Delaware’s sports betting revenue and handle grew year on year in April. A bill that proposes plans to extend the online gambling market of Delaware beyond its current monopoly is also moving forward.
House Bill 365, introduced in April of this year, aims to expand the online gaming market for Delaware to include more operators. The bill comes months after Delaware Lottery opened its first online sportsbook in partnership with Rush Street Interactive, BetRivers and BetRivers.
Since the Lottery launched its sportsbook in January, there has been a noticeable improvement to sports betting on Delaware. The monthly handle and revenue numbers are increasing, and this trend is continuing through April.
In light of this early success, legislators are looking for ways to expand the market.
HB 365 is at the center of the controversy. This week, it was transferred to the House Appropriations Committee. The House Administration Committee was assigned the bill upon its introduction mid-April but it has not been further acted on.
What’s in the New Delaware Sports Betting Bill?
This bill incorporates recommendations made by a study group that was formed last year, and which published its findings shortly before Delaware Lottery launched their online sportsbook.
The group concluded that the state’s tax revenues would rise more quickly if online markets expanded and became competitive. Handle is expected to reach $186.1m ($146.6m PS/EUR171.9m), $223.5m, and 5.0% in 2027.
In order to put it into perspective, the total handle in FY23 was $65.3m, including only four months from one online operator. Before online gambling, players spent just $19.5m in FY22.
This bill is designed to increase these figures by expanding the online market. The bill would allow each Delaware racetrack to have up to 2 betting operators as partners, meaning that as many as 6 online operators can join the market.
Each licence would be $500,000 and last for five years. Taxes would be charged at 18% on the sports betting revenues in Delaware for those who are successful in getting a license.
The bill also includes an extra 1.5% tax on revenues. The funds would go to Delaware Thoroughbred Racing Commission (or Delaware Harness Racing Commission) to help support Delaware’s horse racing sector.
The bill has not yet been approved.
In April, revenue and handling were up.
In Delaware, the total amount spent on sports betting in April was $15.5m. It is 400.0% more than April of last year. The state has been on a similar trajectory to this since the beginning of the year. The total expenditure in April fell 18.0% compared to March’s $18,9m.
Delaware Lottery launched its new sportsbook powered by Rush Street Interactive & BetRivers in January. The sports betting market in the state has seen a significant improvement over the last few months. This includes April. The total amount spent in April fell 18.0% compared to March’s $18.9m.
Revenues in April were $1.0m, up 171.0% on the previous year and at par with March.
Delaware Park is the clear leader of the betting market with a total wagering amount of $10.7 million generating $622.160.
Bally’s Dover was third with $77,115 off $1.3m and Harrington Raceway came in second place with $114 792 from $2.9m. Additional $86,049 revenue was generated from 715,036 wagers made at retailers throughout the state.
Delaware’s igaming revenues top $4.4m for April
In April, the total revenues in the gaming sector reached $4.4 million. It is up by 238,5% from last April and just slightly below March’s total of $4.6m.
Table games generated $1.1m of this total. The rest, $3.3m, was generated from slots.
In terms of spending on online gaming, the players spent $134.5m in April. This is up by 240.5% compared to $39.5m a year ago and only 1.1% less than the $136.0m they wagered in March.
In the last month, consumers spent $85.7m on online slot machines and $48.8m playing internet table games.
Delaware Park topped the list again, this time with $2.0m of total revenue. Harrington Raceway came in second place with $1.4m of igaming revenues, followed by Bally’s Dover at $1.0m.
In January each operator launched a new platform for online casinos, at the same time as the Delaware Lottery’s Internet Sportsbook was launched.
