The Betly Mardi Gras and Betly Wheeling Island sportsbook apps have shut down as the company prepares to relaunch a single integrated online casino and sportsbook product. Betly says the new product will be coming later this summer but has not provided an exact date.
West Virginia online casino users have been seeing their range of options increase for the first time in over a year. Betly’s online casino will be the second launch in the state this summer. In June, WynnBet launched its online casino in West Virginia in a partnership with Betly’s co-owner and license holder, Delaware North. Before that, Mountain State residents had only had access to the same eight brands operating since January 2022.
Delaware North owns and operates the Mardi Gras Casino in Nitro, near Charleston and Wheeling Island Hotel-Casino-Racetrack. In 2021, Delaware North and Gaming1 formed a joint venture called Gamewise, which runs the Betly Sportsbook.
WynnBet’s launch marked Delaware North’s first entry into the online casino space. The relaunch of Betly will give it two brands, similar to the state’s other online gambling license holders, which all have either two or three. In principle, with two retail properties, it could host up to twice as many brands as those other casinos. However, given the state’s small population, it’s unlikely that any license will ever host close to its theoretical maximum of five brands.
The two additional summer launches could help the state’s revenue, which saw the worst-ever daily average revenue drop in May.
How Does Betly’s Shutdown Affect Customers?
Betly’s two sportsbooks are no longer active. Here are the crucial details for existing players:
- Both Betly apps (Mardi Gras and Wheeling Island) have ceased taking bets and deposits as of June 18.
- The company will continue to settle bets until July 11. Winnings will be credited to players’ accounts.
- Any bets that would still be pending after July 11 will be settled manually by the sportsbook.
- Players will retain access to their accounts until July 31 to view their bet history and withdraw funds.
- After July 31, the company will issue physical checks for any funds remaining in users’ accounts. Players should double-check that their mailing addresses are correct.
Players with additional questions or concerns can contact Betly directly at (304) 238-2267 or by email at [email protected]
West Virginia Online Casino Revenue Could Use a Boost
Until recently, West Virginia was the fastest-growing market in the US but has begun to slow down dramatically.
In May, gross gaming revenue for West Virginia online casinos was up 37% year-over-year, still better than most states. However, this is a significant slowdown from April and March, when the growth rate was over 50%. For much of 2022, it was above 100%. However, that growth may have been mainly due to the launch of live dealer games last summer.
According to projections by Bonus managing editor Alex Weldon, these numbers will drop significantly in the second half of the year. While revenue is up, a worrisome trend is forming around daily average revenue. As mentioned, May saw the largest decrease in history, with a revenue drop of 13.6% compared to April.
Additionally, April and March also posted negative daily average revenue trends. In April, the state was down 5.6% from March; in March, the decrease was 1.7% from February.
But even with some negative trends, there is room for optimism. New operators entering the market could rekindle interest and boost revenue.
As WynnBet launched in June and Betly is possibly entering soon, many players will be curious to try them out. Additionally, Fanatics’ acquisition of PointsBet’s US operations might boost that brand’s popularity.
An Improved App Could Help Betly To Become More Competitive in West Virginia
Sportsbooks in West Virginia accepted $31.9 million in handle and generated $3.5 million in revenue in May, marking a 20% increase year-over-year. However, Betly’s two apps took in only $762,000 in handle and $100,000 in revenue. That equals less than 3% of market share.
While it’s not a big player in the state, Betly’s app has received positive reviews for its user-friendly interface and features. The app offered a wide range of sports, and users could watch games live or review real-time results and statistics.
A new integrated and improved app could help Betly to gain a higher market share. Having the convenience to switch between casinos and sports can attract many new customers. Also, some users that usually play casino games could be tempted to try sports and vice versa.
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