August Marks Fifth Consecutive Month of Sports Betting Handle Falling in West Virginia

Sportsbooks recorded an August handle of $19.9 million, about 5% less than July. The saving grace for WV operators has been the hold, with sportsbooks reporting an August win rate of 11.7%.

Last Updated: Sep 11, 2023 4:45 PM ET Read Time: 4 min
Jaheim White West Virginia Mountaineers NCAAF
Photo By - USA TODAY Sports

The Mountaineer State’s legal sports betting operators continue to struggle to get action. 

According to the West Virginia Lottery, sportsbooks recorded an August handle of $19.9 million, about 5% less than July. It marked the fifth consecutive time that online betting sites and retail combined wagers have fallen month-to-month. Revenue also slipped 8% to $2.3 million. 

The saving grace for West Virginia sports betting in the last two months has been the hold. Sportsbooks posted an August win rate of 11.7%, just slightly lower than the 12% in July. West Virginia operators paid out $198,654 in taxes, down from $213,519 in the previous month.

Online sports betting made up $17.6 million of the total handle and $2 million of the revenue, while retail sportsbooks posted a higher hold of 12.2% than mobile operators in August. 

Greenbrier hauls in over $1 million in online revenue 

The Greenbrier led online operators in August as the partnerships with FanDuel, BetMGM, and Golden Nugget combined to produce a handle of $8.3 million, revenue of $1.2 million, and a nearly 15% hold.

Charles Town — which uses DraftKings, PointsBet, and Barstool — came in a close second with a handle of $7.8 million. However, a substantially lower hold of 8.3% produced revenue of a little over $655,000. Charles Town also reported the state’s best retail handle of $1.5 million and rode an 11.8% hold to nearly $180,000 in revenue. 

Mountaineer, powered by Caesars and BetRivers, reported revenue of $134,000 on a handle of $1.3 million for a 10.2% hold.

Changes to the landscape

Betly Sportsbook, which shut down for about six weeks, launched its new sportsbook and online casino app in August and took in over $258,000 in wagers with a reported revenue of around $22,700. Lastly, WynnBet is ending West Virginia operations, the online operator announced last month. 

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