BetLucky And Two WV Sportsbooks Contribute To Massive Drop in Handle
Overall, the sports betting scene in West Virginia had a disappointing week. The closure of Wheeling Island Sportsbook, Mardi Gras Casino Sportsbook, and the BetLucky mobile sports betting app resulted in a decline in betting activity for the week ending on March 9.
The overall betting amount experienced a significant decline, reaching just over $3.1 million in total wagers. This is the lowest it has dropped since early December, right before Wheeling Island and Mardi Gras Casino became operational.
Despite a slight decrease from the previous week, sportsbooks managed to maintain a positive revenue stream, generating over $250,000. It is worth noting that any revenue in the red is not necessarily seen as negative.
Upon closer examination of the revenue, it becomes evident that the primary source of profit was the Hollywood Casino Sportsbook, while the remaining three books concluded the week with losses.
The current week’s report encompasses the activities of all five WV sportsbooks from March 3-9.
- Hollywood Casino Sportsbook
- Mountaineer Sportsbook
- The sportsbook at The Greenbrier is called the FanDuel Sportsbook.
- Mardi Gras Casino Sportsbook
- Wheeling Island Sportsbook
BetLucky Sportsbook provides reports for five days of operation each week, combining its figures with the respective totals of its affiliated casinos.
WV Sports Betting Summary
Since August 2018, the WV Lottery Commission has released the most recent figures regarding WV sports betting revenue tracking.
- Handle: $88,596,456.02
- Revenue: $8,716,835.71
- Taxes: $871,683.67
Despite still finishing in the black, sportsbooks faced a challenging week starting from March 9. The overall handle plummeted to $3,129,810.68, marking an 18 percent decline compared to the previous week. To find a week with a lower handle, one would have to venture back to November.
Despite the positive revenue, it experienced a significant decline. The total revenue amounted to $251,505.28, marking a 66 percent decrease compared to the previous week. This outcome is disappointing considering the anticipation for increased betting due to March Madness and MLB futures.
WV sports betting revenue for the week ending March 9, 2019
A Closer Look At WV Sports Betting Handle
As previously stated, the handle for this report significantly decreased compared to previous weeks. Hollywood Casino once again emerges as the frontrunner, amassing nearly $2 million in revenue. This marks the highest figure it has reached in the past three weeks.
This week, Mountaineer has surpassed both Mardi Gras and Wheeling Island with nearly $600,000, marking a significant shift. While Mountaineer’s handle has grown compared to the previous week, this development holds greater significance for the other two sportsbooks.
Mardi Gras and Wheeling have been temporarily barred from engaging in sports betting for the remaining two days of this reporting period. Their participation in any further activities will remain on hold until their contract dispute is successfully resolved.
The BetLucky Sportsbook has been shut down and the WV Lottery predicts that the suspension will continue for an extended period. We can expect to gain a better understanding of the impact of the suspension in the upcoming weekly report.
This is the ranking of WV sportsbooks based on their weekly handle.
- The Hollywood Casino has a balance of $1,800,502.39. The Mountaineer Casino has a balance of $585,561.15. The Mardi Gras Casino has a balance of $416,002.45. Wheeling Island has a balance of $284,029.19. The Greenbrier has a balance of $43,715.50.
A Closer Look At WV Sports Betting Revenue
Despite overall revenue for the week remaining positive, it was primarily due to the exceptional performance of Hollywood Casino. The sportsbook once again emerged as the top revenue generator, delivering a commendable week with nearly $250,000 in earnings.
The good news pretty much concludes at that point.
Despite still managing to turn a profit, Wheeling Island experienced its least lucrative week in a month. Similarly, Mardi Gras Casino also faced its lowest week in terms of revenue within the past month.
There was a significant decline in revenue for mobile sports betting as well. BetLucky, which will remain closed until further notice or the launch of a new online sportsbook, only generated $44,558.59 in online revenue for its two casinos during its last week of operation.
Compared to last week, there has been a significant decline of 68 percent. The closure of BetLucky will undoubtedly have a noticeable impact on sports betting in WV. We will have a clearer understanding of the situation in the upcoming week.
One of the factors that could be contributing to Hollywood’s dominance in both categories is its favorable proximity to both Baltimore, Maryland, and Washington, D.C.
Bettors from these cities have the convenience of easily crossing the state line to place bets on upcoming tournaments like March Madness futures. The closure of certain locations could potentially benefit Mountaineer. Wheeling Island is situated approximately an hour to the south of the sportsbook.
The weekly revenue rankings for WV sportsbooks are as follows:
- Hollywood Casino ($239,427.24)
- Wheeling Island ($27,007.49)
- Mardi Gras Casino ($-198.00)
- The Greenbrier ($-3,349.25)
- Mountaineer Casino ($-11,382.20)
On the board for WV sportsbooks
March Madness is finally here! Yesterday marked the start of the NCAA Tournament, which means we can anticipate an abundance of bets and stories about unexpected upsets. Don’t forget to place your wagers at one of the three authorized sportsbooks in West Virginia.
After the initial free agency period, NFL teams’ odds to win the upcoming Super Bowl have experienced significant changes. The Cleveland Browns, notably, have become contenders for next season’s championship with the addition of wide receiver Odell Beckham Jr.
According to New Jersey sportsbooks, the Super Bowl favorites are as follows:
- New England Patriots
- Kansas City Chiefs
- New Orleans Saints
- Los Angeles Rams
- Cleveland Browns
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