Delaware sports betting revenue increases despite decline in stakes

Delaware sports betting revenue increases despite decline in stakes

Monday, September 10, 2018 Posted by News Team
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Delaware Park by far the most popular brand with bettors

The Delaware Lottery has reported a 53% increase in net revenue from sports betting for the period from July 30th to August 26th. 

Net proceeds from its Sports Pick-branded sportsbook offering came in at $706,780 for the period, up from $461,226 for June 25th to July 29th.

The majority of revenue was generated from Delaware Park, which accounted for 68% of the total, or $482,765, followed by Dover Downs with revenue of $152,066, and Harrington Raceway with $71,949. 

This revenue growth came despite a 6 per cent decline in amounts wagered over the period, which fell to $7.72m. Players won a total of $6.91m over the period, with $100,969 in vendor fees also paid out. 

A total of 121,688 bets were placed, down from the 122,486 placed between June 25th and July 29th. In total, 71% (86,435) bets were placed via Delware Park, with 18% coming via Dover Downs, and just 11% via Harrington Raceway.

Since the market opened on June 5th, following the repeal of the Professional and Amateur Sports Protection Act in May, players in Delaware have wagered $22.94m in total. This has generated net proceeds of $2.04m for the state.

Delaware Park is by far the most popular brand for sports betting, with customers wagering $16.35m via the operator for the year to date, or 71% of total stakes. Customers have placed 227,972 wagers with Delaware Park in this period, or 73% of the 313,872 wagers placed in Delaware since sports betting launched.

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