It was a difficult month for West Virginia sportsbooks. In February, they only accepted around $38 million in total handle.
This is a significant decrease of more than $12 million compared to the Mountain State’s overall handle in January.
Part of this fall can certainly be attributed to the conclusion of the football season. Both the NFL and college football betting stopped for the most part in January, with only the Super Bowl occurring the following month.
The reduction in betting was evident at both retail locations and WV online sports betting apps.
Online sportsbooks barely exceeded $27 million in handle, while retail books took in about $11 million.
After 26 straight weeks with a handle over $10 million, the streak was broken last month. Sportsbooks generated more than $10.5 million through each of the first two weeks but then failed to reach $9 million during the final two.
The last time betting figures were this low was in August 2020.
This slow month of wagering led to a weak showing for revenue as well. WV sportsbooks earned just $1.3 million in February, compared to nearly $4 million the month prior.
Let’s take a deeper look at last month’s betting report and break down all of the wagering data.
WV sports betting February handle
February 2021 was one of the worst months in the WV market in quite some time. The $38 million in handle is the lowest in the state since last August, when books still accepted more bets.
Of course, August was a relatively slow month of wagering, since it was before the football season and winter sports had just restarted.
February’s handle is a 25% drop-off from January’s production.
As mentioned, sportsbooks had two particularly slow weeks. The week of Feb. 20 saw slightly over $8 million in handle. This was the worst week since Aug. 8, when bets accumulated around only $7 million.
Although online platforms accounted for 71% of the overall handle, they didn’t have an impressive month.
Their handle never eclipsed $8 million in a week, and it actually dipped to about $6 million in the last two weeks. This was the first time the weekly online handle fell below $7 million since the week ending Nov. 14.
Retail betting struggled, too. Land-based sportsbooks saw their handle drop below $2 million for the week of Feb. 20. The $1.9 million in wagers was their lowest performance since Aug. 29.
Hollywood Casino led all others for the month with more than $17 million in bets. Its online app DraftKings WV pulled in almost $11 million, whereas its retail book was around $6 million in handle.
The Greenbrier wasn’t far behind, tallying over $14 million in February. Its online combination of FanDuel WV and BetMGM WV were responsible for the majority of wagers. The resort’s retail book only saw about $370,000.
Mountaineer finished third with around $3.7 million in monthly bets. Its William Hill Sportsbook WV totaled over $1.3 million during the four weeks.
Mardi Gras Casino was fourth, while Wheeling Island placed last among active sportsbooks. Mardi Gras’ handle was almost $2 million, compared to its sister property at just $550,000.
They both utilize Betly Sportsbook, which netted Mardi Gras about $430,000 and Wheeling $75,000.
WV sports betting February revenue
WV sportsbooks had a rough month in terms of revenue, too. The about $1.3 million in earnings is a 66% decline from January betting.
When looking at the report, it appears that the revenue flow had a crazy up-and-down week. This is because of the Super Bowl and all of the money that was taken on the big game.
In the week leading up to the Super Bowl, sportsbooks “made” almost $3 million. Since the game garners so many bets, many put their money down in advance as opposed to most other sporting events.
With that week ending on Saturday, all of the wagers placed on the Super Bowl before Sunday were counted as positive revenue.
That is why, the following week, sportsbooks “lost” over $2.5 million when they needed to pay out all the NFL bets. This would also include any futures that were still alive.
So in total, for the two weeks, the WV market made $430,000 in profits.
Beyond the movement at the beginning of the month, one other week stuck out among the others. Sportsbooks earned just $20,000 for the week of Feb. 20.
Besides weeks that ended in the red, sportsbooks made at least six figures in every other week of this fiscal year.
The Greenbrier took first in this category and was comfortably ahead of its competitors. It made a total of nearly $1.2 million for the month, with its online platforms taking in the majority of that.
Hollywood was a distant second with about $400,000 in revenue. It lost money during multiple weeks in February.
Its DraftKings app earned only around $65,000.
Wheeling Island was the only other sportsbook to earn a profit in the month. It made $30,000, with over $13,000 of that coming online.
Mardi Gras lost more than $22,000, even though its Betly app earned about $14,000.
Mountaineer was down over $230,000. Its retail option made a few thousand; however, its William Hill app was more than $237,000 in the negative.