Delaware Jumps with Joy with February iGaming Revenue GrowthPublished March 18, 2016 by Lee R
Delaware provides a standard for small market growth, with impressive iGaming revenues for February 2016.
February was the second best month ever for online gambling in Delaware.
Often the “forgotten state” when it comes to regulated online gambling in the US, Delaware is actually a pioneer in online gambling regulation, having licensed and regulated all the way back in 2013.
February saw the state post a $229,789.82 gain for its revenues, up from January’s $190,829. The only month Delaware ever performed better was in April of 2014, when revenues generated $240,762.
Small Market Regulation Works
While modest in proportion to the gambling hotbed states of New Jersey and Nevada, steady improvement and maintenance of profitability are sufficient indicators of success for the smaller scale state economy of Delaware. These are also positive signs for iGaming in general, because no matter how small or large a state, revenues need to remain profitable for iGaming to work and confirm to additional states of all sizes the efficacy of legislating regulation.
Delaware's small market growth was exemplified by an increase of new players for the month to 378. Table game blackjack brought in the lion's share of revenues at $97,899.32. The table game category of revenues bested its previous record by 275%, a record which never stood as it was just set in January.
Online poker increased 7.4% to $28,294.05 for the month, though the figure represents an 18% decline year-on-year from the same month last year.
Nonetheless, Delaware’s overall online gambling revenues for the month of February outdid the previous month by 20%, representing a sparkling 60% figure year-on-year.
In what is still seen as a hit-or-miss market, these numbers add up to a definite hit.
New Jersey Grows Strong
Meanwhile, large-scale New Jersey also performed encouragingly and admirably for February, posting another revenue record in the last monthly report.
New states considering online gambling regulation should be encouraged and attracted, as their respective market sizes will scale somewhere between Delaware and New Jersey's two working examples.