Some of the West Virginia retail sportsbooks have started to reopen along with the casinos in the state. Unfortunately, the betting handle for the first two weeks back in the Mountain State was less than desirable.
Overall, retail sportsbooks accepted just $46,757.80 over the course of the two weeks. That figure equates to just 2% of the overall handle of $2,615,916.48 for the same period.
This revenue report includes the retail sports wagering from the weeks ending on June 6 and June 13.
Land-based sportsbooks had not taken any bets since the week of March 21.
Of course, with casinos only allowing in 50% of their possible capacity, betting figures were expected to be lower.
There’s also the matter of how many betting markets are currently available at sportsbooks. While some popular sports and leagues have returned, many of the major American markets are still working their way back.
Both the NHL and NBA are scheduled for late July restarts. They each have completed the majority of their seasons and have new playoff formats in place to crown a champion.
Major League Baseball is also on its way back.
The league and its players actually never came to a new agreement regarding pay structure. Instead, Commissioner Rob Manfred was able to implement a 60-game season based on the March 26 agreement made with the MLB Players Association.
This news is encouraging for the WV sports betting crowd.
As far as revenue is concerned, books made a profit, but just barely. Over the two-week span, they generated around just $1,800.
After making nearly $17,000 in the first week back, sportsbooks actually lost almost $15,000 the week of June 13.
Even though retail locations are easing their way back, the online sports betting apps continue to carry the load. They’ve accepted over $1 million in bets in each of the last seven weeks.
WV sports betting revenue for the week ending June 6, 2020
WV sports betting revenue for the week ending June 13, 2020
WV Retail Sports Betting Handle
Overall betting handle figures were not impressive for the first two weeks at retail sportsbooks.
They took in $24,462.80 in the opening week and $22,295.00 in the second. In the last full week prior to the sports shutdown, retail books saw over $2.7 million in handle.
Several key factors have significantly slowed down the betting production in the state.
Besides casinos only being able to allow in 50% of their regular capacity for guests, a lot of retail sportsbooks didn’t even open immediately. In fact, several sports betting operations still haven’t opened their doors.
So far, only these three sportsbooks have begun taking wagers again:
The sportsbooks at Wheeling Island as well as the Mardi Gras Casino have yet to reopen.
With only three locations available and a limited amount of guests, it makes sense that betting figures are so low.
Mountaineer led the way for open books with over $31,000 in handle for the two weeks.
The Greenbrier finished in second with more than $14,000 in wagers.
Hollywood came in last with only $986 in handle. Its sportsbook wasn’t open originally; however, the casino’s website states it is now open daily from noon to 8 pm.
Although this first report back isn’t a great result for retail sportsbooks, it is a start. A lot of people are still probably very concerned about the possibility of catching COVID-19.
While there are no online casino alternatives in the state, sports bettors don’t necessarily need retail books in order to wager. They can use any of the three mobile platforms offered. These include:
Once the casinos are back to operating as they normally would, perhaps more people will feel safe enjoying a night at the sportsbook.
WV Sportsbook Revenue
Retail betting didn’t generate much revenue over the two weeks, either. Obviously it’s tough to earn a lot of money when sportsbooks lost $14,932.40 in the most recent week.
Beyond bettors having a successful week, it’s possible that sportsbooks could be refunding wagers still.
Bets that involved the NCAA’s March Madness tournament or futures for division winners in the NBA or NHL would fit. Most of these bets would be voided by books, thus resulting in a loss.
Both sportsbooks that reported revenue for the week of June 13 were in the red.
Mountaineer lost nearly $10,000, whereas The Greenbrier was down over $5,100.
In total, The Greenbrier led all other retail books with around $2,400 in earnings. Hollywood Sportsbook was the only other to make a profit, at $965.
Mountaineer ended up losing more than $1,600 for the two-week period.
Although these figures aren’t promising, the $16,699.60 for June 6 is the first time retail books recorded a positive week in quite a while. The last time sportsbooks earned a profit was the week of March 7.
These are certainly difficult times for retail betting, but help is on the way.
If WV continues to have a low amount of new coronavirus cases, the state can keep opening up. This would mean more people allowed at WV casinos, as well as retail sportsbooks in the near future.
There’s also plenty of assistance coming from the betting markets soon to come back.
While sports fans had to endure a few months with basically no options, the end of July is loaded.
The NBA, NHL, and MLB will all be back on the playing field. Then a month later, college football betting is set to return, with the NFL to follow shortly after.
On The Board At WV Sportsbooks
Even though baseball will only consist of 60 games this season, a World Series Champion will be crowned this October.
If you’re unable to make it to one of the open retail sportsbooks, you can always wager through the online apps.
Currently, DraftKings features the following odds on which team will take home the 2020 World Series:
- Los Angeles Dodgers +375
- New York Yankees +400
- Houston Astros +650
- Atlanta Braves +1300
- Minnesota Twins +1600
- Tampa Bay Rays +1800
- Washington Nationals +1800
- Philadelphia Phillies +2000
- Louis Cardinals +2000
- Chicago Cubs +2200
- Cleveland Indians +2200
- New York Mets +2200