It was an up and down week for sports betting in West Virginia. While the overall betting handle didn’t grow for the first time in a while, the Mountain State still had a solid showing for the week of Sept. 28.
Although the total handle was about $100,000 short of last week’s state best, the $6.5 million in wagers is still very respectable. This is the fourth-straight week that handle has exceeded $6 million.
Revenue figures were strong as well. In total, WV sportsbooks earned over $800,000, with more than $300,000 coming in from mobile sports betting apps.
It has been an incredible debut in WV for both DraftKings and FanDuel sportsbooks. Together, they have revitalized the WV market and this week they made more money than ever in their five-week existence.
Along with more betting action, the online sportsbooks are helping solidify a consistent revenue stream. This is now 11 weeks in a row that books have earned a profit.
The high volume of wagers should continue through October as betting on college football and the NFL continues to dominate the news.
WVU Mountaineers are looking to get back in the win column this week with another home game in Morgantown. After losing to Texas on Saturday, the WVU football will need to pull an upset this week against Iowa State in order to remain above .500.
Marshall football is back on the field, too. The Thundering Herd have dropped to 2-3 with two straight losses. They’ll take on Old Dominion at home this weekend.
This week’s report includes activity from Sept. 22-28 from these WV sportsbooks:
- Hollywood Casino Sportsbook and DraftKings Sportsbook
- The Greenbrier and FanDuel Sportsbook
- Mountaineer Sportsbook
WV sports betting revenue highlights
Here are the key takeaways from the Sept. 28 revenue report:
- Online revenue continues to grow
- Betting handle stagnant for the first time since online sports betting returned
- WVU football has a big impact on handle
Even from the state’s small sample size, it’s clear that online sportsbooks are here to stay and driving the market. WV mobile sports betting apps have had a substantial impact on both handle and revenue.
This week, DraftKings and FanDuel pulled in over $300,000, about $35,000 more than their previous high. Online sportsbooks accounted for around 38% of the state’s total revenue this week, up 4% from the week before.
This might not seem like too significant of a number, but online betting is still very new in WV. Over the last few weeks, this percentage has grown slightly and should continue to going forward.
While the New Jersey betting market has a lot more options than WV right now, it often gets around 80% of its revenue from online sportsbooks. It might be some time before WV reaches that sort of split, but expect mobile betting to keep increasing.
Though revenue hasn’t stopped expanding, the handle didn’t grow for the first time in over a month. This isn’t overwhelmingly concerning considering where the market was two months ago and the fact that there were still $6.5 million in bets placed.
What could be the driving factor for this blip is that WVU didn’t have a game for the week of Sept. 28. Although it’s unclear exactly what percentage of bets land on the Mountaineers’ games, it would be safe to say a good portion.
Perhaps knowing that there were no wagers placed on the WVU game means that this week’s handle is actually very impressive. We’ll have a much better understanding of this once we see next week’s figures that include the bets from the Texas game.
WV Sports Betting Summary
- Handle: $172,119,681.96
- Revenue: $17,921,583.27
- Taxes: $1,792,158.46
It was a fairly busy week for sports bets in WV. Although betting handle reduced by 2%, the state still accepted $6,511,986.39 in wagers.
Revenue figures did even better. Sportsbooks generated $810,050.70, a 44% increase from the week prior.
WV sports betting revenue for the week ending Sept. 28, 2019
|Casino||Handle||Mobile Sports Betting Revenue||Retail Sports Betting Revenue||Total Revenue||Taxes (10%)|
|Mardi Gras Casino||N/A||N/A||-$195.25||-$195.25||-$19.53|
|Wheeling Island Hotel||N/A||N/A||-$84.00||-$84.00||-$8.40|
A Closer Look At WV Sports Betting Handle
Even though WV retail and online sportsbooks couldn’t match their handle from the previous week, they still were very productive. In spite of WVU not playing, Hollywood Casino set another new best in regards to handle, adding around $60,000 more this week.
Hollywood’s handle has now reached the $4.3 million mark for the fourth consecutive time.
The Greenbrier finished in second as the only other to accept over $1 million in bets. Although this is still considered a good week, The Greenbrier’s handle was around $100,000 shy of its last two weeks.
Mountaineer Casino came in third mostly because it still doesn’t have ties to an online sportsbook. The more than $880,000 it accepted is a quality showing, but almost $65,000 less than a week ago.
Here’s how the WV sportsbooks rank for weekly handle:
- Hollywood Casino ($4,579,494.85)
- The Greenbrier ($1,051,987.24)
- Mountaineer Casino ($880,504.30)
- Mardi Gras Casino ($0)
- Wheeling Island ($0)
A Closer Look At WV Sports Betting Revenue
Revenue figures remain strong in WV. The last time sportsbooks didn’t make money was the week of July 13. Since then, revenue was greater than six figures every week except one.
As always, Hollywood Casino led the way, this time with more than $600,000. This is the most its sportsbook has made in three weeks, when it earned over $1.2 million.
Of the $600,000, around $200,000 worth came from Hollywood’s online sportsbook, DraftKings.
The Greenbrier finished in a distant second, pulling in more than $100,000. This is now the fourth straight week it’s generated six figures.
Amazingly, The Greenbrier’s FanDuel online sportsbook was responsible for over $99,000, or 92% of its total revenue.
Mountaineer didn’t do poorly, making close to $100,000, too. Its sportsbook has continued to do well even without a mobile betting app.
Although neither is open for business, both Wheeling Island and Mardi Gras Casino paid out around a combined $300 in settled bets.
Here’s how the WV sportsbooks rank for weekly revenue:
- Hollywood Casino ($604,632.36)
- The Greenbrier ($108,561.69)
- Mountaineer Casino ($97,135.90)
- Wheeling Island (-$84.00)
- Mardi Gras Casino (-$195.25)
On the board for WV Sportsbooks
Both WVU and Marshall are playing this weekend in what should be an eventful slate of college football. The Mountaineers are coming off a loss to Texas, while the Herd suffered defeat against Middle Tennessee.
WVU will stay at home and battle with Iowa State this week. Marshall returns to Huntington to play Old Dominion.
Here are both teams’ odds for this Saturday according to DraftKings and FanDuel online sportsbooks:
|WVU vs. Iowa State|
|DraftKings Sportsbook||WVU +10.5||53.5||WVU +300
|FanDuel Sportsbook||WVU +10.5||53.5||WVU +300
|Marshall vs. Old Dominion|
|DraftKings||Marshall -15.5||47||Marshall -835
|FanDuel||Marshall -15.5||47||Marshall -740
NFL Week 6
The NFL season is moving right along as well, with Thursday’s game kicking off Week 6. Here are the local teams’ odds according to DraftKings and FanDuel:
|CLE vs SEA|
|DraftKings Sportsbook||CLE +2||47||CLE +110
|FanDuel Sportsbook||CLE +1.5||47||CLE +106
|PIT vs LA|
|DraftKings||PIT +6.5||41||PIT +250
|FanDuel||PIT +7||41.5||PIT +245
|WAS vs MIA|
|DraftKings||WAS -3.5||41.5||WAS -177
|FanDuel||WAS -3.5||41||WAS -176
|CIN vs BAL|
|DraftKings||CIN +11||47.5||CIN +425
|FanDuel||CIN +12||47.5||CIN +430