Jackpot: WV Online Casino Betting Grabs Over $37 Million In Bets During First Weeks
Online casino betting debuted in the Mountain State with a bang.
DraftKings Casino WV accepted over $37 million in bets during its first four weeks online.
West Virginia’s first-ever online casino went live in July under a partnership with Hollywood Casino.
After reporting on the mobile platform’s impressive first two weeks, DraftKings rounded out its first “month” with a quality finish.
The online casino betting figures in this report are from the week ending July 18 through the week of Aug. 8.
In the final two weeks, DraftKings Casino accepted nearly $21 million in wagers. Its best showing was its third week when the online casino saw more than $12 million in the overall handle.
Unfortunately, it couldn’t follow up this performance with an increase in the fourth week. Betting actually declined fairly significantly, down to about $8.6 million.
This final week began on Aug. 1, the same date the NHL playoffs started. The NBA was also just into its third day of games since its restart.
The addition of these two very popular markets boosted betting figures at WV sportsbooks. Both retail locations, as well as online sports betting apps, set new highs for handle since the sports shutdown.
While these sports returning was crucial for sportsbooks, it seemed to have negatively affected the online casino wagers.
Still, DraftKings Casino had a great opening month. The online casino earned over $800,000 during its first four weeks on the market.
What’s more impressive is that these profits grew from week to week. DraftKings set a new record for online casino revenue on Aug. 8, exceeding $270,000.
Let’s take a deeper look at the online casino betting figures in WV and see where the sports calendar may cause conflicts going forward.
WV online casino betting
It was a noteworthy first four weeks for online casino gaming in the state.
After starting off with almost $7 million in handle the first week, strong betting continued throughout the remainder of the month.
Handle increased 36% to more than $9.4 million, then jumped up another 29% for week three. That’s when DraftKings saw $12,162,080.15 in casino bets, the current record for a week in the state.
Although the dip in the fourth week is discouraging, it’s completely justifiable.
Beyond there being popular betting markets at sportsbooks, it was the first time that these specific sports were offered in a long time. With sports stopping due to COVID-19, both the NBA and NHL seasons were postponed in mid-March.
Fans and bettors haven’t had the chance to watch or gamble on these games for over four months. It makes sense that online casino figures took a hit for the week with hockey and basketball back in the rotation.
Not to mention, both leagues entered the climax of their seasons. These restarts have gotten underway with playoff series and games with postseason implications.
We’ll have to see moving ahead how major sporting events like these impact the betting at online casinos.
Regardless, it was a promising start in WV.
The $37 million in handle is in an entirely different ballpark when comparing it to the beginning weeks of online sportsbooks.
Mobile sports wagering brought in close to $7.5 million in its first four weeks of availability. As a whole, active sportsbooks in the state accepted fewer than $24 million during that span.
It’s clear that there is a market for online casino gambling in WV. There’s no reason why betting figures shouldn’t continue to rise, especially when additional operators launch in the Mountain State.
WV online casino revenue
DraftKings Casino also earned a decent amount of money during its first four weeks. The almost $825,000 in revenue was an exciting start that brings a lot of optimism.
Since the state’s retail sportsbooks and casinos were forced to close because of the coronavirus, WV is in need of betting revenue.
The most important sign for DraftKings Casino is that revenue increased every week. Even when its handle fell for the week of Aug. 8, the online casino had its best week for making money.
In the latest two weeks, earnings rose from around $207,000 to just over $270,000. This is an increase of more than 30%.
If the online casino can duplicate this boost in production again, DraftKings will pull in about $355,000 this week.
A higher betting handle would certainly help the operator hit that figure. Now that sports are back in full capacity, perhaps the online casino will see a more consistent increase in wagers going forward.
Notable sporting events at WV sportsbooks
While not all casino gamblers bet on sports, there is some overlap. A lot of people who like to bet on roulette and blackjack also enjoy wagering on basketball and football games.
This would help explain the decline in online casino betting in its third week when the NHL and NBA returned.
With sports completely back now, maybe there won’t be any more drastic surges at sportsbooks that detract from casino gaming. Since these leagues were suspended for so long, it makes sense that a lot of bettors hopped on the first few games.
It’s also possible that this is just a sign of things to come.
Both the basketball and hockey playoffs have several more rounds to complete before crowning champions. MLB’s shortened season is reaching the halfway point, as well.
This leaves plenty of sports to bet on for the next couple of months.
The Mountaineers and NFL betting are sure to have the attention of a lot of bettors in the state.
There’s little doubt that online casinos will continue to have success in WV. However, weekly results will probably vary for the first few months because of the crazy sports schedule that now offers lots of amazing markets.