For the first time since online sports betting apps returned to the Mountain State, The Greenbrier accepted more wagers than Hollywood Casino.
The Greenbrier’s combination of BetMGM and FanDuel was able to overtake Hollywood with almost $5.6 million in handle for the week of Feb. 29.
Overall, it was a great week for sports betting in West Virginia.
The WV sports betting market is hitting its stride at the perfect time. The sports calendar starts to heat up in the next few weeks.
With the college basketball regular season completed, March Madness is just around the corner. The WVU Mountaineers are now a lock to compete in The Big Dance this year thanks to their season-finale victory over No. 4 Baylor.
WVU will look to enhance its NCAA Tournament seeding with a few more wins in the Big 12 Conference tournament. The Mountaineers have a chance to knock off Oklahoma for the first time after suffering two regular-season defeats to the Sooners.
The two sides meet Thursday night at the Sprint Center in Kansas City, Missouri.
This week’s report includes activity from Feb. 23-29 from these WV sportsbooks:
- Hollywood Casino Sportsbook and DraftKings Sportsbook
- The Greenbrier with FanDuel Sportsbook and BetMGM Sportsbook
- Mountaineer Sportsbook
- Mardi Gras Sportsbook
- Wheeling Island Sportsbook
WV sports betting revenue highlights
The following are the key takeaways from the Feb. 29 figures:
- The Greenbrier overtakes Hollywood Casino
- Overall handle reaching new heights
- College basketball results impact weekly revenue
The biggest news from this week’s revenue report is that The Greenbrier has taken control of the top producing sportsbook in the state. Its combo of its retail sportsbook, as well as its online options in FanDuel and BetMGM, were able to accept more bets than Hollywood Casino for the first time.
The competition between the two wasn’t necessarily fair before the launching of online sportsbooks. The Greenbrier is a private resort, while Hollywood’s sportsbook can be utilized by anyone who enters the casino.
The Greenbrier’s overall handle was over $5.6 million, around $1.3 million more than its previous best set last week. Its online betting apps accepted 99% of the total.
After seeing over $4.8 million in handle a week ago, Hollywood only managed around $4.5 million in bets.
The expansion of online platforms and their popularity has helped the market substantially. Sportsbooks set a new high for betting handle with more than $10.7 million in wagers. The week of Feb. 29 beat out the $10.3 million sportsbooks took in the week of Super Bowl LIV.
With sportsbooks accepting this much action right now, there is plenty of reason to be optimistic soon. College basketball betting is very popular, and March Madness begins in about a week.
The tournament should also help bring in more retail wagering. A lot of fans enjoy the gameday experience of sportsbooks, especially when there are multiple games to watch at once.
Even though college basketball games are exciting to bet on, taking the favorite doesn’t always work out.
Top-ranked Kansas beat Kansas State; however, it didn’t cover the spread. Baylor lost outright to unranked TCU, while No. 3 Gonzaga failed to cover at home against Saint Mary’s.
Then in the ACC, No. 6 Florida State and No. 7 Duke both lost on the road to lesser opponents.
Sportsbooks love upsets like these because most bettors tend to lean on the favorites or include them in moneyline parlays.
WVU’s results probably helped revenue figures, too. It lost both games during that week, including one as eight-point favorites at home against Oklahoma.
WV Sports Betting Summary
- Handle: $356,325,558.80
- Revenue: $28,715,187.33
- Taxes: $2,871,518.73
It was a noteworthy week for sports betting in WV. The overall handle had its best week with $10,749,890.83 in bets. This was a 10% increase from the previous week.
Despite dropping from last week, revenue figures were solid as well. Sportsbooks earned $534,897.91 for the week, a 32% decrease from a week ago.
WV sports betting revenue for the week ending Feb. 29, 2020
|WV Sportsbook||Online Handle||Retail Handle||Total Handle||Online Revenue||Retail Revenue||Total Revenue|
|Hollywood Sportsbook + DraftKings||$2,152,356.25||$2,348,455.48||$4,500,811.73||$199,245.32||$255,709.56||$454,954.88|
|The Greenbrier + FanDuel Sportsbook||$5,564,863.77||$59,680.25||$5,624,544.02||$26,180.79||$38,379.75||$64,560.54|
|Wheeling Island Sportsbook||N/A||$116,151.00||$116,151.00||N/A||$12,690.85||$12,690.85|
|Mardi Gras Sportsbook||N/A||$152,338.50||$152,338.50||N/A||$4,310.26||$4,310.26|
A Closer Look At WV Sports Betting Handle
It was a long time coming, but The Greenbrier was finally able to catch Hollywood Casino in sports betting handle. The resort took the top spot this week thanks to more than $5.6 million in wagers.
