It is the third straight month that West Virginia sportsbooks are seeing a decline in sports betting handle. According to the numbers from the West Virginia Lottery, the latest month on month handle sees a 12% drop from May to June. When you become a bookie, you need to keep track of monthly and even weekly data so you can try to understand what could be causing a decline in betting activity.
For West Virginia, it is simply because there are less events to bet on in the past few months. But a decline in handle does not necessarily mean that things are going bad. The handle tells us the betting activity made by players, not how much sportsbooks get to keep as profit- which is revenue.
The total handle for the state’s sportsbooks is $28.06 million, and the hold is at 9.3% for the month. This gives a $2.61 million combined revenue from both retail and online sportsbooks. The state collected $261,000 in taxes, which brings the fiscal year’s total to around $5.3 million in taxes.
West Virginia Sportsbooks and Sports Betting
As mentioned earlier, there are a lot less US sports leagues running during this time of the month. The sports calendar usually picks up on September, when football season begins, and continues all the way into the end of winter. But spring and summer tend to have less events. But less does not mean none. You have the MLB, as well as other sports events like tennis, golf, racing, and more.
And this is why we always recommend that you use a pay per head bookie service that can give you more than just sports betting. During the lean months when you may see less activity in your sportsbook, an online casino may be just what you need. Online casinos have games that are there throughout the year, so players have access to it any time they want to. This is a strategy that most bookies use to augment and maintain their profit margins.
As long as you check the features of a reliable sportsbook software before using it, you can help address problems similar to what sportsbooks in West Virginia now have. Aside from having a portfolio that offers international sports, you can also add in horse racing and a casino to keep your players busy during the offseason of the NFL, NBA, and college sports.
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