Delaware’s Gambling Industry: March Sees Record Sports Betting Surge
Delaware Saw Its Sports Betting Handle Reach $18.9M and Total Revenue Amounted to $1M
Great News for Delaware Bettors!
March proved to be a groundbreaking month for Delaware’s gambling sector, with sports betting experiencing an unprecedented surge in consumer spending, skyrocketing by a remarkable 440.0% year-on-year to reach $18.9 million.
Sports Betting Revenue in Delaware
The surge in sports betting activity during March was propelled by the launch of Delaware Lottery’s inaugural online sportsbook, powered by Rush Street Interactive (RSI) and BetRivers.
The possibility of betting online brought a new wave of enthusiasm among bettors, leading to a substantial increase in the handle compared to previous years.
Revenue figures painted an equally robust picture, with total revenue amounting to $1.0 million in March, representing an astounding 89.2% increase from the previous year.
Delaware Park emerged as the frontrunner in revenue generation, followed closely by Harrington Raceway and Bally’s Dover, highlighting the diverse landscape of sports betting operators in the state.
Retail sports betting also played a significant role, contributing $58,273 in monthly revenue, underscoring the coexistence of online and brick-and-mortar wagering options catering to different demographics and player preferences.
iGaming Soars to New Heights
Online gambling entertainment options continue to gain popularity, March witnessed an impressive surge in total spending in online casinos, reaching $136.0 million, marking a substantial 227.7% increase compared to the previous year.
Revenue also experienced significant growth, surpassing last year’s figures by 228.6% to reach $4.6 million.
Delaware Park emerged as a dominant player in the online casino segment, reporting substantial revenue from online video and table games.
Harrington Raceway and Bally’s Dover also secured notable positions, further solidifying the state’s position as a thriving hub for online gaming.
A bill to expand the betting market known as HB 365 is currently under discussion, but betting news reports that the Delaware Lottery and Rush Street Interactive are against this bill. Helene Keeley, the executive director of the Delaware Lottery, told LSR.
“The Delaware Lottery’s job is to maximize State revenues,” Keeley said. “HB 365 would reduce State revenues, negatively impact the State’s equine and agricultural industries, and exacerbate problem gambling by significantly increasing ‘free’ bets and promotions.”
“If enacted, the bill would shift State revenues to sports wagering companies and also trigger federal excise taxes. HB 365’s proposal to license multiple mobile sports gaming businesses to compete with ourselves would not ‘grow the pie’ but instead lead to smaller slices of pie – especially for state taxpayers.”
Delaware has become one of the fastest-growing betting markets and is positioned to continue with the same trend in the months to come.
For gambling news, odds analysis, and more, visit Point Spreads Sports Magazine.
