Now that West Virginia sports betting has been established for a few months, some conclusions can be drawn regarding the leaders in the market share.
One thing seems to be certain: Hollywood Casino at Charles Town Races is leading the pack and doesn’t appear ready to let up anytime soon.
The largest casino in the Mountain State was also the first to offer sports betting. Its sportsbook had a soft opening on Aug. 30 and then launched in full two days later.
The ability to offer the only sportsbook in the state was a major component of Hollywood Casino’s early success. Being able to grab the top spot and maintain it appears to be crucial to long-term benefits in West Virginia.
WV sports betting handle and revenue climb
When breaking down the figures, no other WV sportsbook is really close to Hollywood Casino.
For the week beginning Jan. 12, Hollywood Casino’s sportsbook pulled in more than $220,000 in revenue. The other books failed to top $100,000.
Mardi Gras Casino finished this period with a total revenue around $58,000, while Wheeling Island Hotel was just over $46,000. These two casinos are the only current retail locations with an online platform. The BetLucky mobile app services both.
The FanDuel Sportsbook at The Greenbrier finished in the red with -$15,233.50 in revenue. This may be alarming, however, it was the week of the NFL divisional playoffs, so futures were likely paid. Additionally, the sportsbook’s private clientele will most likely always keep its numbers near the bottom.
Beyond revenue, the weekly handle at Hollywood Casino has also been consistently high.
The sportsbook had a handle of $2,673,096.45 for the week beginning Jan. 12 and a total of $2,662,729.36 for the week of Jan. 5. Those figures represent more than the combined handle of all the other sportsbooks.
Hollywood’s weekly handle has not dipped below the $2 million mark since October.
Location matters to WV Sportsbooks
Another large part of Hollywood Casino’s success is its convenient location within the state.
Not only can WV residents come enjoy all of the great amenities offered, but people located outside the state can as well. Hollywood Casino is only about 50 miles from major cities like Washington, D.C., and Baltimore, Maryland.
With WV bordering two states that don’t have legal sports betting in Virginia and Maryland, it makes sense that Hollywood is cashing in on bettors crossing state lines.
Big winner puts a spotlight on WV sports betting
On top of a quality location, some publicity never hurts. That’s exactly what Hollywood Casino got when it had a bettor hit a monster parlay at the end of December.
One lucky patron placed a $5 wager on a 15-leg NFL parlay, netting an incredible $100,000.
Although the sportsbook probably wasn’t too fond of paying out that amount, it sure didn’t mind the news stories and interest that followed.
WV sports betting will soon welcome DraftKings
Although Hollywood Casino is doing so well, there’s always room to grow within the sports gambling industry. Since there is only one online sportsbook at the moment, launching a mobile app soon will be critical to gaining some control of the mobile market.
Luckily for Hollywood, it has already secured its partner for moving forward in the online space. DraftKings Sportsbook reached a deal with Penn National Gaming, owner of Hollywood Casino, in mid-December.
Besides potentially being just the second online option available, DraftKings seems to know how to earn a profit in online sports gambling already. The sportsbook has been the consistent leader by a wide margin in terms of digital revenue in New Jersey.
With the best retail book in the state based on the numbers and one of the best online apps soon to launch, it appears Hollywood Casino may continue to dominate West Virginia sports betting for quite some time.