Another week, another new record best overall betting handle for the West Virginia sports betting market. A week after the Mountain State set a new high for both total handle and revenue generated, online sports betting helped elevate the industry once again.
Both DraftKings Sportsbook and FanDuel Sportsbook are available in WV and the results are clear. Sports betting is peaking in the state and it is likely to continue to improve.
After topping $6 million in handle in the previous report, WV sportsbooks accepted over $6.4 million in wagers for the week ending Sept. 14.
While the state didn’t earn as much revenue as its record-setting week, books still pulled in more than $700,000. This is now the sixth-straight week that revenue figures have been at least six figures.
This week’s report includes activity from Sept. 8-14 for all five WV sportsbooks:
- Hollywood Casino Sportsbook
- Mountaineer Sportsbook
- The FanDuel Sportsbook at The Greenbrier
It also includes activity for both available WV online sportsbooks:
WV Sports Betting Summary
- Handle: $158,981,870.01
- Revenue: $16,547,880.55
- Taxes: $1,654,788.19
The week of Sept. 14 saw more betting action than ever before in WV. A new best was set for overall betting handle with $6,442,110.84, which was a 7% increase from the week prior.
Revenue figures were strong despite taking a solid step back from last week. The total of $717,813.51 was a 57% decrease from the previous report.
WV sports betting revenue for the week ending Sept. 14, 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
Sportsbooks had their two most productive weeks now that online sports betting is back in West Virginia. The betting handle exceeded $6 million again, this time hitting more than $6.4 million.
Hollywood Casino led the way with over $4.4 million, besting its all-time mark from a week ago. This is the second-consecutive week its sportsbook has hit $4.3 million in wagers.
While it was a great opening week for The Greenbrier and FanDuel Sportsbook, this week was even better. The Greenbrier accumulated more than $1 million in handle for the first time ever.
After accepting around $930,000 in bets last week, The Greenbrier topped $1.1 million. The resort’s land-based sportsbook has been limited because of its exclusivity, however, now that The Greenbrier has an online option in FanDuel, it’s gaining more control of the market share.
Although Mountaineer Casino hasn’t released an online sportsbook yet, it’s still doing quite well during football season. Its sportsbook totaled over $850,000 in handle.
This is now the fifth-straight week Mountaineer’s handle has increased.
Here’s how the WV sportsbooks rank for weekly handle:
- Hollywood Casino ($4,433,372.29)
- The Greenbrier ($1,153,134.50)
- Mountaineer Casino ($855,604.05)
- Mardi Gras Casino ($0)
- Wheeling Island ($0)
Major takeaway: WV Sportsbooks with an online app have major edge
The Greenbrier can attest that having an online sportsbook means just about everything in a state with legal sports gambling. Retail locations at casinos are beneficial and create game-day atmospheres fans can’t get elsewhere, but mobile betting apps are the key.
Even though it’s a little different because The Greenbrier is a private betting facility, the amount its handle has grown since FanDuel’s launch is incredible.
In one week, The Greenbrier surpassed Mountaineer Casino in handle and now in week two, it’s reached the $1 million plateau. It was just a month ago that The Greenbrier’s handle was only around $45,000.
While online betting has invigorated wagering at The Greenbrier, those without an online sportsbook must move quickly before they’re left behind.
A Closer Look At WV Sports Betting Revenue
Even though the betting handle eclipsed its record from last week, the revenue figures were not able to keep up. WV sportsbooks made less than half of what they did the previous week but still managed a successful performance.
Sportsbooks earned more than $715,000, the sixth-straight week revenue has hit triple digits.
Hollywood also led in terms of revenue. Its sportsbook made more than $430,000 this week. It’s the third-consecutive time Hollywood has earned at least that amount.
Around $150,000 of Hollywood’s revenue came from its DraftKings online sportsbook.
The Mountaineer Casino finished second despite not having a mobile app. It made nearly $147,000, about $100,000 less than last week.
The Greenbrier didn’t match its revenue performance from the week prior, either. Its online sportsbook accounted for over $96,000 of its total of $138,000.
This is the second week in a row that The Greenbrier made at least $135,000.
Here’s how the WV sportsbooks rank for weekly revenue:
- Hollywood Casino ($432,626.25)
- Mountaineer Casino ($146,800.65)
- The Greenbrier ($138,386.61)
- Wheeling Island ($0)
- Mardi Gras Casino ($0)
Major takeaway: Football upsets will create more revenue for sportsbooks
Sportsbooks didn’t make nearly as much money as they did last week. What’s so difficult about breaking down the revenue reports is that it’s impossible to tell what bettors are making or losing money from.
Sports betting is a very volatile market, so even when the handle is really high, it doesn’t necessarily mean that revenue is as well.
Of course, gamblers in the state would like to win every week, but that’s just about unattainable. While we’re unable to see what specific games helped bettors, we do know that more gamblers generally take the team who’s considered better or the favorite.
If a major upset were to occur in college football or the NFL, where a sizable favorite somehow loses outright, it could greatly benefit sportsbooks. Naturally, the result of betting on WVU football games could also swing the WV betting market fairly drastically in regards to revenue.
On the board for WV Sportsbooks
As more residents download online sports betting apps to their mobile devices, the betting numbers should continue to rise. Others will be joining DraftKings and FanDuel in the market, too.
The addition of online sportsbooks has been crucial, but so is the fact that college football and NFL betting has returned. Even though sportsbooks love all the action, WV bettors have done great with the WVU Mountaineers games.
WVU won again this week, finishing the month of September with a 3-1 record. Almost more importantly, the Mountaineers covered the point spread this week against Kansas, sending everyone in Morgantown home a happy camper.
WVU football impressed again this past week with a Big 12-road victory. The Mountaineers knocked off the Kansas Jayhawks by five points, extending their winning record to 3-1 on the season.
Unfortunately, WVU will have to re-group before its next matchup against the Texas Longhorns. WVU has a bye this week before hosting Texas on Oct. 5.
Marshall, on the other hand, is coming off its bye and is back on the football field this weekend. The Thundering Herd will battle Cincinnati at home on Saturday.
There are no odds currently listed for the WVU game, however, the following lines for Marshall’s matchup are provided by the two online sportsbooks available in WV:
Marshall vs. Cincinnati
- Marshall +3 (-106)
- Moneyline: +125
- CIN -3 (-125)
- Moneyline: -155
- Marshall +3.5 (-110)
- Moneyline: +150
- CIN -3.5 (-110)
- Moneyline: -180
NFL Week 4
The NFL has another busy slate of games even with teams beginning their bye weeks this Sunday. Local teams to WV haven’t started 2019 out with much success, but the season is still young.
The following are the current Week 4 betting odds according to DraftKings and FanDuel:
DraftKings Sportsbook WV Odds
Cleveland Browns vs. Baltimore Ravens
- CLE +7 (-110)
- Moneyline: +265
- BAL -7 (-110)
- Moneyline: -315
Pittsburgh Steelers vs. Cincinnati Bengals
- PIT -4 (-106)
- Moneyline: -200
- CIN +4 (-115)
- Moneyline: +163
Washington Redskins vs. New York Giants
- WAS +3 (-118)
- Moneyline: +135
- NYG -3 (-104)
- Moneyline: -155