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West Virginia Sports Betting

King Of The Hill: One WV Sportsbook Earns 98% Of Sports Betting Revenue

WV sportsbook dominates revenue

West Virginia sports betting handle increased for the first time in three weeks, even without any mobile sports betting apps.

Although it was just an uptick of around $300,000, the Mountain State sports betting market still has a pulse thanks to the Masters. One sportsbook, Hollywood Casino Sportsbook, is responsible for 98% of this week’s revenue and continues to dominate the market.

Even with the rise in wagers, the just over $2.6 million in handle for the week ending April 13 is still one of the lowest figures WV has seen in the last six months.

It’s clear that bettors are not willing to consistently travel to the land-based WV sportsbooks. Without access to an online option, there’s no reason to believe handle will continue to rise.

The Masters is one of the most wagered golf events every year, so that could easily explain the slight jump for the week. However, it should be noted that the tournament ended the day after this report’s figures were published.

It’s quite possible that the Tiger Woods victory will result in a substantial loss for books for the following week since he was such a popular futures pick.

On the bright side, sportsbooks generated a profit yet again. This is now the eighth-straight week they’ve brought in positive revenue.

This week’s report includes activity from April 7-13 for all five WV sportsbooks:

WV sports betting summary

Here are the latest figures released by the WV Lottery Commission since WV sports betting revenue tracking began in August 2018:

  • Handle: $104,386,584.09
  • Revenue: $10,440,192.38
  • Taxes: $1,044,019.32

Despite being an improvement, the week of April 13 was still was very slow for sports betting in WV. The total handle of $2,683,560.50 was a 13% increase from a week ago.

Although still in the black, revenue was down slightly. Sportsbooks produced $183,612.65, a 5% decrease from the previous week.

WV sports betting revenue for the week ending April 13, 2019

CasinoHandleMobile Sports Betting RevenueRetail Sports Betting RevenueTotal RevenueTaxes (10%)
Hollywood Casino$2,138,282.45N/A$205,589.60$205,589.60$20,558.96
Mountaineer Casino$446,671.30N/A$-3,149.35$-3,149.35$-314.94
The Greenbrier$98,606.75N/A$27,655.00$27,655.00$2,765.50
Mardi Gras CasinoN/A$-15,634.20$-269.00$-15,903.20$-1,590.32
Wheeling Island HotelN/A$-11,102.50$-19,476.90$-30,579.40$-3,057.94
Total$2,683,560.50-26,736.70$210,349.35$183,612.65$18,361.26

A closer look at WV sports betting handle

The Hollywood Casino made a nice bounce back this week after a poor showing in the prior report. It once again led all others and topped the $2 million mark after failing to do so last week.

Even though comparing Hollywood’s handle with its previous week’s figures is interesting, there is no comparison with its sportsbook and any other in the state when it comes to production levels.

Hollywood Casino’s grip on the market has grown even stronger with several other WV sportsbooks closed. In fact, the handle at Hollywood accounted for 80% of the state’s total.

The Mountaineer Casino’s handle fell for the third consecutive week as it took less than $500,000 in wagers. This was actually Mountaineer’s worst showing in regards to handle in two months.

The Greenbrier saw a rise in handle from a week ago but still didn’t hit six figures.

An increase in the overall handle will be difficult for sportsbooks moving forward. The Masters helped bring in more action, but it doesn’t seem that the NBA or NHL playoffs are moving the dial all too much.

Perhaps as both postseasons get closer to the finals, more bettors will take an interest.

One thing that is certain is each of these sportsbooks would be taking in a larger handle if they had an online platform available. Besides weeks where there is something specific occurring that increases the number of bets, it seems like figures in WV will continue to drop.

Here’s how the WV sportsbooks rank for the weekly handle:

  1. Hollywood Casino ($2,138,282.45)
  2. Mountaineer Casino ($446,671.30)
  3. The Greenbrier ($98,606.75)
  4. Mardi Gras Casino ($0)
  5. Wheeling Island ($0)

WV sports betting handle

A closer look at WV sports betting revenue

Hollywood Casino dominated the revenue category as well. It topped more than $200,000 this week, about $50,000 more than last. Hollywood has now recorded eight-straight weeks with positive revenue.

The Greenbrier was the only other sportsbook in the black. It generated more than $25,000 after losing about $15,000 last week.

Mountaineer Casino fell back into the negative following a good showing in the last revenue report. It now has posted negative revenue in four of the last six weeks.

Wheeling Island and Mardi Gras Casino lost a combined total of around $45,000. In spite of not accepting any new bets, the two are still paying out settled wagers.

Similar to handle, it will be difficult for these sportsbooks to earn a lot of revenue because of the inconvenience created by not having an online option.

It appears that Hollywood Casino’s location is helping it sustain some business, but even Hollywood’s sportsbook isn’t meeting expectations without a mobile presence.

Here’s how the WV sportsbooks rank for weekly revenue:

  1. Hollywood Casino ($205,589.60)
  2. The Greenbrier ($27,655.00)
  3. Mountaineer Casino ($-3,149.35)
  4. Mardi Gras Casino ($-15,903.20)
  5. Wheeling Island ($-30,579.40)

WV sports betting revenue

On the board for WV sportsbooks

NHL playoffs

Now that the Tampa Bay Lightning have been historically bounced from the 2019 postseason, it seems like this year’s Stanley Cup is officially up for grabs.

With the first round nearing completion, here are the favorites to win it all according to DraftKings Sportsbook in New Jersey:

  • Washington Capitals +600
  • Columbus Blue Jackets +650
  • Louis Blues +700
  • Boston Bruins +750
  • New York Islanders +750
  • San Jose Sharks +800

NBA playoffs

The NBA playoffs haven’t had any similar upsets, so not much has changed with the first round coming to a close as well.

Here are the odds Draftkings lists to win the NBA Finals:

  • Golden State Warriors -210
  • Milwaukee Bucks +450
  • Houston Rockets +600
  • Toronto Raptors +900
  • Boston Celtics +1100
  • Philadelphia 76ers +1500

UEFA Champions League

The Champions League semifinals get underway next week as four European clubs look to be crowned the continent’s best.

DraftKings has the following odds to win the final:

  • Barcelona +150
  • Liverpool +240
  • Tottenham +420
  • Ajax +450

About

Chris Imperiale covers sports betting and the online casino industries. He has a journalism degree from Rutgers University and was formerly on staff at Bleacher Report.

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