The Mountain State’s sports betting market saw plenty of action during the month of October. West Virginia sportsbooks accepted more than $61 million in total handle.
This was the second consecutive month that was impressive after several sluggish ones. Of course, the return of college football and NFL betting in WV helped bring the industry some life.
After the handle reached $45 million in September, October beat that by almost $17 million.
WV sportsbooks saw at least $14 million in wagers every week overall, with the best showing hitting almost $17 million.
Weekly handle has now exceeded eight figures in eight consecutive weeks.
WV online sports betting apps accounted for nearly $48 million of the monthly figure. This represents about 77% of the total.
They also went beyond eight figures in each week of October and have now done so six straight times. Online platforms had their best showing the week of Oct. 23, when they surpassed $13.4 million in bets.
Surprisingly, the increase in handle didn’t equate to more revenue. WV sportsbooks generated just shy of $2.7 million last month compared to over $6 million in September.
Some of that month’s “revenue” can be attributed to futures bets for football, though. These bets appear as profits initially before the season but could turn into payouts down the road.
WV Sports Betting Handle, October 2021
The significant increase in handle was a 35% difference from September’s betting figures.
The Greenbrier led all others for the month after falling behind Hollywood Casino last time around.
They saw at least $5.8 million during each week, reaching nearly $8.2 million for the week of Oct. 23.
The two online sportsbooks took in about $16 million of the overall figure.
Hollywood’s options were consistently behind The Greenbrier’s combination. They topped $4 million in weekly handle only twice, with their best showing around $4.3 million.
It’s clear that the return of football impacted the amount of online wagers. The Greenbrier’s apps rose by around $11 million, while Hollywood’s increased by over $8 million.
Since PointsBet didn’t release in the state until August, it makes sense that it might not see the same levels of action yet. Once it does, Hollywood’s online platforms should match those available from the resort.
Mountaineer finished third with about $6.3 million in October handle. Its online app, Caesars Sportsbook WV, saw a good portion of that, with almost $2.9 million.
This is an increase of around $900,000 for the online book when looking at the previous month.
Mardi Gras doubled its sister property at Wheeling Island. Its handle hit around $2.1 million, whereas Wheeling was closer to $1 million.
The difference between their mobile app’s production was noticeable, too. Their Betly Sportsbook totaled around $725,000 for Mardi Gras and just $110,000 for Wheeling.
WV Sports Betting Revenue, October 2021
As mentioned, revenue dropped 56% from the month prior. This shouldn’t be a concern for sportsbooks unless it becomes a reoccurring trend.
Considering that the state’s revenue fell short of $2 million in August, the almost $2.7 million in October is impressive.
The weekly breakdown was odd, however, as two weeks were very profitable and two others much less so.
The first and last weeks of the month each brought in more than $1 million in earnings, while the middle weeks were at about $385,000 altogether.
Online sportsbooks created over $1.6 million of the profits.
Despite not taking the most bets for the month, Hollywood Casino earned the most revenue again. It beat out The Greenbrier with more than $1.3 million.
DraftKings and PointsBet saw around $845,000 over the four-week period. They basically exceeded $400,000 twice but actually had one week conclude in the red.
The Greenbrier placed second in October with about $815,000 in revenue. Its two apps brought home slightly over $675,000.
FanDuel and BetMGM’s best performance came to open the month, when they made almost $335,000.
Mountaineer came in third, but it didn’t have a great October. Its revenue was cut by more than half and only approached $270,000.
Its Caesars app generated around $65,000, even while losing close to $40,000 for the week of Oct. 23.
Mardi Gras beat out Wheeling Island in terms of revenue as well, but only by a slim margin. It earned $122,000, compared to $112,000 at Wheeling.
Mardi Gras also came out victorious with online revenue. It reached about $25,000, while Wheeling was close to $7,000 in the negative.