West Virginia sports betting had a historic week in terms of making money. Last week, WV sportsbooks returned to the black after a few rough weeks.
This week, the sportsbooks continued their positive movement. In total, they generated nearly $750,000 in revenue or the week ending March 2.
In fact, it is the second-highest weekly total recorded since WV started accepting sports wagers in August 2018. Every single sportsbook in the state finished the week with positive revenue.
The total handle took a slight hit and only amassed $3,797,635.12. However, it is still a solid number considering this time of year is typically a slow sports betting period.
Most impressive, though, is that mobile sports betting had its best week to date, making over $140,000.
Unfortunately, the performance and optimism are being overshadowed by the news that two of WV’s retail sportsbooks and its only online platform are temporarily suspended due to a contract dispute with their technology provider.
Wheeling Island and Mardi Gras Casino, along with their sports betting app, BetLucky Sportsbook, have all stopped their sports-betting operations effective immediately. That leaves WV without a mobile-betting platform.
The terrible news for the WV sports-betting market will start to be reflected in the next report.
Delaware North, the owner of both casinos, has said it hopes the closure is only temporary. Although now suspended, all three sportsbooks were operational for the full week of this report.
This week’s report includes activity from February 24 – March 2 for all five WV sportsbooks:
- Hollywood Casino at Charles Town Races
- Mountaineer Casino, Racetrack & Resort
- The Casino Club at The Greenbrier
- Mardi Gras Casino & Resort
- Wheeling Island Hotel
WV Sports Betting Summary
Here are the latest figures for the industry since WV sports betting revenue tracking began in August 2018:
- Handle: $85,466,645.34
- Revenue: $8,465,330.43
- Taxes: $846,533.15
The week of March 2 was a good one for sports wagering in the Mountain State. Despite the slight drop in the overall handle, the sportsbooks still had a solid showing.
The total handle of $3,797,635.12 was an eight percent decrease from a week ago but still ranked in the top ten highest weekly handle totals.
On the other hand, sportsbooks had a monster week in regards to revenue. The profit of $743,878.57 was a 236 percent increase from the previous week, the second highest weekly revenue reported to date.
WV sports betting revenue for the week ending March 2, 2016
|Casino||Handle||Mobile Sports Betting Revenue||Retail Sports Betting Revenue||Total Revenue||Taxes (10%)|
|Mardi Gras Casino||$942,774.99||$70,359.29||$80,800.30||$151,159.59||$15,115.96|
|Wheeling Island Hotel||$606,453.80||$70,362.47||$39,359.01||$109,721.48||$10,972.15|
A Closer Look At WV Sports Betting Handle
The rankings for handle are starting to look very similar. Again, Hollywood Casino leads with the Mardi Gras Casino finishing in second.
Even though Hollywood has had firm control in the category, this is the first time it’s seen its handle increase in a month. Mardi Gras had a good week as well but failed to top the $1 million mark after reaching it two of the last three weeks.
Wheeling Island stayed consistent again finishing in third. The sportsbook’s handle has only varied by a few thousand dollars over the last three weeks.
After a great showing the prior week, the Mountaineer Casino came back down to earth with just under $500,000 in handle.
Here’s how the WV sportsbooks rank for the weekly handle:
- Hollywood Casino ($1,714,411.05)
- Mardi Gras Casino ($942,774.99)
- Wheeling Island ($606,453.83)
- Mountaineer Casino ($487,651.75)
- The Greenbrier ($46,343.50)
A Closer Look At WV Sports Betting Revenue
As mentioned, WV sportsbooks had an incredible week in terms of revenue. After a tough stretch that ended last week, revenue numbers soared and topped $700,000 for just the third time in more than six months.
It also turned out to be a group effort. Although figures obviously vary, every sportsbook in WV ended the week in the black, contributing to the impressive showing.
The leader once again is the Hollywood Casino. It had its best week for revenue in a month with almost $400,000.
Mardi Gras and Wheeling Island had quality performances, too. Mardi Gras actually had its best week ever, while Wheeling Island posted its best week in a month.
A large portion of both of their success was generated by the BetLucky mobile app, adding about $70,000 to each casino. This was the online sportsbook’s biggest week by 14 percent.
Of course, this week’s report is now bittersweet, as both land-based sportsbooks along with the only online platform in the state are now suspended until further notice.
The big week for WV comes at an odd time of the year because there isn’t too much going on in the sports world. Football is limited to the AAF and basketball and hockey seasons have yet to reach the playoffs.
One reason for the spike in revenue is a large number of futures bets for upcoming events. With both the MLB season about to start and the March Madness tournament around the corner, bettors could be putting down their funds on futures before they both start.
Another possible cause for the spike could be from a number of new bettors just getting their feet wet in the gambling world.
With the mobile book having its best week so far, it’s quite possible a large number of residents just started placing bets. Perhaps the freezing cold winter and awful storms are keeping folks inside with not much else to do besides gamble on sports.
Here’s how the WV sportsbooks rank for weekly revenue:
- Hollywood Casino ($367,053.10)
- Mardi Gras Casino ($151,159.59)
- Wheeling Island ($109,721.48)
- Mountaineer Casino ($101,641.15)
- The Greenbrier ($14,303.25)
Closing In On March Madness
March Madness is upon us. Conference tournaments are fully underway and Selection Sunday is now just a few days away. Bettors still have time to place a futures bet before the field of 68 teams is set.
Online sportsbooks in New Jersey are showing Duke, Gonzaga, and Virginia as the favorites to take home the title.
MLB Opening Day
The start of the baseball season is quickly approaching as well. MLB’s Opening Day is March 28.
NJ sportsbooks have the defending champion Boston Red Sox among the favorites to win the World Series along with the New York Yankees and Houston Astros.