West Virginia Sets Weekly & Monthly Handle Highs in February

West Virginia Sets Weekly & Monthly Handle Highs in February
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The sports betting market in West Virginia again set weekly and monthly handle records in February, going over $10 million for handle in a week for the first time in early February then doing it again in the last week. And after a slow start to the fiscal year, mobile sports betting earned more than 71% of the market share in the week ending Feb. 29.

The total handle in February was $39,618,767 at West Virginia sportsbooks, up 12.1% from January’s $35,346,757. The state tabulates its figures weekly — the January figures are for Jan. 5-Feb. 1 and the February numbers cover Feb. 2-29.

WV Sports Betting Handle, February vs. January

ChangeDown 19.1%Up 35.2%Up 12.1%

West Virginia mobile handle hit $27,441,649, up 35.2% from January ($20,294,591), according to the state lottery’s report. The online market in West Virginia has grown substantially since mobile sports betting returned to in August. In the week ending Sept. 7, encompassing the first full weekend of college football betting, the state drew $1.875 million in mobile bets, less than a third of the total.

But for the week ending Feb. 29, West Virginia set a record with $7.171 million in mobile bets, more than 71% of the total handle of $10.750 million (also a record).

West Virginia Bettors Bank on Super Bowl

The revenue figures did not work out so well for February. West Virginia lost $626,470 in February from its sports betting ledger. The week ending Feb. 8 — the week of the Super Bowl — was paramount as bettors cashed in big-time, leading to a statewide loss of more than $2.2 million. In January, West Virginia made $2,749,042 in sports betting revenue.

But the handle records falling in West Virginia is a sure sign that the mobile sports betting market, which was dormant for several months after a contractual dispute shut down the state’s BetLucky apps, is trending in the right direction.

Top sportsbooks such as such as FanDuel and its rival DraftKings arrived in the state just in time for football season.

It is perhaps surprising that any week can top Super Bowl week for betting action but that was what happened in West Virginia. The state’s first $10 million week for sports betting handle came on the week ending Feb. 8 at $10,291,645. That mark stood for just three weeks.

It is not reasonable to expect West Virginia, with a population of 1.8 million, to draw the types of numbers that top New Jersey sportsbooks or their counterparts in Pennsylvania rake in every month in the same Eastern U.S. region. And West Virginia still does not have an ideal setup for all would-be bettors.

But the February numbers in West Virginia again confirm what is obvious across the country: The healthier a state’s mobile sports betting market is, the closer that state comes to reaching its market potential.

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