Although it was unclear when The Greenbrier’s sportsbook would reach first in the rankings, it did seem somewhat inevitable seeing how it’s the only retail book with more than one mobile platform.
Its release of BetMGM put The Greenbrier ahead of its competition, and just a few weeks later, it’s showing. BetMGM, along with FanDuel, combined for over $5.5 million in handle, beating its mark from last week by about $1.3 million.
The Greenbrier’s online handle has now increased in each of the last seven weeks.
Hollywood Casino finished in second with a respectable $4.5 million. This is about $325,000 less than its sportsbook saw for the week of Feb. 22.
Hollywood’s online option, DraftKings Sportsbook, only accepted about $2.1 million for the week. This figure is down around $500,000 from a week ago.
Since hitting nearly $3.2 million in bets for the week of Feb. 8, DraftKings hasn’t exceeded $3 million in any of the last three weeks.
Mountaineer led the way for sportsbooks without an online betting app. Its book totaled just over $355,000 in handle, $20,000 less than the week prior.
Mountaineer’s handle has now reduced in each of the last three weeks.
Mardi Gras Casino placed fourth with slightly more than $150,000. Its sportsbook has taken at least $100,000 in wagers for four straight weeks.
Wheeling Island was back over six figures of handle as well, accepting around $115,000 this week.
Here’s how the WV sportsbooks rank for weekly handle:
- The Greenbrier ($5,624,544.02)
- Hollywood Casino ($4,500,811.73)
- Mountaineer Casino ($356,045.58)
- Mardi Gras Casino ($152,338.50)
- Wheeling Island ($116,151.00)
A Closer Look At WV Sports Betting Revenue
While Hollywood Casino fell to second in handle, it ran away with the lead for revenue. Its sportsbook generated over $450,000 worth of profits for the week.
Of course, this is an excellent result for Hollywood; however, it’s actually around $3,000 less than it made a week ago.
Similar to its handle, Hollywood’s revenue breakdown was fairly even. Its retail location earned about $255,000, and its online app made just under $200,000.
The Greenbrier placed second with almost $65,000 in earnings. Somehow its retail location made more money than its online options, despite the handle breakdown.
FanDuel and BetMGM pulled in just $26,000 compared to the over $38,000 The Greenbrier’s retail sportsbook earned. Perhaps some NCAA Tournament futures bets were placed in person this week.
Wheeling Island finished third with more than $12,000 in revenue. This is the third consecutive week in which its sportsbook has made at least $8,000.
Mardi Gras added just over $4,000 in profits, down about $8,000 from a week ago.
Mountaineer came in last as the only sportsbook to finish in the red. It lost a little over $1,600 for Feb. 29.
Its sportsbook has had a very rough month of February. It’s now lost money in three of the last four weeks.
Here’s how the WV sportsbooks rank for revenue:
- Hollywood Casino ($454,954.88)
- The Greenbrier ($64,560.54)
- Wheeling Island ($12,690.85)
- Mardi Gras Casino ($4,310.26)
- Mountaineer Casino (-$1,618.62)
On the board for WV Sportsbooks
Despite winning their last two matchups and finishing the season back inside the AP Top 25, the Mountaineers have a tough road ahead in the Big 12 Conference tournament.
Since they finished tied with three other teams in the Big 12 at 9-9, their head-to-head outcomes determined their seeding. Unfortunately for WVU, it earned the No. 6 seed and must play Oklahoma in its first game Thursday night.
If WVU can pull out a win for the first time in three meetings with the Sooners, it will most likely get to face No. 2 seed Baylor once again the following day.
The good news for the Mountaineers is that they’ve solidified their spot in The Big Dance and are only looking to improve their path right now. They’re currently projected to be a No. 7 seed in the Midwest Region.
The betting odds for this game should be tight, seeing how Oklahoma won both regular-season games by at least 10 points. WVU should be favorites, though, as ESPN’s Basketball Power Index gives it a 69% chance of advancing.