Delaware Develops Sports Betting Model with Promising Results
Published October 24, 2018 by Lee R
The total impact of sports betting is not clear, but a growth trend may be emerging in Delaware
The new era of gambling has yielded its first performance figures in America in the first state to legalise gambling after the Supreme Court repeal of PASPA.
Doubling Revenue in September
The small state of Delaware reported more than double the sports betting revenue totals for September, with punters placing roughly 340,000 wagers across the state’s three licensed gambling facilities.
The sum total fell just short of $16.8m (£12.9m/€14.6m) for sports betting last month, yet still represented a jump from the August total of $7.7m wagered.
NFL Play Driving Growth
With the NFL season boosting activity, wagers were up significantly compared to 121,000 for both July and August.
Landscape
The leading site was Delaware Park, where wager totals topped $11.6m for 69% of all bets.
Other casinos include sports betting at the Dover Downs Hotel & Casino and Harrington Raceway & Casino, with the predominant operator being GVC Holdings'
Stadium Technology Group which offers a proprietary sports betting platform for sportsbooks at each of those sites.
Other Regulating States
Other states that allow gambling in the US after the federal ban was removed include
Nevada, New Jersey, Mississippi and West Virginia. Two more have approved gambling, but have yet to perfect their regulation model and launch: Pennsylvania and Rhode Island.
New Jersey and Mississippi
In New Jersey, where the governor stepped down from his post ostensibly to put more efforts into repealing PASPA as his own lobbying project, saw $95.6m spent on sports betting during the first month of legal sports betting, while Mississippi punters wagered $6.3m in their first full month.
Out of the Gate
Opening June 5th, Delaware's regulated market hit the ground running with a $322,000 wager take on the first day of business.
Delaware's Arc
As far as overall earnings, Delaware has earned over 830 thousand dollars on NFL parlay bets in three months, a figure well above the 500 thousand dollars the state was projected make on sports betting by the Delaware Economic and Financial Advisory Council.
That's worth an estimated 69 thousand dollars per week to the Delaware state coffers after running costs and player payouts.
Outlook
With bettors have placed 470,726 wagers worth 6.7 million dollars since the September launch of sports betting, and the number of bets and amount of money wagered rising every week after the first, an overall growth trend remains. How much momentum this growth has remains to be seen.
