Just when it appeared that the overall betting handle might have reached a plateau, the West Virginia sports betting market had its best week ever. After accepting around $6.5 million in handle for the last month, WV sportsbooks took in over $7.7 million in wagers for the week of Oct. 12.
This week’s handle surpassed the previous best by more than $1.1 million.
Since online sports betting apps returned to the Mountain State, the market has taken off. This is the sixth consecutive week that the total handle has reached at least $6 million.
The impact of DraftKings and FanDuel online sportsbooks have been incredible so far. Apparently, there is even still room for the betting industry to grow in WV.
Along with the big handle came a massive payday for sportsbooks as well. They generated over $1.3 million in revenue, the second-highest ever recorded in the state.
This is now two weeks in a row that revenue reached seven digits.
The sports betting action probably won’t slow down anytime soon. Both WVU and Marshall football are in the middle of their conference schedules, while the NHL and NBA seasons are just getting started.
This week’s report includes activity from Oct. 6-12 from these WV sportsbooks:
- Hollywood Casino Sportsbook and DraftKings Sportsbook
- The Greenbrier and FanDuel Sportsbook
- Mountaineer Sportsbook
WV sports betting revenue highlights
The following are the key takeaways from the Oct. 12 figures:
- Overall handle hits a new high mark
- WVU football doesn’t cover again
- Good time for sports betting
The week of Oct. 12 was the busiest in the history of sports betting in WV. With more than $7.7 million in wagers, this week blew past the previous high of around $6.6 million.
Even though the handle didn’t increase too significantly in any of the last four weeks, this week’s rise is especially notable. It’s clear that online sportsbooks have helped the betting market expand to new levels and that growth may not be close to stopping.
As far as revenue is concerned, it seems that WVU’s failure to cover again solidified another big week for sportsbooks. Since the Mountaineers couldn’t stay within 10 points of Iowa State, WVU backers took another loss, thus helping the state’s books.
Unfortunately, WVU football bettors were left disappointed again this week with the loss against Oklahoma. We’ll see if next week’s report bolsters a similarly strong showing for revenue.
While the return of mobile sports betting apps is crucial, the spike in handle this week could be thanks to the calendar. Of course, football remains king, but the MLB playoffs, as well as the start of the NHL season, could be key contributors to the substantial betting handle this week.
With the NBA and college basketball gearing up, too, it’s possible that the WV market can reach new heights going forward.
WV Sports Betting Summary
- Handle: $186,486,002.53
- Revenue: $20,548,718.60
- Taxes: $2,054,872.00
It was an amazing week for sports betting in WV. Overall handle increased 17% and set a record with $7,755,369.87 for the week.
Revenue figures were solid as well. The total of $1,354,194.85 was a 6% jump from the week prior.
WV sports betting revenue for the week ending Oct. 12, 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||-$260.00||-$260.00||-$26.00|
A Closer Look At WV Sports Betting Handle
Hollywood Casino continues to lead all WV sportsbooks in handle. It bounced back from a mild lull to set a new record with over $5 million in wagers this week.
This is the first time Hollywood’s handle has ever exceeded $5 million. Its handle is more than $1 million higher than a week ago.
The Greenbrier finished in second, although it didn’t have the best week. In fact, its sportsbook’s handle reduced slightly from the previous week.
Despite not matching its handle from last week, this is now the second straight time The Greenbrier has hit $1.2 million in handle.
The most impressive week might belong to the Mountaineer Casino. It was able to reach $1 million worth of bets without an online sportsbook.
The retail book has been doing great since football season began and has now set a new best for handle. If Mountaineer launched a mobile app, it would probably contend to be the most active sportsbook in WV.
Here’s how the WV sportsbooks rank for weekly handle:
- Hollywood Casino ($5,373,625.12)
- The Greenbrier ($1,284,620.19)
- Mountaineer Casino ($1,097,124.56)
- Mardi Gras Casino ($0)
- Wheeling Island ($0)
A Closer Look At WV Sports Betting Revenue
The revenue figures look fairly similar to last week. Hollywood Casino leads the way again with almost $1.1 million in revenue.
Although its revenue didn’t increase as much as the total handle, Hollywood had a great week with its online sportsbook. DraftKings earned over $325,000, about $50,000 more than it did a week ago.
Mountaineer Casino rose to second, making around $170,000 this week. While this isn’t the most spectacular performance, it’s Mountaineer’s highest-earning week in over a month.
The Greenbrier didn’t have a quality showing for revenue. It managed just $98,000 a week after posting over $200,000. This is The Greenbrier’s lowest revenue total in six weeks.
Its online partner, FanDuel, brought in its second-lowest revenue figure since the app released. The $80,000 from FanDuel is more than $100,000 less than last week.
Although Mardi Gras Casino didn’t pay out any settled bets, Wheeling Island lost $260.
Here’s how the WV sportsbooks rank for weekly revenue:
- Hollywood Casino ($1,087,837.53)
- Mountaineer Casino ($168,314.61)
- The Greenbrier ($98,302.71)
- Mardi Gras Casino ($0)
- Wheeling Island (-$260.00)
On the board for WV Sportsbooks
WV college football betting odds
The Mountaineers lost a tough game to Iowa State for the week of the 12th. After being tied at the half, WVU didn’t score again and ended up losing 38-14. The margin was more than enough for the Cyclones to cover the spread and send WVU football fans home frustrated again.
This upcoming week might be a bit slower since the WVU Mountaineers have their second bye. Their next game is on Oct. 31 against the undefeated Baylor Bears.
Bettors in the state can still put some money down on Marshall, though. The Herd are slight favorites entering their matchup with Western Kentucky.
Here are Marshall’s odds according to the online sportsbooks in WV, DraftKings and FanDuel:
|WVU - BYE|
|Marshall vs. Western Kentucky|
|DraftKings||Marshall -6||45||Marshall -225
|FanDuel||Marshall -5||45||Marshall -215
NFL Week 8
The NFL season nears the midway point with plenty to be decided still.
The following are this week’s betting odds according to DraftKings and FanDuel:
|CLE vs NE|
|DraftKings Sportsbook||CLE +12.5||46||CLE +450
|FanDuel Sportsbook||CLE +13||45.5||CLE +430
|PIT vs MIA/b>|
|DraftKings||PIT -14||43||PIT -770
|FanDuel||PIT -14.5||43||PIT -700
|WAS vs MIN|
|DraftKings||WAS +16||42||WAS +850
|FanDuel||WAS +16.5||41.5||WAS +800
|CIN vs LA|
|DraftKings||CIN +13||48.5||CIN +500
|FanDuel||CIN +13||48.5||CIN +500