Delaware Sports Betting Market Rebounds in June After Drop

TopUsBets.com

By Dave Golokhov

August 1st, 2019 - 3:43pm

It was a good month for sports betting in Delaware. The state, which legalized sports betting in May of 2018, saw a growth in wagering after back-to-back months of declines.

Delaware Sees $6.3 Million In June Sports Betting

It was a busy month for sports bettors in The First State as they wagered a total of $6.3 million. As a result, the state collected $466,705. The players ended up winning back $5.8 million, which left the 7.4 percent share for the state.

The good news is that this was the first growth in sports betting that the state had seen in three months. They won $406,293 in May on $5.9 million in bets. That’s the best number since April when $615,772 was collected.

The high watermark number for the year is still the month of March where the state saw $1.64 million in net proceeds. That came on $10.48 million in handle. As far as the most wagered in a month this year, that’s still January where bettors placed a total of $11.9 million in bets, according to the Delaware Sports Lottery.

Delaware Park Leads Way In June

Drilling down into the specific casinos, Delaware Park returned the best sports betting numbers in the month of June. They welcomed $4 million in bets and took home $296,694 as a result. That’s an 11 percent bump for them as they saw $3.6 million in May with $252,067 in winnings.

Dover Downs was the runner-up as they had $1.5 million in customer bets in the month of June. However, that was actually a slight drop from the May numbers when the Downs had $1.3 million in sports bets. As a result, the casino actually won less month-over-month, as the house collected $91,789 in June versus $101,444 in May.

Harrington Raceway came in third place as it picked up $1 million in bets in the month of June. That was a sizable jump from the $768,048 they took in during the month of May. As a result, the casino held $78,222 in June versus $52,782 in May.

No Delaware Online Sports Wagering Yet

As of now, the aforementioned three casinos are the only places to bet on sports in Delaware. The state does not permit any other outlets (retail) or online options.

Currently, the state puts a 50% tax rate on gross for sports gambling revenues. There is also a 10% tax that goes to Delaware horsemen for track purposes. Finally, there’s a quarter-percent federal excise tax on all of the handle.

Although neighboring states like Pennsylvania and New Jersey continue their online sports betting rollout, Delaware’s movement in this realm is on pause.

However, with the numbers being positive so far, one has to figure that the state will push forward with sports betting both at more retail locations and make a push to regulate and offer the mobile version of it too.

TopUsBets.com
Written By
Dave Golokhov

Veteran journalist and writer Dave Golokhov, whose work has appeared in publications and websites ranging from AskMen to FOXSports, covers sports betting news for TopUSBets.com.


... Read More

Veteran journalist and writer Dave Golokhov, whose work has appeared in publications and websites ranging from AskMen to FOXSports, covers sports betting news for TopUSBets.com.


...

Read More