WV Online Sports Betting Earns More Than Retail For The First Time Since Its Return
The West Virginia sports betting market came back down to earth for the week of Oct. 19. After setting a new state record for overall betting handle a week ago, WV sportsbooks saw betting action reduce by about $1 million.
It’s becoming more evident that bettors in the state prefer mobile betting as we watch mobile handle grow week after week. Both DraftKings and FanDuel have impacted their affiliates substantially in their short existence, outpacing the earnings of their retail partners.
Even though Mountaineer Casino doesn’t have an online sportsbook, it is having great success; some might even say surprising success.
This weekend should continue to keep figures high as there are plenty of sports to bet on. WVU football, as well as Marshall, have essential conference games, while the NHL and NBA seasons are now fully underway.
This week’s report includes activity from Oct. 13-19 from these WV sportsbooks:
- Hollywood Casino Sportsbook and DraftKings Sportsbook WV
- The Greenbrier and FanDuel Sportsbook
- Mountaineer Sportsbook
WV sports betting revenue highlights
The following are the key takeaways from the Oct. 19 figures:
- Online sportsbooks surpass retail books in revenue
- WVU football could be the reason for a slow week
- Marshall football helps limit revenue
It was an exciting week of sports gambling in WV. For the first time since West Virginia online sportsbooks have re-emerged, mobile betting earned more revenue than retail locations.
The online sportsbooks of DraftKings and FanDuel pulled in more than $360,000 for the week, whereas retail books made around $215,000.
Although things were trending in this direction, this week is an aberration. Online sportsbooks made nearly $100,000 more two weeks ago, and that was still just about half of what retail books made.
Another key takeaway from this week’s report is the drop off in total handle. Of course, the $6.7 million in bets is a solid mark, but it was a significant decrease from the previous week.
One driving factor for a lower handle could be WVU’s matchup at Oklahoma during the week of the 19th. WVU was a big underdog, and they came off a week where they failed to cover the spread. It would make sense that a lot of WVU backers stayed away from this one.
Along with a smaller handle, sportsbooks saw a sizable fall in revenue production. The outcome of Marshall’s football game against Florida Atlantic could have a massive role in that.
Marshall entered the game as four-point underdogs on the road. Not only did the Thundering Herd cover the spread, but they won the game outright, 36-31.
This means that everyone who bet on Marshall had a winning ticket, including those who were confident enough to take the team’s moneyline. With odds around +170, it’s possible that sportsbooks lost a decent chunk of change with Marshall’s win.
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: $193,241,665.09
- Revenue: $21,127,215.95
- Taxes: $2,112,721.73
Even though sportsbooks had a decent performance, figures were down for the week. Overall betting handle dropped to $6,755,662.56, a 13% decrease from a week ago.
Revenue figures struggled even more. Sportsbooks earned just $578,497.35, a 57% reduction from last week.
A Closer Look At WV Sports Betting Handle
Despite the betting handle not matching its showing from the week prior, sportsbooks did well for the week. They accepted almost $6.8 million in wagers in their second-best week ever.
Hollywood Casino remains at the top with over $4.2 million. Although it was a disappointing result compared to last week, this marks the seventh straight week that Hollywood has recorded at least $4.2 million in bets.
Hollywood’s online sportsbook, DraftKings, saw a reduction from last week as well, but still managed its second-best showing in WV. The online book took in over $1.7 million in handle.
The Greenbrier held onto second place with another great week. Its sportsbook exceeded $1.5 million in handle, beating its previous best by more than $225,000.
Similar to Hollywood, The Greenbrier’s online platform is taking more bets every week. FanDuel Sportsbook posted a handle of over $1.3 million, its new high.
Even though the Mountaineer Casino still doesn’t have a mobile betting app, it still has solid weeks in terms of handle. Its sportsbook nearly had $1 million in wagers for the second time but fell just short.
Here’s how the WV sportsbooks rank for weekly handle:
- Hollywood Casino ($4,249,238.56)
- The Greenbrier ($1,521,660.85)
- Mountaineer Casino ($984,763.15)
- Mardi Gras Casino ($0)
- Wheeling Island ($0)
A Closer Look At WV Sports Betting Revenue
Hollywood Casino also led in revenue, earning almost $270,000 for the week. This was a bad performance compared to the last two weeks when its sportsbook made over $1 million.
This is Hollywood’s worst week of revenue in two months.
On the positive side, its DraftKings Sportsbook made more than $225,000, while its retail location only generated around $40,000. This marks the fourth straight week that DraftKings has earned over $200,000.
The Greenbrier bounced back after a sub-par week by making around $160,000. Like Hollywood, its online platform earned the majority of the money this week.
FanDuel made over $135,000, and The Greenbrier’s land-based sportsbook only earned around $23,000.
Mountaineer finished in third with just under $150,000. Even without an online sportsbook, Mountaineer has posted revenue of at least $60,000 for the last nine weeks.
Although Mardi Gras Casino didn’t pay out any bets, Wheeling Island lost around $650.
Here’s how the WV sportsbooks rank for weekly revenue:
- Hollywood Casino ($269,881.93)
- The Greenbrier ($160,231.72)
- Mountaineer Casino ($149,032.80)
- Mardi Gras Casino ($0)
- Wheeling Island (-$649.10)
On the board for WV Sportsbooks
Both WVU and Marshall football are back on the field this week with tough conference games. The Mountaineers are on the road at Baylor, while Marshall will also travel to Texas to play Rice.
Here are both games’ odds provided by the two online sportsbooks in WV, DraftKings and FanDuel:
|WVU vs. Baylor|
|DraftKings||WVU +18.5||56.5||WVU +650
|FanDuel||WVU +18.5||56.5||WVU +660
|Marshall vs. Rice|
|DraftKings||Marshall -11||47||Marshall -455
|FanDuel||Marshall -11||47||Marshall -420
Updated: Oct.31, 2019
NFL Week 9
The NFL continues into its midseason as teams are starting to separate themselves as contenders. Even though most of the local teams have had disappointing seasons, there is still time for the Cleveland Browns and Pittsburgh Steelers to put together a run.
The following are Week 9’s odds according to DraftKings and FanDuel:
|DraftKings Sportsbook||CLE -3.5||39||CLE -200
|FanDuel Sportsbook||CLE -3||39||CLE -184
|PIT vs IND|
|DraftKings||PIT +1||43||PIT -103
|FanDuel||PIT +1||43||PIT -102
|WAS vs BUF|
|DraftKings||WAS +9.5||37||WAS +340
|FanDuel||WAS +9.5||37||WAS +350
Updated: Oct. 31, 2019