WV Sports Betting Heavyweights Begin To Emerge

Written By Kim Yuhl on January 18, 2019 - Last Updated on January 29, 2019

West Virginia sports betting has been live for more than four months, and some leaders are starting to emerge.

There are five WV sportsbooks at local casinos:

Additionally, one mobile sports betting app, BetLucky.com, launched in December 2018 and is contributing the numbers.

Here is a top-level look at the revenue figures available from the WV sportsbooks through the week beginning Jan. 5, 2019:

  • Handle: $42.6 million
  • Revenue: $5.5 million
  • Taxes: $552,805

WV sports betting revenue leader

The Sportsbook at Hollywood Casino at Charles Town Races was the first book to launch, and it has stayed atop the revenue leaderboard since the beginning.

To date, it is the only sportsbook to accept more than $1 million in sports bets in a week. It has done that four times. It has also received bets worth more than $2 million 13 times. One time, it was more than $3 million.

Yes, it had the sports betting market all to itself for two weeks, but its location may be the real advantage. It’s proximity to the borders of Virginia, Maryland and even Washington, D.C. likely plays an essential role in its dominance.

A few things stand out when looking back on the recent revenue data:

  • The weekly handle at Hollywood Casino has remained relatively stable and has not fallen below $2 million since October 2018.
  • Mountaineer sits solidly in second place, at least for now.
  • Wheeling and Mardi Gras more than doubled their revenue from their first week of operation (Dec. 29) to their second (Jan. 5).
  • For the time being, the exclusivity factor of the FanDuel Sportsbook at Greenbrier will keep Greenbrier at the bottom.

WV sports betting revenue for the week beginning Jan. 5, 2019:

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WV sports betting revenue for the week beginning Dec. 29, 2018:

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Another observation worth noting is the significant dip in revenue for Hollywood Casino for the week beginning Jan. 5.

The College Football Championship played out on Jan. 7, meaning the futures bets were paid out during the week. It is hard to say whether that is the whole story, but it is undoubtedly a good portion of it.

What about WV mobile sports betting?

As mentioned, WV is currently home to one mobile sports betting app, BetLucky.com. It launched at the same time as Mardi Gras and Wheeler; it serves both properties.

It has hardly made the impact expected based on the results from other states with mobile sports betting, such as Nevada and New Jersey.

The revenue report breaks out revenue by retail and mobile sportsbooks, but the handle is a combined figure.

The BetLucky.com app for Wheeling Casino earned $29,581.96 for the week beginning Jan. 5 and $18,965.14 for the week beginning Dec. 29.

The BetLucky app for Mardi Gras earned $6,665.50 for the week beginning Jan. 5 and $24,507.52 for the week starting Dec. 29.

Mobile sports betting giants DraftKings Sportsbook and FanDuel Sportsbook are likely to enter the market soon. Once they do, look for the entire sports betting revenue landscape to change.

Since the casinos’ sports betting revenue includes mobile revenue, you can look for Greenbrier to move up the leaderboard. Accordingly, DraftKings’ partnership with Hollywood Casino means it is likely to stay up top for the foreseeable future.

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Kim Yuhl

Kim Yuhl has over five years of experience writing about poker culture, the online gambling industry, and more recently, the legalization of sports betting.

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