West Virginia sports betting endured another down week where it saw both overall handle and revenue figures fall. While there are only three WV sportsbooks actively taking wagers within the Mountain State, this will continue to be the trend until online sports betting makes a return.
The below average handle declined slightly for the second-straight week. It’s been hovering around the same mark of $2.6 million for a month now.
Even when the total handle has been stagnant, the state’s generated consistent positive revenue. That wasn’t the case for the week ending April 27.
Revenue dropped significantly and fell into the negative for the first time in 10 weeks.
Unfortunately, it doesn’t appear that this downward trend for sports betting in WV will change without an online option. This may happen sooner rather than later, thankfully, with three respected online sportsbooks coming to the WV sports betting market sometime in the near future.
The three newest online sportsbooks in WV will include:
It will be very interesting to see which of these launches first in order to grab the initial lead on the competition in WV.
This week’s report includes activity from April 21-27 for all five WV sportsbooks:
- Hollywood Casino Sportsbook
- Mountaineer Sportsbook
- The FanDuel Sportsbook at The Greenbrier
- Mardi Gras Casino Sportsbook
- Wheeling Island Sportsbook
WV Sports Betting Summary
- Handle: $109,652,366.15
- Revenue: $10,617,731.14
- Taxes: $1,061,773.19
The week of April 27 was another tough one for sports betting in the state. The handle dropped another 2% from a week ago for a total of $2,607,302.28.
Revenue also had a poor showing. It found its way into the negative for the first time in a while. The sportsbooks lost $29,989.42, a 115% decrease from the previous week.
WV sports betting revenue for the week ending April 27, 2019
|Casino||Handle||Mobile Sports Betting Revenue||Retail Sports Betting Revenue||Total Revenue||Taxes (10%)|
|Mardi Gras Casino||N/A||N/A||$-372.00||$-372.00||$-37.20|
|Wheeling Island Hotel||N/A||N/A||$-350.85||$-350.85||$-35.09|
A Closer Look At WV Sports Betting Handle
Breaking down the handle shows similar results to week’s past. Hollywood Casino dominates the market in handle consistently. If Hollywood didn’t always produce this many sports bets, the WV market would barely exist.
Even though it sits clearly at the top, the Hollywood Casino had a bad week, too. Its handle dipped below $2 million for the first time in three weeks.
On the other hand, Mountaineer Casino saw a slight jump in handle. It topped $600,000 for just the first time in a month.
The Greenbrier had no such luck. Its handle decreased again, falling below $35,000.
The handle continues to linger around the same middling figure. Bettors in WV won’t go out of their way to get to a retail sportsbook to bet unless something warrants that type of excitement.
It will be curious to see if the next report that includes the premier event on the horse racing calendar, the Kentucky Derby, shows any difference.
In a rural state like West Virginia, an online sportsbook is necessary for a sports betting market to survive. People will be much more inclined to place casual wagers from their own home if legal sportsbook apps were available.
Here’s how the WV sportsbooks rank for the weekly handle:
- Hollywood Casino ($1,945,470.33)
- Mountaineer Casino ($626,925.45)
- The Greenbrier ($34,906.50)
- Mardi Gras Casino ($0)
- Wheeling Island ($0)
A Closer Look At WV Sports Betting Revenue
The WV sportsbooks had a very difficult week in terms of generating revenue. Every sportsbook ended the week in the red except for The Greenbrier.
Although it’s good news to finish first and be the only casino to make money, The Greenbrier didn’t even produce $4,000. Any positive figure is a good sign, though, especially after the sportsbook lost nearly $9,000 the week prior.
That’s where the good news stops.
After pacing the state with nine-consecutive positive weeks, the Hollywood Casino lost almost $7,000 this week.
The loss was small, at least. The five other times Hollywood’s revenue was in the red, it was by more than six figures.
Despite pulling in more handle, the Mountaineer Casino had the worst week of all. It lost more than $25,000 after making around $70,000 last week. This is now the third time Mountaineer has reported negative revenue in the last five weeks.
Wheeling Island and Mardi Gras Casino are still sporting closed betting windows and posted a loss around $700 in bets that just settled.
It’s more and more evident with each week of reporting that WV sports betting needs a mobile option. Until that happens, both the handle and revenue will never thrive.
Here’s how the WV sportsbooks rank for weekly revenue:
- The Greenbrier ($3,393.25)
- Wheeling Island ($-350.85)
- Mardi Gras Casino ($-372.00)
- Hollywood Casino ($-6,913.17)
- Mountaineer Casino ($-25,746.65)
On the board for WV Sportsbooks
The Champions League semifinals continue this week as each matchup plays its second leg.
Barcelona took down Liverpool at home in the first match thanks to the mastery of Lionel Messi. The Spanish side carries a 3-0 lead heading the final leg.
Ajax was able to defeat Tottenham on the road 1-0 in the other semifinal. It heads back to the Netherlands looking to hold onto its slim lead.
Here are the updated odds to win the final according to DraftKings Sportsbook in New Jersey:
- Barcelona -225
- Ajax +300
- Tottenham +1000
- Liverpool +2200
The NBA playoffs are nearing the completion of the second round. There are several tight series within both conferences.
The Toronto Raptors and Philadelphia 76ers look poised for a long series after the Raptors were able to escape Philly with a Game 4 victory. The Eastern semifinal is tied at 2-2.
In the West, the Denver Nuggets just evened their series with the Portland Trailblazers. They’ll head home off the win and try to take the pivotal Game 5.
The FanDuel Sportsbook in NJ has the current odds to win these series:
- Philadelphia 76ers +205
- Toronto Raptors -260
- Portland Trail Blazers +126
- Denver Nuggets -152