When you are learning how to become a bookie, knowing the sports calendar is one of the things you will be taught to do. Why? Because knowing when there will be a lot of games, or a lack of games, is crucial to your cash flow. Take the West Virginia betting handle for January. The numbers are lower, which would normally be worrisome for new bookies. But if you analyze the betting market, you will see that January has fewer football games than December.
This is important because football is one of the biggest drivers of betting handle in the US betting market. You have other professional and collegiate leagues running, but the drop in football betting will be noticeable. And the drop in the handle is because of less games, not less people wanting to bet in your PPH sportsbook.
West Virginia Betting Handle and Revenue Report
For January, the total sports betting handle for the state is 15% lower than December 2022’s handle. Revenue is also lower, with $3.6 million for January, a huge drop from December 2022’s $7.5 million. However, sportsbooks have a 8.1% hold, which is good.
The drop in handle could be because throughout the month, you only have a few college football games, and the NFL only had the playoffs. You have NBA, college basketball, and other sports keeping the numbers afloat, but not as much as the previous month.
As to where West Virginia residents are placing their wagers, retail sports betting gets less wagers than online sportsbooks. Out of the handle, $6.3 million was for retail betting, while online sportsbooks have $38.5 million. Given how popular online wagering is, its best to get everything done in your sportsbook software checklist and start offering the best betting lines in your own sportsbook.