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Lottery data shows steady, if slow, growth for mobile sports betting apps

Based on weekly revenue figures from the state Lottery Commission, it would appear that the launch of mobile sports gaming peaked in the week ending Sept. 7, when mobile apps operated by DraftKings and Fan Duel netted total revenue of $275,452.

In the next week, that figure dropped to $250,625, then $197,999, before rebounding to $247,163 in the week ending Sept. 28.

However, the numbers show more about the idiosyncrasies of betting on sports than the popularity of the new option for sports wagering in the state.

Since the launch of mobile sports gaming in late August, total weekly wagers have steadily grown from $532,799 in the week ending Aug. 31, to $1.54 million in the week ending Sept. 21, the last week that a breakdown by total amount wagered, total winnings, and revenue is available from the Lottery Commission.

What may have pushed revenues higher for the week ending Sept. 7 is that on the other three Saturdays, the two mobile gaming sites have paid out more in winnings than they collected in wagers.

One of the differences on Sept. 7 is it marked the only game so far this season that West Virginia University failed to cover the spread, falling to Missouri by a 38-7 score.

The apps have also paid out more in winnings than they have collected in wagers on NFL football Sundays — also a factor that people are likely to collect their winnings on the day of the game, but place their wagers on days leading up to the games.

Lottery data also shows that the DraftKings app, operated in conjunction with Hollywood Casino in Charles Town, is somewhat more popular than the Fan Duel app, operated in conjunction with The Greenbrier casino.

Through Sept. 21, players have wagered a total of $4.24 million and won a total of $3.72 million on the DraftKings app, for total revenue of $522,584.

On Fan Duel, players have wagered a total of $3.01 million, and won $2.74 million, for total revenue of $275,827.

However, the Fan Duel app has already surpassed the on-site sportsbook at The Greenbrier, which during the period had $762,863 in wagers and revenue of $164,493.

The DraftKings app, however, has a way to go to catch up with the on-site sportsbook at Hollywood Casino, which had $12.12 million in wagers and $2.04 million in revenue during that period.

https://www.wvgazettemail.com/news/lottery-data-shows-steady-if-slow-growth-for-mobile-sports/article_30da11a1-e7c5-5418-87b7-80711d94ad14.html