Sports betting figures are once again looking good in the Mountain State. West Virginia sportsbooks accepted over $40 million in bets in the month of August.
This is a massive increase from the almost $15 million in handle they saw in July.
Betting figures increased in each of the four weeks of the month, capped by more than $13.5 million in wagers for the week ending Aug. 29.
In fact, WV sportsbooks have set new records in the last two weeks for overall betting handle. They took in nearly $12 million in bets a week ago, as well.
The previous record for sports betting handle in a week was set on Feb. 29, prior to the COVID-19 shutdown. It exceeded $10 million for the second time since debuting, with about $10.8 million.
Now that all of the retail sportsbooks are reopened and popular betting markets have returned, figures are seeing a boost. It also helps that there are more mobile options now.
There are two new online sportsbooks available for download in the state. William Hill Sportsbook, along with the betly app, both launched last week. This should only increase the action as online sports betting apps were responsible for the majority of wagers in August.
Mobile platforms took over $31 million in bets, which is about 77% of the overall handle.
Sportsbooks did well in regards to earning revenue, too. They earned about $2 million over the course of the month.
Despite the discrepancy with the betting handle, the revenue split was much more even. Retail sportsbooks totaled almost $900,000 in profits.
This is a great sign for a growing market. Sports betting figures are officially back to normal, and NFL betting has begun.
WV sports betting handle
The sports betting handle in August was more than impressive. Many expected figures to jump up in the month, but not by this much.
In the last week of July, sportsbooks saw about $5.5 million in bets. Now in the most recent week, this figure has nearly tripled.
Of course, the addition of several sports betting apps would have a hand in this, but the new online books just became available.
A better explanation is the return of some of the most popular betting markets in the US.
With the NBA and NHL playoffs going on, as well as the middle of the MLB season, bettors of all sports have something to wager on.
This should continue through September, as all three leagues will still be playing in October.
The Greenbrier led all others in the state in handle. The fact that it has a partnership with two online sportsbooks is starting to become more evident in the weekly reports.
The private resort totaled more than $24 million in August, with over $10 million of that coming the week ending Aug. 29.
Together, they accepted about $23.9 million in handle, or 98% of the total.
Hollywood Casino falls to second for the first time in a while. It totaled around $14 million in handle for the month.
Although its DraftKings Sportsbook didn’t match the online production at The Greenbrier, it didn’t do too poorly.
DraftKings took in over $7 million in bets during August. This was 51% of Hollywood’s total.
Mountaineer Casino finished third strictly on its retail sportsbook. Its handle was just shy of $2 million.
The retail establishment will receive plenty of help soon, though. William Hill Sportsbook is now live and will report betting figures in upcoming reports.
This is the first time Mountaineer has offered mobile wagering.
While Wheeling Island’s land-based sportsbook wasn’t back yet, Mardi Gras Casino’s retail location and betly app did open for business in August.
In a few days on the market, betly tallied around $1,600 in bets. As a whole, Mardi Gras’ handle was about $7,000.
WV sports betting revenue
Sports betting figures in WV should only continue to increase with the fall season. Football is usually one of the most wagered on sports at sportsbooks across the country.
NFL betting is popular everywhere, and WV residents love college football, as well.
Lots of fans put some money down on the WVU football team each week during the season.
With both leagues preparing to start this week, sportsbooks should see a sizable jump in handle and revenue.
WV operators earned about $2 million in August, around $600,000 more than in July.
While it’s not always the case, more betting typically results in more revenue. Having some of the top markets back at sportsbooks has been crucial.
Hollywood Casino kept its spot atop the revenue leaderboard. Thanks to help from its retail sportsbook, Hollywood made over $1.4 million last month.
DraftKings pulled its weight, as well. The mobile app earned at least $100,000 in each week, totaling more than $600,000.
The Greenbrier placed second for revenue with only about $475,000 in August. Its retail book actually lost money during two of the weeks, so FanDuel and BetMGM actually earned more than the total.
The online sportsbooks made nearly $490,000 in earnings.
These losses can be explained by futures bets being paid out. Sometimes if bettors are placing a larger wager, they prefer to do so at a retail sportsbook.
Mountaineer finished third, making almost $100,000. It would have easily exceeded that mark if it hadn’t lost over $30,000 for the week of Aug. 15.
Mardi Gras Casino paid out about $1,300 worth of wagers after reopening.
Like at Mountaineer, it appears that Mardi Gras’ retail book lost money because of futures that hit. The betly app alone earned $140 in its short stint.
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