West Virginia Sports Betting Revenue Sees Sharp Decline The Week Sports Shut Down

Posted on March 25, 2020

As expected, the West Virginia sports betting figures saw a sharp decline for the week of March 14.

This was the first week that sports were affected by the spread of COVID-19, as the majority of American sports leagues suspended or canceled play the Thursday of that week.

The overall betting handle nearly cut in half for West Virginia sportsbooks, dropping to just over $4.6 million. This is about $3.9 million less than books saw in action the prior week.

Overall, this is the WV market’s worst week in terms of handle since Aug. 2019, when online sports betting apps made their return to the state.

Unfortunately for bettors and sportsbooks, this is just the beginning of the fall in betting figures. Most professional and college sports have shut down completely and there isn’t a definitive end in sight.

With WV casinos closed, betting is only available online.

Well, all three WV online sportsbooks have futures available and there are a few other sports being played. Even so, it appears that next month’s NFL Draft might be the most exciting event to bet on for the foreseeable future.

Still, sportsbooks are in for a rough couple of months until things get back to being normal in the US.

This week’s report includes activity from March 8-14 from these WV sportsbooks:

WV sports betting revenue highlights

The following are the key takeaways from the March 14 figures:

  • Overall handle significantly falls
  • Refunding futures reduced revenue

Unsurprisingly, the overall handle is way down. Sportsbooks accepted almost half as many wagers for March 14 as they did the week prior.

As mentioned, this week marks the second-lowest handle since online sportsbooks returned to the state.

Mobile betting apps accepted $2.9 million in bets, while retail locations totaled $1.7 million. Now that WV casinos are closed, the revenue report will soon be without retail handle and revenue

Obviously, this is devastating for those casinos that don’t offer a mobile platform, including Mountaineer, Mardi Gras, and Wheeling Island.

As for revenue for this week, it’s possible that sportsbooks lost as much as they did because they were forced to refund certain wagers. Any futures bet on one of the leagues that shut down most likely got returned to bettors, resulting in a loss for this week.

Although the NBA and NHL (among others) plan to return to action at some point, the XFL along with college basketball betting is done for the year.

Anyone who placed a future on the WVU Mountaineers to win the Big 12 Tournament or March Madness should have received their initial wager back.

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: $369,421,689.49
  • Revenue: $29,783,467.75
  • Taxes: $2,978,346.77

It was a very slow week for sports betting in WV. Overall handle reached just $4,625,930.32, a 45% decrease from a week ago.

Revenue struggled as well this week. Sportsbooks lost $269,198.82, a 120% drop from the week prior.

WV sports betting revenue for the week ending March 14, 2020

WV SportsbookOnline HandleRetail HandleTotal Handle Online RevenueRetail RevenueTotal Revenue
Hollywood Sportsbook + DraftKings $1,618,918.59$1,363,342.27$2,982,260.86$9,476.66-$108,209.46-$98,732.80
The Greenbrier + FanDuel Sportsbook$1,281,393.65$70,567.75$1,351,961.40$14,965.94-$47,757.25-$32,791.31
Mountaineer SportsbookN/A$161,850.66$161,850.66N/A-$116,787.13-$116,787.13
Wheeling Island SportsbookN/A$50,548.70$50,548.70N/A-$14,739.43-$14,739.43
Mardi Gras SportsbookN/A$79,308.70$79,308.70N/A-$6,148.15-$6,148.15
Total$2,900,312.24$1,725,618.08$4,625,930.32$24,442.60-$293,641.42-$269,198.82

A Closer Look At WV Sports Betting Handle

Hollywood Casino took the top spot for handle this week by a sizable margin. Its sportsbook accepted nearly $3 million in wagers in what was a disappointing showing statewide.

This is the first time that its overall handle has fallen below $3 million since debuting its DraftKings app.

The online sportsbook took in about $1.6 million in handle, while Hollywood’s retail book was close to $1.4 million.

The Greenbrier finished in second with over $1.3 million in bets. Its sportsbook had reached at least $2 million in handle for eight consecutive weeks before the shutdown.

The Greenbrier’s online apps, FanDuel and BetMGM, combined to take about $2.3 million less than they did last week.

Mountaineer Casino placed third with only $160,000 in handle. This was its worst week since July 2019.

Mardi Gras added close to $80,000 in bets, while Wheeling Island accumulated around $50,000.

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

  1. Hollywood Casino ($2,982,260.86)
  2. The Greenbrier ($1,351,961.40)
  3. Mountaineer Casino ($161,850.66)
  4. Mardi Gras Casino ($79,308.70)
  5. Wheeling Island ($50,548.70)

WV sports betting handle for Mar 14

A Closer Look At WV Sports Betting Revenue

It was a terrible week for sportsbooks in regards to making money. In fact, every sportsbook in the state finished in the red.

Mardi Gras Casino and Wheeling Island lost the least amount due to their lower betting handles. They combined to lose about $20,000 for the week of March 14.

The Greenbrier took third by losing over $30,000. This is the first time its sportsbook has gone negative in five weeks.

Even though FanDuel and BetMGM managed to earn a profit, they only made around $15,000 in total.

Hollywood lost the second most this week with almost $100,000. Similar to The Greenbrier’s results, Hollywood’s retail book lost money, whereas its DraftKings app was just into the black.

The online sportsbook generated about $9,500 in revenue.

Mountaineer Casino endured the worst week of all, losing more than $115,000. Its sportsbook has now lost money in four of the last six weeks.

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

  1. Mardi Gras Casino (-$6,148.15)
  2. Wheeling Island (-$14,739.43)
  3. The Greenbrier (-$32,791.31)
  4. Hollywood Casino (-$98,732.80)
  5. Mountaineer Casino (-$116,787.13)

WV sports betting revenue for Mar 14

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On the board for WV Sportsbooks

With most of the sports world on hold, there isn’t much available for bettors who love American sports. Although the 2020 NFL Draft is interesting every year, this one might be even more enticing because of its betting options.

All three online sportsbooks will have NFL Draft odds, including team and player props.

Even though one might not be drafted very high, there are plenty of quality running back prospects available. The following are DraftKings’ odds for which running back will be selected first:

  • D’Andre Swift -150
  • Jonathan Taylor +150
  • K. Dobbins +625
  • Clyde Edwards-Helaire +2500
  • Cam Akers +3500
  • Zack Moss +6000
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Chris Imperiale

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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