Delaware Lottery reports $17 million in Sports Bets
A few months ago, Delaware legalized sports betting to fulfill a growing demand and to help fill its coffers. For many sportsbooks, the test first test of how successful the year will be is based on the football season. This is because sports betting is seasonal and football season is a big cash cow for sportsbooks. Thus, it’s a good when the Delaware Lottery reports $17 million in Sports Bets for the first month of football.
Since Delaware is still a baby when it comes to the sports betting industry, this is big news for them. This is because Delaware took its first bet on June 5th and since then has taken $39.8million in sports wagers. Furthermore, 657,117 sports bets have been placed in Delaware with $5.2 million in total net proceeds going to the state.
For Delaware, this means that sports betting has more than doubled between Aug. 27th and ending Sept. 30th. In addition, the number of bets placed during the same period rose by 182% equaling a total of 343,245 bets.
What does this mean for Delaware?
Going by the numbers, it means that Vegas does not have to worry anytime soon about being dethroned by Delaware. However, this is also $17 million that could have potentially been placed in Las Vegas or even New Jersey. Thus, this is a big all around win for Delaware even if they only showed modest numbers.
At the moment, Delaware only has three legal locations available for sports wagering because online betting is not yet available. Of these locations, Delaware Park is the more popular venue and took in $11.6 millions in bets. In second place by a large margin is Dover Downs with $3.3 million followed by Harrington Raceway with $2 millions.
Delaware with its modest population will probably never become the sports gambling capital of the Northeast. However, its efforts will not only add to its revenue, it will also keep it from leaving the state.