Delaware saw a dip in net proceeds from sports betting for the four-week span ending Aug. 25 from the previous period, according to the Delaware Lottery report.
Wagers placed at Delaware Park, Dover Downs and Harrington Raceway totaled $4.41 million combined in late July and most of August with $3.84 in winnings and $505,006 in net proceeds. In the period ending July 28 there was $3.92 million wagered with $3.34 million in winnings and $507,410 in net proceeds.
The dip might not be a huge concern, however, since the proceeds total only fell by $2,000. The period ending March 31 was the tops this year for Delaware Sports betting proceeds at $1.64 million, followed by the period ending Jan. 27 at $1.44 million. For 2019 so far, Delaware has reported net proceeds at $5.61 million with just around 1.35 million wagers made.
Full scale sports betting came effect in June 2018 in Delaware.
In 2018, shortly after legal sports betting was implemented in Delaware, the period ending Aug. 26 saw the state pay out $6.91 million in winnings on $7.72 million wagered, with $706,780 net proceeds. So from 2018 to 2019 over comparable periods (covering mostly August in each case) Delaware took in $3.31 million less in action and netted $201,774 less in net proceeds.
Two other factors hold back Delaware sports betting revenue somewhat at this point. First, neighboring Pennsylvania and New Jersey have robust sports betting markets and bigger cities. Second, mobile sports betting – which has flourished in neighboring states and has accounted for the lion’s share of revenue in New Jersey and Pennsylvania, is not an option in Delaware.
Should there be a true concern? Perhaps, but in the months after August a year ago, Delaware thrived in September at $3.15 million in net proceeds and the handle topped $14 million in each of the final four months of the year, during football season.
With the NFL regular season about to enter Week 3 and the college football season nearly a month in, expect the action to come in steadily for the rest of the calendar year.
MLB playoffs are just around the corner and the NBA and NHL regular seasons are not too far away.
Delaware has fallen off as of late, but the numbers from 2018 – and established patterns in other states with legal sports betting – show that the sports betting landscape there will make a comeback. The NFL is too popular and too fun for the gamblers to stay away from making wagers.
Add in the other professional sports and the net proceed reports in September and October periods should be thriving.