The West Virginia sports betting market is back up on its feet. After a few difficult months with limited markets at WV sportsbooks, wagers in July were almost back to normal.
The latest report released by the WV Lottery shows that sportsbooks accepted nearly $15 million in bets last month.
With plenty of major sports making their comeback, both the WV online sports betting apps and retail books are seeing increases in wagers. The Mountain State’s overall handle was well over $5 million in the final week of July.
While retail sportsbooks are contributing, it’s been the online sportsbooks carrying the majority of the load. Not every land-based location opened immediately and casinos have also been limited with just 50% capacity.
That being said, online platforms accounted for over $10 million in bets, or 70% of the total handle.
The three mobile options in WV have been very popular around the state. They are:
Combined, the three brought in more than $3 million in handle for the week ending Aug. 1.
Although betting figures aren’t completely back to where they were prior to the COVID-19 shutdown, things are looking up.
The almost $15 million wagered in July is a sizable jump up from around $6 million in June. Handle increased 142% from month to month.
Revenue figures were strong, as well. WV sportsbooks earned more than $1.4 million in total in July.
Sportsbooks generated positive revenue in every week of the month. The most profitable was the week of July 25, when books made about $475,000.
Unlike with handle, the revenue breakdown is much more even between online and retail. Online apps earned almost $770,000, or 54% of the overall revenue.
WV sports betting July handle
Sports betting handle started looking much more normal in the month of July. Of course, getting a few of the most popular sports back certainly helped.
Even though the NBA and NHL made their returns, they weren’t around for July. Hockey restarted on Aug. 1, while the NBA featured just eight games before month’s end.
This means there were lots of bets being placed on other sports like Major League Baseball and soccer.
Regular season baseball was back at WV sportsbooks on July 23, and the MLS Is Back began on July 8.
These available markets helped make it a fairly successful month. Despite the circumstances, July betting this year was significantly more than last year.
Sportsbooks accepted just a little over $6 million in handle in July 2019. However, it should be noted that all of those wagers were taken through retail books, as an online platform wasn’t available at the time.
The DraftKings Sportsbook app helped it lead all other sportsbooks in handle for the month. DraftKings and Hollywood’s retail book combined to take in more than $8 million in wagers.
The online sportsbook was responsible for almost $5 million in handle, or 56% of the total.
The Greenbrier finished in second as the only other retail book with an online license. Both FanDuel and BetMGM together took in 98% of The Greenbrier’s overall handle of around $6 million.
Mountaineer Casino came in third among active sportsbooks with almost $750,000 in bets. The retail book doesn’t include an online option yet.
The positive news for Mountaineer is that retail betting is seeing massive increases lately. Its sportsbook accepted about $365,000 in the most recent week, after seeing just $370,000 total in the previous three weeks.
Sports betting at Mardi Gras Casino and Wheeling Island is still closed.
WV sports betting July revenue
Along with an improved handle, usually comes better revenue results. That has held true thus far with betting in the Mountain State.
The $1.4 million in July revenue is a solid increase from what sportsbooks earned in June. After generating slightly over $500,000 in June, revenues rose 175% last month.
These most recent revenue figures compare well to July 2019, too. Sportsbooks didn’t even exceed $490,000 in earnings a year ago.
As mentioned, though, there weren’t any online sportsbooks offered in July 2019.
Hollywood Casino led the way in terms of making the most revenue, as well. It earned nearly $900,000 in total during July.
While DraftKings took in more wagers, it didn’t make more than Hollywood’s retail book. The online sportsbook generated about $350,000 in revenue, compared to the nearly $550,000 at its retail location.
The Greenbrier placed in second again, making around $445,000 in July.
Since its online sportsbooks account for so much of its handle, BetMGM and FanDuel bring in the majority of The Greenbrier’s revenue.
They combined to earn more than $415,000 last month, 94% of The Greenbrier’s total.
Mountaineer finished last among open sportsbooks with only $85,000 in earnings. In order for it to ever compete with the leaders in the market, Mountaineer will need to launch a mobile betting app.
Of course, both Mardi Gras and Wheeling Island didn’t report any revenue, since they have not reopened. The last time either sportsbook accepted a wager was during the week of March 14, before sports stopped playing.
It’s been a tough few months, but it appears that sports betting in WV is getting back to normal.
If sports continue to play and avoid any more postponements due to the coronavirus, then sportsbooks should have several profitable months upcoming.
On the board at WV sportsbooks
WV sportsbooks are loaded with available markets for the first time in a while. Bettors can put action down on basically every sport except for football right now.
As the NHL finished up its first ever qualifier round of the playoffs, 16 teams remain in the tournament to win this year’s Stanley Cup.
The opening round saw multiple favorites go down, as they often do in playoff hockey. This second round should intensify even more as the top four teams from each conference join a postseason series.
Hockey’s next round begins on Tuesday afternoon. According to DraftKings Sportsbook, the following are the favorites to win this season’s title:
- Philadelphia Flyers +550
- Vegas Golden Knights +600
- Colorado Avalanche +625
- Tampa Bay Lightning +700
- Boston Bruins +750
- St. Louis Blues +900
- Washington Capitals +1300
- Carolina Hurricanes +1700
- Dallas Stars +1700
- Calgary Flames +2000
- Vancouver Canucks +2300
- New York Islanders +2300