West Virginia Sports Betting Drops in April, With Signs of Recovery
West Virginia sports betting sank in April, falling 47.7% from March Madness-filled handle, with sports betting revenue also dipping 59.2% for the month.
According to the report released by the West Virginia Lottery Commission, the Mountain State’s sportsbooks reported a combined handle of $26.49 in April, coming down to the earth from $50.7 million reported in March.
The operator revenue also plummeted to $1.9 million from the $4.78 million reported in March, as per the Lottery Commission’s report. The state generated $165,922 from the industry in April, compared to $406,422 in March.
West Virginia mobile sports betting handle also saw a 47.7% dip to $19.8 million from $38 million in March, almost proportionate to the overall handle decline month-over-month.
What Led to the Sudden Drop?
West Virginia reports its sports betting figures weekly, unlike most other legal sports betting jurisdictions that release monthly figures. The Mountain State’s April figure comprises four weeks, from April 4 to May 1. The March reporting period ran five weeks.
Besides, the sudden drop is due to March Madness, the biggest sporting event in the US, which ended at the beginning of April. The traditional lack of sporting activity in April also caused the shrink in the handle.
In fact, the unusual madness in the NCCA Men’s Division I Basketball Tournament led to a 250% increase in March sports betting revenue from February, with handle swelling 32.7% between the two months.
Huge Improvement Year-Over-Year
Though a relatively poor performance from the previous month, West Virginia sports betting handle improved significantly in the year-over-year comparison. Mountain State’s last month handle was up 793.6% from the $2.96 million wagered in April 2020, all of which came through mobile betting amid the pandemic-led closures of casinos.
West Virginia mobile sports betting also represents a 568.7% improvement year-over-year.
In addition, state’s revenue generation was also up 159% from April 2020 ($155,058) to April 2021 ($165,922).
Handle by Sportsbook
Among the five land-based casinos in Mountain State, The Greenbrier in White Sulphur Springs led the April handle with $12.23 million. Hollywood Casino at Charles Town reported the second-highest handle with $10.77 million. Mountaineer Park Casino in New Cumberland was the distant third with $2.2 million.
However, Charles Town was the only sportsbook in the state to top $1 million in April revenue, generating $1.21 million.
West Virginia iGaming Also Declines
Like sports betting, West Virginia iGaming also saw a similar declining trend last month. West Virginia iGaming reported $118 million in the handle, representing a 22.4% plunge from the $152.5 million recorded in March. April’s iGaming revenue also dipped 24.3% to $3.78 million in April compared to $4.99 million recorded a month prior.
However, with FanDuel’s joining the party, iGaming in West Virginia saw has seen improvement in early May. The New York-based operator has partnered with Greenbrier to launch the fourth online casino in the Mountain State.
Future of West Virginia Sports Betting/iGaming Industry
West Virginia online sports betting and iGaming industry is expected to grow in the foreseeable future, especially with the launch of FanDuel. The national leader in the sports betting industry, FanDuel will likely attract the West Virginia market that usually relies on retail sports betting operations.
FanDuel-Greenbrier alliance follows the April launch of Rush Street Interactive’s online casino in West Virginia as BetRivers.com.
From monthly handles to the frequent sportsbook launches, all these signs lead to the recovery, growth, and towards a better future for West Virginia sports betting.