Following four-consecutive weeks of making money, the Mountain State sportsbooks took a sizable step backward and lost more than $40,000. In fact, only one retail sportsbook in the state barely finished in the black for the week ending June 15.
The legal sports betting market in WV has become stagnant due in large part to the lack of an online sportsbook.
With so many regulations to comply with, the West Virginia Lottery, as well as the sportsbook operators, are taking every precaution before launching another online sportsbook.
Eventually, there will be at least three mobile options in the state. These will include:
Unfortunately, there is no set timetable for the release of any of these. DraftKings remains the favorite to be first since it is the only one to complete any state-required testing.
Perhaps when online betting returns, so will the action from gamblers in WV. Overall handle dipped slightly after a small increase last week.
If WV bettors are tired of waiting, they can now officially head over the Pennsylvania border to place a wager on one of two PA online sportsbooks.
This week’s report includes activity from June 9-15 for all five WV sportsbooks:
- Hollywood Casino Sportsbook
- Mountaineer Sportsbook
- The FanDuel Sportsbook at The Greenbrier
- Mardi Gras Casino Sportsbook
- Wheeling Island Sportsbook
Mardi Gras and Wheeling Island’s sportsbooks are still closed for business, although, they continue to pay out settled wagers.
WV sports betting summary
- Handle: $124,880,313.84
- Revenue: $11,759,625.71
- Taxes: $1,175,962.68
The week of June 15 remained slow for sports bets in WV. The total handle fell in the state to $2,227,900.35, a 3% decrease from the week prior.
Revenue figures also suffered a setback. The sportsbooks lost $40,963.10, a 117% decrease from the previous week.
WV sports betting revenue for the week ending June 15, 2019
|Casino||Handle||Mobile Sports Betting Revenue||Retail Sports Betting Revenue||Total Revenue||Taxes (10%)|
|Mardi Gras Casino||N/A||N/A||N/A||N/A||N/A|
|Wheeling Island Hotel||N/A||N/A||$-95.45||$-95.45||$-9.55|
A closer look at WV sports betting handle
The betting handle for the week only dropped by a small amount, however, it’s been struggling for quite some time now. The handle has actually not reached the $2.7 million mark since the month of March when online betting was initially suspended.
Hollywood Casino leads the week as per usual. It brought in almost $1.7 million in handle, about $70,000 more than last week.
Even though this figure is impressive compared to its WV competition, it truly isn’t. Hollywood has had its handle exceed $3 million on two separate occasions, however, it hasn’t hit just $2 million once in the last two months.
Mountaineer finished second with just a little over $500,000. This is now three-straight weeks that its handle has decreased.
The Greenbrier also saw its handle fall. After a nice showing in the last report, The Greenbrier’s handle diminished by about $50,000 this week.
Here’s how the WV sportsbooks rank for weekly handle:
- Hollywood Casino ($1,676,329.20)
- Mountaineer Casino ($526,152.90)
- The Greenbrier ($25,418.25)
- Mardi Gras Casino ($0)
- Wheeling Island ($0)
Major takeaway: WV needs online betting
The biggest takeaway from this week’s handle breakdown is simple: the WV sports betting market will continue to struggle without online betting.
How important is online betting? Over 80% of bets made in NJ are online even though the Garden State features 10 different retail locations to bet.
West Virginia is a rural state and many residents don’t have easy access to a sportsbook. Even if people are interested in placing bets, they’re unable to do so.
A mobile option would open the door, not only to the West Virginian’s but to bettors in surrounding states that do not have sports betting options.
A closer look at WV sports betting revenue
Revenue figures were terrible this week. It’s the first time the WV sportsbooks have lost money in a month.
Hollywood Casino regained its top position, but it also had a poor performance. Hollywood’s sportsbook pulled in just over $10,000 this week. It is the book’s lowest revenue figure since April.
Mountaineer Casino had a rough week, too. After leading in revenue a week ago with more than $150,000, it lost nearly $35,000. Mountaineer has now ended up in the red in four of the last eight weeks.
The Greenbrier had a disappointing result as well. Its sportsbook lost almost $17,000 for the week. This is the first time The Greenbrier has come up in the negative in two months.
Wheeling Island paid out about $100 in settled bets, while Mardi Gras Casino didn’t have any.
Here’s how the WV sportsbooks rank for weekly revenue:
- Hollywood Casino ($10,400.05)
- Mardi Gras Casino ($0)
- Wheeling Island ($-95.45)
- The Greenbrier ($-16,680.25)
- Mountaineer Casino ($-34,587.45)
Major takeaway: Revenue more likely to dip
The main takeaway from looking at the revenue figures is revenue is more likely to be smaller, or even negative while handle continues to decline.
It’s difficult to determine exactly what alters the weekly revenue figure because there are so many moving parts in sports gambling.
With that being said, it does make sense that the sportsbooks are not profiting as much as they could be with such a mediocre handle each week combined with the lack of legal betting apps in WV.
Even though more bets don’t guarantee positive revenue, it certainly helps its chances.
On the board for WV sportsbooks
FIFA Women’s World Cup
The 2019 FIFA Women’s World Cup has entered the knockout stage as only the best teams in the world now remain. According to the DraftKings Sportsbook in NJ, here are the following odds to win the tournament:
- USA +150
- France +350
- Germany +500
- England +750
- Netherlands +1200
- Sweden +1900
Tennis players in the most prestigious tennis tournament in the world, Wimbledon, will step on the court beginning July 1. The gentlemen’s draw is a bit more predictable than the ladies’.
The bets are on one of the top three men to hoist the trophy:
- Novak Djokovic
- Roger Federer
- Rafael Nadal
On the ladies’ side, no clear favorites have emerged. Most likely this has to do with the revolving door of slam champions. Naomi Osaka is the only multiple-slam winner in the last 18 months.