Summary: After offering sports betting for almost two months, sportsbooks in West Virginia have been able to see close to $10 million in wagers.
West Virginia is one of a handful of states in the US that offers sports betting services. The state launched their sports betting industry around two months ago and since that time, have been able to earn around $10 million in wagers. Weekly totals continues to climb as the sports calendar gets even more busy.
Since starting their offering, the state has been able to collect over $200,000 in taxes. The state has estimated that after a year in operation, they will be able to bring in as much as $5.5 million. It does seem like the state will meet this projection as right now, only one operator is functioning in the state during the peak season.
The Hollywood Casino was the first in the state to get started with sports betting. They began hiring individuals to work within their sports betting industry by the end of August and with their location near Washington D.C., the gaming venue is in a prime spot to see visitors for sports betting.
The casino has already seen over $9 million in wagers since starting and they are basically the sole earner for the state. The sports betting tickets have provided $2.3 million in revenues, even though the number does include outstanding future wagers.
Since opening week, the casino has been able to see an increase in their betting handle, week after week. The most recent reporting period came in from October 6th until the 12th with the brand earning over $2 million.
The first week hit just under the $500,000 mark and each week thereafter the brand has hit over $1.1 million and climbing every week after. In total, the brand has earned just over $9 million in handle and seen almost $2.3 million in total revenues.
FanDuel Sportsbook Lower Numbers
The Greenbrier is a location that also offers sports betting via a FanDuel Sportsbook, a spot that opened just a couple weeks after the Hollywood Sportsbook. However, the numbers of the Greenbrier are much lower. The brand was only able to earn just over $87,000 their first week and even less than that their second week at $75,222. Weeks thereafter were better at $178,666 and $105,422.
In total, The Greenbrier’s sportsbook has earned just over $447,000 in total handle with $75,697 earned in revenues. Taxes to be paid by the venue come in at just over $7,500. The property does have a positive in its favor as they are partnered with a major sports brand, FanDuel. While the land-based venue is not doing well, the online version is sure to do much better.
In New Jersey, FanDuel has already launched an online and mobile platform and the launch of the same offering should be ready for West Virginia in the near future. Once the online capabilities are ready to go, the brand should do much better in the state and possibly eclipse the Hollywood when it comes to total betting handle and revenues earned.
The only other venue in the state that could offer sports betting is the Mountaineer Casino. They have yet to submit an application to get started, though they apparently plan on doing so in the future.