The sports betting market in West Virginia sports betting is in a difficult place. With only a few months remaining until both the college football and the NFL season kickoff, the Mountain State is still without an online sports betting platform.
Week after week, It is increasingly clear that a mobile sports app is necessary to sustain a successful sports wagering market.
Surprisingly, WV sportsbooks managed to generate a solid bump up in revenue. However, the overall handle continued to disappoint for the week ending June 29.
Handle figures remained below $1.6 million for the week, the lowest it’s been in WV since the first two weeks of legal sports gambling.
Until these online sports betting apps launch, WV bettors must utilize one of the three active land-based sportsbooks in the state.
Those close to the Pennsylvania border have other options, though. The Keystone State now has three online sportsbooks in the PA sports betting market and it appears WV bettors are making plans to cross the border come fall.
This week’s report includes activity from June 23-29 for all five WV sportsbooks:
Mardi Gras Sportsbook and Wheeling Island Sportsbook are still closed. In fact, this is the first week both sportsbooks didn’t pay out any settled bets resulting in zeros in every column in the revenue report.
WV Sports Betting Summary
- Handle: $127,784,773.48
- Revenue: $11,932,348.30
- Taxes: $1,193,234.94
Betting action was slow yet again for the week of June 29. Despite the handle growing 8%, it was an unimpressive $1,510,352.68.
Revenue figures did significantly better. Sportsbooks generated $146,359.18, a 455% increase from the previous week.
WV sports betting revenue for the week ending June 29, 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||N/A||N/A||N/A|
A Closer Look At WV Sports Betting Handle
Total handle continues to be a disaster. In spite of doing slightly better than the week prior, the WV handle is hovering at its lowest point since the state started accepting legal wagers.
Handle failed to reach $2 million for just the seventh time since WV sportsbooks debuted in Sept. 2018.
The only good news surrounding the WV market at the moment is based around Hollywood Casino. Its sportsbook was able to surpass $1 million in wagers after coming up short a week ago.
Hollywood’s sportsbook handle hadn’t dropped below the $1 million mark since its opening week of betting.
On the other side of the spectrum, Mountaineer Casino continues to fall the wrong way. Its handle reduced around $35,000 following a bad showing last week.
This is now the second-consecutive week the sportsbook didn’t reach $400,000 after doing so the previous 18 weeks.
The Greenbrier more than doubled its handle from a week ago, but it still only totaled a little over $20,000.
Here’s how the WV sportsbooks rank for weekly handle:
- Hollywood Casino ($1,136,678.88)
- Mountaineer Casino ($351,475.80)
- The Greenbrier ($22,198.00)
- Mardi Gras Casino ($0)
- Wheeling Island ($0)
Major takeaway: Sports betting is in slow period
Besides the fact that WV doesn’t have an online sportsbook, the current lull in exciting sporting events could be taking a toll on the state’s betting handle. Even though people enjoy betting on baseball and things like Wimbledon, there really isn’t much going on in the sports world right now.
With basketball, hockey and now soccer completely finished for the season, sportsbooks will have to endure a few difficult months where baseball is garnering the most betting action.
The end of this slow period is in sight, though. The college football season starts in August this year for most programs.
Although the WV sports betting market isn’t meeting expectations right now, sportsbooks won’t really start to miss out until football begins. All three active sportsbooks need to have their sights set on launching a mobile option by the end of August when betting numbers are likely to skyrocket.
A Closer Look At WV Sports Betting Revenue
Although the handle was poor once again, WV sportsbooks were able to pull in a significant amount of revenue for the week. Sportsbooks made more than $100,000 for the first time in three weeks.
In fact, every active sportsbook made money this week.
Hollywood Casino got back to leading the category following a rare week of coming up in the red. Its sportsbook made more than $100,000 for the first time in a month.
Mountaineer Casino finished in a distant second with around $6,000. Its sportsbook hasn’t reached $100,000 in revenue in three weeks.
The Greenbrier had positive revenue as well, although it was just over $4,000.
Both Wheeling Island and the Mardi Gras Casino didn’t pay out any wagers this week. It’s possible the two sportsbooks have settled all of their open bets accepted before their March shut down.
Here’s how the WV sportsbooks rank for weekly revenue:
- Hollywood Casino ($135,790.33)
- Mountaineer Casino ($6,347.85)
- The Greenbrier ($4,221.00)
- Wheeling Island ($0)
- Mardi Gras Casino ($0)
Major takeaway: Revenue figures are unpredictable
Revenue figures are nearly impossible to predict, especially on a weekly basis. This week’s report is a perfect example of how volatile the sports betting market can be.
Even with the handle for the state being lackluster the last two weeks, the sportsbooks have still come away with a profit. In this week’s case, a significant one.
A higher handle typically coincides with more revenue for the sportsbooks, but not always.
In Nov. 2018, sportsbooks eclipsed $3 million in handle for two-straight weeks. Somehow the books managed to lose close to $200,000 in revenue both times.
Then during weeks like this one, the handle can be around the lowest it’s ever been and sportsbooks still come away with a six-figure profit.
On the board for WV Sportsbooks
The world’s most famous tennis tournament is nearing completion as the second week of action unfolds at Wimbledon. According to DraftKings Sportsbook in New Jersey, here are the following odds to win both the men’s and women’s sides:
- Novak Djokovic -143
- Roger Federer +350
- Rafael Nadal +350
- Roberto Bautista-Agut +5000
- Guido Pella +5000
- Serena Williams +150
- Simona Halep +275
- Johanna Konta +500
- Elina Svitolina +1000
- Alison Riske +1400
The WVU Mountaineers and Marshall Thundering Herd might be a few months from taking the field, but betting on college football futures is well underway.
Over/Under on regular-season wins:
- WVU: Over 5 -145 / Under 5 +125
- Marshall: Over 7 -125 / Under 7 +105
To win the conference:
- WVU (Big 12) +1800
- Marshall (CUSA) +900