West Virginia Sports Betting Handle Continues to Fall
West Virginia sports betting had another rough week. In the first report with exactly half of the Mountain State’s sportsbooks suspended, the betting figures continue to fall in the wrong direction for the week ending March 16.
The total handle in WV dropped even further after a big decrease last week. It has now dipped under $3 million for the first time since November, a solid month before the three books came online. Of course, these reductions make sense when the only betting app in WV, as well as its two land-based affiliates, are not accepting wagers.
Although revenue also took a slight hit, it was nearly on par with last week’s figure. On a positive note, this is now the fourth consecutive week the WV sports betting industry has generated positive revenue.
This week’s report includes activity from March 10-16 for all five WV sportsbooks:
- Hollywood Casino Sportsbook
- Mountaineer Sportsbook
- The FanDuel Sportsbook at The Greenbrier
- Mardi Gras Casino Sportsbook
- Wheeling Island Sportsbook
Although now suspended, the BetLucky mobile sports betting app is still the only WV online sports betting platform.
WV Sports Betting Summary
- Handle: $91,454,866.29
- Revenue: $8,939,131.47
- Taxes: $893,913.25
The week of March 16 was another difficult one for the WV sports betting market. The overall handle dropped down to $2,858,410.27. This is a nine percent decrease from last week.
Revenue ended up in the positive, however, it fell too. The total of $222,295.76 is a 12 percent decrease from the week prior.
A Closer Look At WV Sports Betting Handle
Hollywood Casino dominated the handle category once again. Now with BetLucky, Mardi Gras and Wheeling Island sidelined, Hollywood may see its numbers continue to climb moving forward.
The sportsbook took in more than $2 million in wagers, the first time it’s done so in five weeks.
Mountaineer Casino also had a good showing. It topped the $700,000 mark for the first time since February.
Despite coming in last among active books, the FanDuel Sportsbook at The Greenbrier had a successful week, as well. It accepted the most bets it’s taken in three weeks.
With no online option, it will be tough for the WV sports betting market to reach the figures they were hitting in January. Hollywood and Mountaineer should continue to see handle climb because they’re pretty much the only game in town, heading into March Madness.
Expect to see a sizable bump in next week’s report due to March Madness betting. After that though, the revenue reports could get ugly in WV if there are no changes to the current situation.
Here’s how the WV sportsbooks rank for the weekly handle:
- Hollywood Casino ($2,088,408.57)
- Mountaineer Casino ($709,716.20)
- The Greenbrier ($60,285.50)
- Mardi Gras Casino ($0)
- Wheeling Island ($0)
A Closer Look At WV Sports Betting Revenue
Even though the sportsbooks generated plus revenue this week, it was only because of the Hollywood Casino. The book actually made more money than the state did as a whole.
The Greenbrier was the only other sportsbook in the black. Although it only took in slightly less than $30,000, it was its highest revenue in two months.
In spite of being suspended, both Wheeling Island and Mardi Gras were still on the hook for winning bets that had settled. Each lost almost $10,000 for the week.
Mountaineer had another rough week in terms of revenue. It’s now lost money in the last two reports. Perhaps several futures bets from the NCAA basketball regular season were cashed. Also, major conference champions, the ACC and Big 12, ended up being unexpected underdogs.
Here’s how the WV sportsbooks rank for 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
The exciting first two rounds of March Madness concluded. The field now consists of just 16 teams looking to be crowned champions. The sportsbooks at three West Virginia casinos are courting bettors with food and drink specials and promotions.
Sweet 16 games start up again on Thursday night. After the weekend is over, the Final Four will be set to play in Minneapolis, Minnesota.
With very few upsets so far, sportsbooks in New Jersey are showing the same favorites that the tournament started with. Each region’s top seed has the best chance to win the title according to the odds.
Only time will tell if Duke, Virginia, Gonzaga or North Carolina will be able to survive and advance yet again.
MLB Opening Day
Also taking place on Thursday is Major League Baseball’s Opening Day. All 30 teams will take the field for the first time in 2019 with the majority of games taking place during the day.
NJ sportsbooks have the following players listed as the favorites to finish the season with the most home runs:
- Giancarlo Stanton
- Khris Davis
- Aaron Judge
- Joey Gallo
- Bryce Harper