Sports Betting Handle Takes A Dive With Sports On Hiatus And WV Casinos Closed

Posted on April 29, 2020

Unsurprisingly, West Virginia sportsbooks have seen a significant drop in wagers over the last four weeks. After generating over $4.6 million in bets the week of March 14, sportsbooks have not reached $1 million in weekly handle since.

With every retail casino in the Mountain State still closed and sporting events on hiatus, online sports betting apps are the only source of betting action and obscure sports is what is available.

Unfortunately, though, casual sports fans don’t have much of an interest in the sports being offered.

With that said, online sportsbooks are doing a great job providing what is available. Belarusian soccer, as well as Moscow table tennis, are among the active markets often offered. The most popular event by far was last weekend’s NFL Draft.

For the week of April 18, sportsbooks accepted under $475,000 in wagers. Overall handle has not exceeded $500,000 during the current month.

While revenue figures are also quite low, they have stayed positive for the last four weeks. In total, sportsbooks earned just over $150,000.

Even as some states begin to lift restrictions, there is no certainty when WV casinos will reopen or when sporting events will be back on the schedule.

It’s possible some sports come back to some capacity sooner than people going back to offices at more regular jobs.

Although this wouldn’t help everyone, it would absolutely benefit sportsbooks everywhere.

WV Sports Betting Handle

The four weeks included in this report are from March 28 – April 18. Each of those weeks’ figures consists of strictly online wagering.

After taking in more than $875,000 in handle for the week of March 21, numbers have continued to decrease. Total handle over the last four weeks was $2,090,566.37.

Sportsbooks accepted over $725,000 during the first week, but haven’t been anywhere close to that this month. This most recent week is their best in April, seeing $472,294.74 in handle.

Since retail books are closed, bets are only coming in through one of the three online apps:

Of course, there isn’t a lot of betting right now, but any type of revenue flow is better than none. With sportsbooks in WV still shut down, only two of the five casinos in WV with online sportsbooks are accepting bets.

They include Hollywood Casino and The Greenbrier.

Even though Hollywood features just one online platform, DraftKings, it outperformed The Greenbrier.

DraftKings took over $1.7 million in bets during the four-week span. The combination of FanDuel and BetMGM only accounted for around $350,000.

Hollywood and DraftKings are typically at the top of the rankings, but this margin of difference is noteworthy.

DraftKings’ worst showing came on April 11, when its handle was just shy of $300,000. Its sportsbook accepted at least $340,000 in every other week.

The Greenbrier started with two straight weeks below $50,000 in handle, but has improved to about $130,000 in each of the last two.

For whatever reason, DraftKings seems to be gathering more interest than the state’s other mobile options.

As mentioned, there isn’t much on the sports schedule to be excited about, though, the NFL Draft from this past weekend could supply a boost to betting figures.

2020 WV sports betting handle

WV Sports Betting Revenue

WV sports betting revenue figures during the last four weeks were not impressive, either. Sportsbooks earned just $152,256.40 during that time.

They somehow managed to turn a profit every week, but that might be the only bright point. Revenue totaled only $12,800 for the last week of March but has significantly grown since then.

Books generated over $48,000 a week ago and nearly $52,000 for the week prior. That makes the 10th consecutive week that online sportsbooks have been in the black in terms of revenue.

Generating positive revenue is always a good thing, but sportsbooks were doing much better than this. Before sports stopped, books were making at least six figures consistently.

Similar to the handle breakdown, Hollywood Casino earned a lot more profit than The Greenbrier. Despite featuring only one mobile betting app, Hollywood and DraftKings made over $110,000 in revenue in the last four weeks.

The Greenbrier along with FanDuel and BetMGM generated only a little bit more than $40,000.

DraftKings Sportsbook started slow, but has been earning more week-to-week. It made just $8,200 for the last week of March, but has increased its revenue in each report. DraftKings took in over $43,000 this past week.

The Greenbrier and its mobile apps are more inconsistent. After making more than $30,000 for the first two weeks of April, they earned around $5,600 this previous week.

Even though there aren’t many sports available to wager on, DraftKings has dominated this first month without regular action. FanDuel and BetMGM need to make some adjustments moving forward to increase both their handle and revenue.

2020 WV sports betting revenue

On The Board At WV Sportsbooks

Now that the NFL Draft is behind us, NFL betting begins in earnest with a host of futures available. In addition to futures, online sportsbooks have found some bizarre options to keep your interest. Among the weirder choices is table tennis.

In the Moscow table tennis league, three tight matchups will take place on Wednesday. DraftKings lists the following odds:

  • Vitaly Bazilevsky -118
  • Viktor Stanislavovich Ivanov -118

 

  • Andrey Sadkov -200
  • Dmitry Evgenievich Basmanov +140

 

  • Anatoly Trushkin +110
  • Andrey Ovchinnikov -155
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Chris Imperiale

Chris Imperiale covers sports betting and the online casino industries. He has a journalism degree from Rutgers University and was formerly on staff at Bleacher Report.

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