Here’s how the WV sportsbooks rank for weekly revenue:
- Mardi Gras Casino ($46,351.84)
- Wheeling Island ($38,431.22)
- The Greenbrier ($-1,024.35)
- Mountaineer Casino ($-30,634.85)
- Hollywood Casino ($-117,210.85)
WV March Madness
Although it doesn’t appear likely that the Mountaineers will be participating in this year’s NCAA Tournament, there will still be madness among the WV sportsbooks. In fact, all hope is not lost for a local team to make some noise as the Lady Mountaineers have a good chance of making March Madness.
Selection Sunday is March 17, but the NCAA selection committee gave a sneak peek at the teams likely to be top seeds. The first play-in games begin on March 19, so bettors are getting ready in anticipation of betting the Big Dance.
As of Feb. 26, the BetLucky mobile app has the following odds to win the Men’s NCAA Basketball Championship:
- Duke +200
- Field +300
- Kentucky +700
- Gonzaga +800
- Virginia +1000
- Michigan +1200
- Tennessee +1200
- Michigan State +1200
- North Carolina +1200
The full list of odds is available on the BetLucky app.
