West Virginia sports betting generated the third-highest handle figure and a new record-high revenue number for the week.
Last week, we predicted big handle and revenue numbers knowing that Super Bowl activity would be a part of this week’s report.
Not only is it one of the most anticipated sporting events in the country, but it is also the first time legal sports betting took place outside of Nevada.
Well, the numbers did not disappoint.
According to the West Virginia Lottery, bettors wagered $2,833,928 on the big game and that helped set up a record revenue week for WV casinos. Maybe the excitement around sports betting will help people forget what many believe was an extremely boring game.
This week’s report includes activity from Jan. 27 – Feb. 2 for all five WV sportsbooks:
- Hollywood Casino at Charles Town Races
- Mountaineer Casino, Racetrack and Resort
- The Casino Club at The Greenbrier
- Mardi Gras Casino and Resort
- Wheeling Island Hotel
Currently, BetLucky Sportsbook is the only WV mobile sports betting app. It provides online sports betting for Mardi Gras and Wheeling Island casinos. Consequently, its revenue figures are rolled into each of its respective casinos.
Let’s take a closer look at the numbers.
WV sports betting summary
Here are the latest figures for the industry since WV sports betting revenue tracking began in August 2018:
- Handle: $68,857,048.31
- Revenue: $8,294,240.87
- Taxes: $829,424.19
The week of Feb. 2 saw overall handle rise by 16 percent to $4,622,729.73 when compared to the previous week. It is the third-highest weekly handle total in WV sports betting’s short history.
The books posted a record revenue number of $944,065.67. That figure represents a huge 422.4 percent increase week over week, and a 30.1 percent over its previous high set during the week of Dec. 15, 2018.
WV sports betting revenue for the week of Feb. 2:
|Casino||Handle||Mobile Sports Betting Revenue||Retail Sports Betting Revenue||Total Revenue||Taxes (10%)|
|Mardi Gras Casino||$955,292.26||$33,604.01||$61,885.65||$95,489.66||$9,548.97|
|Wheeling Island Hotel||$585,158.40||$47,500.37||$71,735.90||$119,236.27||$11,923.63|
A closer look at WV sports betting handle
Once again, Hollywood Casino leads the charge. Its dominance in the market is hard to ignore.
Mardi Gras Casino, however, is mounting a battle. It is nearing the $1 million mark and is the only sportsbook to set a new handle record this week.
Mardi Gras and Wheeling are the only two casinos with mobile sports betting. Mobile sports betting isn’t quite living up to its full potential just yet. If Mardi Gras can solidify a strong customer base, it stands a chance to become more competitive with Hollywood Casino.
The Greenbrier, on the other hand, posted a record-low handle. The property did open its sportsbook to non-members for the Super Bowl with the purchase of a room. It seems the exclusivity factor of its private casino and its location may not be attractive to sports bettors, and it showed.
Here’s how the WV sportsbooks rank for the weekly handle:
- Hollywood Casino ($2,345,045.81)
- Mardi Gras Casino ($955,292.26)
- Mountaineer Casino ($697,605.49)
- Wheeling Island ($585,158.42)
- The Greenbrier ($39,627.75)
A closer look at WV sports betting revenue
Coming off its record-low revenue numbers last week, WV sportsbooks rebounded into record-high territory.
Interesting enough, mobile sports betting accounted for less than 10 percent of the weekly revenue.
Compared to New Jersey, where mobile sports betting accounted for 70.4 percent of the overall sports betting revenue in December 2018, mobile sports betting in the Mountain State has some work to do. Needless to say, there is a lot of room for growth.
The impending launch of mobile sports betting apps, DraftKings Sportsbook and FanDuel Sportsbook, will likely fuel that growth.
Only two sportsbooks reported record revenue this week: Mountaineer and Wheeling Island. As expected, Mardi Gras and Hollywood Casino also put up impressive figures.
Greenbrier, however, reported a measly $6,450 in revenue. Coming off its largest loss last week, surely, the sportsbook was hoping for a better showing.
Here’s how the WV sportsbooks rank for weekly revenue:
- Hollywood Casino ($507,098.95)
- Mountaineer Casino ($215,790.79)
- Wheeling Island ($119,236.27)
- Mardi Gras Casino ($95,489.66)
- The Greenbrier ($6,450.00)
March Madness is just around the corner
Next week’s report will likely see a drop in handle and revenue as the sports calendar settles down a bit ahead of March Madness.
West Virginia University‘s chances of an invitation to the Big Dance are slim. The Marshall Thundering Herd, however, stand a slightly better chance of punching their dance card but don’t hold your breath.
Selection Sunday is just a month away and the next few weeks are critical.
As of Feb. 12, the BetLucky mobile sports betting app has the following odds on the Men’s NCAA Basketball Championship to win:
- Duke at +200
- Field at +200
- Gonzaga at +600
- Kentucky at +700
- Virginia at +800
- Tennessee at +800
You can review the complete list of odds on the BetLucky app. You do not need to be in West Virginia or have an account to download the app and look at the lines.