West Virginia Sports Betting Handle Continues to Fall
For yet another week, West Virginia sports betting faced a challenging period. The latest report reveals that half of the Mountain State’s sportsbooks were suspended, resulting in a decline in betting figures for the week ending on March 16, moving further away from the desired direction.
Following a significant decrease last week, the overall handle in WV has experienced a further decline. This drop has caused the handle to fall below $3 million, marking the first time it has reached this level since November. It is worth noting that these reductions are expected, considering that the only betting app in WV, along with its two land-based affiliates, are currently not accepting wagers.
Despite a slight decline in revenue, it was almost equal to last week’s amount. Encouragingly, the WV sports betting industry has now achieved positive revenue for four consecutive weeks.
The report for this week encompasses the activity of all five WV sportsbooks from March 10 to March 16.
- Hollywood Casino Sportsbook
- Mountaineer Sportsbook
- The Greenbrier is home to the FanDuel Sportsbook.
- Mardi Gras Casino Sportsbook
- Wheeling Island Sportsbook
Even though it is currently suspended, the BetLucky mobile sports betting app remains the sole online sports betting platform in West Virginia.
WV Sports Betting Summary
Since August 2018, the WV Lottery Commission has released the most recent figures on WV sports betting revenue tracking.
- Handle: $91,454,866.29
- Revenue: $8,939,131.47
- Taxes: $893,913.25
During the week of March 16, the WV sports betting market experienced another challenging period as the overall handle plummeted to $2,858,410.27, marking a nine percent decline from the previous week.
Despite revenue ending up in the positive, it experienced a decline. Specifically, the total amount of $222,295.76 represents a 12 percent decrease compared to the previous week.
A Closer Look At WV Sports Betting Handle
Once again, Hollywood Casino has emerged as the winner in the handle category. However, with BetLucky, Mardi Gras, and Wheeling Island out of action, Hollywood Casino has the potential to further increase its numbers in the future.
For the first time in five weeks, the sportsbook accumulated over $2 million in wagers.
Mountaineer Casino had an impressive performance, surpassing the $700,000 milestone for the first time since February.
Although it ranked last among active books, the FanDuel Sportsbook at The Greenbrier had a profitable week by accepting the highest number of bets in the past three weeks.
Without an online option available, it will be challenging for the sports betting market in West Virginia to achieve the same level of success as they did in January. However, Hollywood and Mountaineer should still experience an increase in betting activity since they are the primary betting destinations, especially with the approach of March Madness.
Anticipate a notable increase in next week’s report as a result of March Madness betting. However, if no alterations are made to the current scenario, the revenue reports in WV might become unfavorable thereafter.
These are the rankings of the WV sportsbooks based on their weekly handle:
- The Hollywood Casino has a revenue of $2,088,408.57, while the Mountaineer Casino generates $709,716.20. The Greenbrier earns $60,285.50, whereas the Mardi Gras Casino and Wheeling Island report zero revenue.
A Closer Look At WV Sports Betting Revenue
Despite the fact that the sportsbooks generated additional revenue this week, the primary contributor was the Hollywood Casino. Surprisingly, the book itself earned more profits than the entire state did.
With a revenue of just under $30,000, The Greenbrier stood as the sole sportsbook in profit, marking its highest earnings in the past two months.
Despite their suspension, both Wheeling Island and Mardi Gras were still responsible for paying out winning bets that had already been settled. As a result, each establishment incurred a loss of nearly $10,000 for the week.
Mountaineer faced another challenging week in terms of revenue, suffering losses in its recent two reports. This could possibly be attributed to the cashing of multiple futures bets placed during the NCAA basketball regular season. Additionally, the unexpected underdog status of major conference champions, namely the ACC and Big 12, may have contributed to Mountaineer’s struggles.
These are the rankings of WV sportsbooks based on their weekly revenue.
- Hollywood Casino ($265,118.81)
- The Greenbrier ($28,520.75)
- Mardi Gras Casino ($-7,524.70)
- Wheeling Island ($-9,095.60)
- Mountaineer Casino ($-54,723.50)
On the board for WV Sportsbooks
Sweet 16
The thrilling initial two rounds of March Madness have come to an end, leaving only 16 teams vying for the title of champions. In an effort to attract bettors, three West Virginia casinos are enticing them with special offers on food, drinks, and promotions.
The Sweet 16 games will resume on Thursday evening, paving the way for the Final Four teams to compete in Minneapolis, Minnesota after the weekend.
Sportsbooks in New Jersey are currently reflecting minimal surprises, as the original favorites chosen at the beginning of the tournament remain unchanged. The odds indicate that the top seed from each region possesses the highest likelihood of emerging as the ultimate titleholder.
The fate of Duke, Virginia, Gonzaga, or North Carolina in surviving and advancing once more can only be determined with the passing of time.
MLB Opening Day
Major League Baseball’s Opening Day is also scheduled for Thursday, where all 30 teams will step onto the field for the first time this year. The majority of games will be played during the daytime.
The favorites to end the season with the most home runs, as listed by NJ sportsbooks, are the following players:
- Giancarlo Stanton
- Khris Davis
- Aaron Judge
- Joey Gallo
- Bryce Harper
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