Delaware Sports Betting: Total Handle Nets Almost a Half Million to Casinos
The Supreme Court of the United States overruled the sports betting ban for all states in May and Delaware was the first state to implement legal sports gambling. Between June 25 and July 29, the three casinos in Delaware with legal sportsbooks received over $8 million in bets, bringing in almost $500,000 in net proceeds.
According to gaming data provided by the Delaware Lottery, over $5.8 million of those wagers were placed at Delaware Park, which has the most out-of-state traffic due to bettors coming over the stateliness from New Jersey, Pennsylvania, and Maryland.
After money was given to the state and their respective racetracks, the casinos netted over $185,000 during the lottery’s fiscal month, which ends on the final Sunday of each month. Data showed that bettors enjoyed a higher win percentage in the second month of betting in Delaware. In the 35-day period of time that makes up July’s fiscal month, bettors won almost $7.7 million.
Comparatively, in the first three weeks (20 days) of legal sports gambling, bettors won almost $1 million less than the cumulative amount of wagered bets. The amount wagered was $7 million, and the amount won was $6 million. That first 20 days saw over $875,000 in net proceeds.
The state of Delaware received half (50%) of the total net proceeds from the three casinos for a combined share of $230,614 for July.
Breakdown for Each Delaware Casino
Delaware Park had 90,603 wagers which brought in a total of $5,823,029.00 wagered. The casino took in $133,843 after giving money to the state and purse increases at the racetrack.
Dover Downs had 19,877 wagers which brought in a total of $1,674,262.00 wagered. The casino took in $36,296 in net profit after giving money to the state and racetrack.
Harrington Raceway had 12,006 wagers which brought in a total of $717,474.00 wagered. The casino took in $15,417 in net profit after giving money to the state and racetrack.
As of right now, officials say that it’s possible the state may extend to a mobile or online betting platform, but there’s no word on when that might happen.
Baseball is taking the most of the daily action right now until college football starts at the end of the month. The World Cup finished in mid-July. NFL will start shortly after college football.
New Jersey’s Profits
The numbers for July are not yet available for review for New Jersey; however, an article by Thoroughbred Daily News reported that the total handle at the three sportsbooks in the state for the partial month of June was $16,409,616. Monmouth’s total sports betting handle was $8,176,212.00, which left them with a revenue of $2,279,166 after paying out winnings. This number does not include taxes and fees paid to the state of New Jersey or racetrack.
Darby Development LLC operates Monmouth Park, and the chairman and CEO, Dennis Drazin, said they’re really pleased with the numbers so far, and look forward to football season.
Overall, New Jersey’s two (at the time) licensed betting operators brought in just under $3.46 minion in revenue between June 14 and the end of the month, including pending wagers on “future events” and “unredeemed winning wagers/adjustments.” Without those, the total betting handle was $16.4 million.
Mississippi casinos and sportsbooks only opened for business on August 1, so we don’t have any information yet regarding how much people are betting. Sports betting revenue in the Magnolia State is taxed at 12 percent, the same as other gaming revenue. Eight percent will go to the states and four percent will go to local governments.
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