The West Virginia sports gambling market is hitting at its full potential. Bettors have been busy since online sports have become available in the Mountain State.
The record of this week has everything although the revenue figures for the state werent released last week.
WV sportsbooks establish a new record for overall betting manage in weeks to initiate the month of November. Sportsbooks topped $8 million in wagers for the very first time to get the week of Nov. 2. Then to followup, they announced more than $8.3 million in bets for the week ending Nov. 9.
During this period, online sportsbooks overtook the places in terms of betting handle. In the most recent figures for Nov. 9, retail books took nearly $4.1 million in bets; however, online platforms were responsible for over $4.2 million.
This is the first time in the history of sport betting that online manage retail manage.
In terms of earnings, its been an up and down fourteen days to the WV industry. For the week of Nov. 2, sportsbooks chose their biggest weekly loss by nearly double. Sportsbooks lost over $1.4 million to the week. This broke a streak of 15 straight weeks in.
They did regain quite nicely, Even though it was a week to overlook books. Though sportsbooks did not make it all back, they got over $925,000 for the week of Nov. 9.
With college basketball both at this time and college football, the sports could be growing in WV. Both sport are loved following by fans of both Marshall and WVU.
After two caliber victories last weekend, the Mountaineers and Thundering Herd return to the area. While Marshall is searching for the sixth WVU is looking to win its second game.
This weeks report includes action from Oct. 27 — Nov. 2 and Nov. 3 — Nov. 9 in three retail and 2 on line WV sportsbooks:
These are the key takeaways from the Nov. 2 and Nov. 9 amounts:
It was just a matter of time before sportsbooks conquer at the retail locations of accepting bets in terms. It took 11 weeks to DraftKings and FanDuel to achieve there as their manage exceeded $4.2 million to the week of Nov. 9.
Although some might see this as a terrible sign for retail sportsbooks, it isnt. The handle for retail has been constant because betting apps returned.
Online handle passing retails is a sign that is fantastic as it implies that sports gambling is becoming popular across the state. It is not however, others sprinkled throughout WV.
Contrary to a few other countries with legalized sports gambling and New Jersey, WV is a place anytime they want, which most individuals can not get to the sportsbooks. The increase of statistics that are online shows that FanDuel and DraftKings are tapping into the more recent bettors in the country.
It also proves that internet wagering is convenient and here to stay. The NJ market provided a blueprint to others, and its apparent that the more people prefer wagering through a app.
Online sportsbooks handles must continue to grow with time.
Since the cellular bets continue to pour , the overall manage of the state keeps hitting new heights. Following a week that occurred sportsbooks have now set a list.
The current sports season is still a factor, although the increase of online betting is an integral contributor. Bettors can place wagers on football, baseball, basketball, soccer, and much more.
Handle may stay high but it will not get any better in this time of year for sportsbooks.
To observe the effect soccer has on a gambling market, look no farther than the week of Nov. 2. Sportsbooks lost over $1.4 million, and the school soccer results had a hand in it.
While the Thundering Herd did the exact same contrary to Rice as favorites, the Mountaineers covered as underdogs against Baylor. Of course, other matches affected the states earnings for the week, but equally WV programs covering are bad news for sportsbooks.
Here are the??most recent figures??published by the WV Lottery Commission since??WV sports gambling revenue??tracking began in August 2018:
The overall betting handle has been going up the last two weeks in each. It grew 3% and reached 8,051,364.42 for the week of Nov. 2. Handle then increased again, jumping up 4 percent to total $8,349,263.80 for Nov. 9.
Earnings, on the other hand, has been a roller coaster for two weeks. Statistics dropped 204%, falling to $1,416,410.54. Sportsbooks did bounce back, though. They got $925,106.84 another week, which is a 165% increase.
The figures are shown by the breakdown of the handle from the last two weeks. Hollywood Casino is comfortably in first with almost $10 million in handle during this interval.
Though its drop was seen by Hollywood two weeks past, gaming figures surpassed $ 5 million this week. This can be the third-best week of really its sportsbook.
DraftKings, hollywoods internet stage, had two weeks too. It accepted over $2 million in stakes fourteen days, such as its very best week in history, Nov. 9.
The Greenbrier completed second for the period with nearly $5 million. Its sportsbook failed in weeks, after not hitting 2 million in manage.
Its sportsbook totaled over $2.2 million to Nov. 2, then bested that with more than $2.5 million. The handle of the Greenbrier has increased in each of the last four months.
A great deal of this success is because of the FanDuel Sportsbook of The Greenbrier. Additionally, it set new records for the last two months, costing $2.1 million weekly.
Mountaineer comes from with just under $1.8 million. Its absence of an alternative that is online is currently starting to show because its handle is now stagnant .
Its only decreased since, although its sportsbook totaled over $ 1 million in manage in mid-October. The 840,000 it approved this week is Mountaineer deal in nine weeks.
Heres how the WV sportsbooks rank for weekly manage:
Like the figures that are manage, the earnings positions consist of the last two months of gambling in WV. While whats true, the rankings are a little skewed because of the terrible week sportsbooks suffered when they lost around $1.4 million.
The top spot is held by the Mountaineer Casino with around $160,000. But once the remaining portion of the state failed Mountaineer managed not to eliminate any money.
Mountaineer made gains of around $80,000 in each of the previous two months.
The Greenbrier completed second with more than $100,000. Its own sportsbook recovered by making $330,000, a week back after losing over $225,000. This recent week will be The Greenbriers best in terms of creating revenue.
Hollywood Casino ended in last behind the non-active sportsbooks because of how badly it failed the week of Nov. 2. Its sportsbook dropped close to $1.3 million that week.
Its a revealing for Hollywood though it did better earning over $500,000 per week. $ 1 million was formerly made by its sportsbook to four months leading up to this report.
Both Wheeling Island along with Mardi Gras Casino are still shut they paid a combined $264 out .
Heres the way the WV sportsbooks rank for revenue:
With all the college football season coming down the stretch, every game is getting more crucial. Fresh off of two successes, both WVU and Marshall are back in action this weekend.
WVU is playing with with Oklahoma State, while Marshall takes on Charlotte. Here are just two games odds Offered from the two online platforms at the country, DraftKings and FanDuel:
Odds last updated Nov. 21.
The NFL season can be eyeing the finish line. With only a few weeks remaining in the season, teams should start to create their moves before it is too late.
As Week 12 strategies, here will be the odds about the Regional NFL games based on FanDuel along with DraftKings:
Chris Imperiale covers sports betting and the internet casino businesses. He was previously on staff in Bleacher Report and has a journalism degree from Rutgers University.
Bet with your head, not over it. If you have a problem call 1-800-GAMBLER.