The Delaware Lottery has released sports betting figures for the second month now, and total handle is up. According to figures published by the DE Lottery yesterday, Delaware’s three racetracks took more than $8.2 million in wagers and paid out more than $7.6 million in winnings over the period ranging from June 24th to July 29th.
These numbers are up over last month’s report, which revealed that Delawareans wagered just north of $7 million and won back a little over $6 million. It should be noted that the first reporting period was shorter with full scale sports betting kicking off on June 5th and that reporting period ending June 24th.
This month’s report provides us with a first look at wagering activity over a full, 35-day period. Although the latest report covers a longer time period, Delaware sportsbooks should be pleased to see betting activity still going strong now that the newness of legal sports betting is receding in the rear-view.
Betting Activity by Racetrack
Under Delaware law, the state’s three licensed racetracks are the only locations authorized to take sports bets. Delaware Park, Dover Downs and Harrington Raceway have all offered sports betting since June 5th. All three racetracks saw increased handle compared to the last reporting period.
Once again, Delaware Park led the way with $5.8 million in wagers placed to far outpace Dover Downs and Harrington Raceway. Dover Downs came in second place with nearly $1.7 million in wagers placed. Harrington Raceway finished in third place again with a little over $717,000 in total handle.
Here’s how the numbers break down for each track over the period ending July 29th:
- Wagers placed: 90,603
- Total betting handle: $5,823,029
- Net proceeds: $331,295
- Track commission: $133,843
- Purse increases: $31,804
- Wagers placed: 19,877
- Total betting handle: $1,674,262
- Net proceeds: $91,196
- Track commission: $36,296
- Purse increases: $9,302
- Wagers placed: 12,006
- Total betting handle: $717,474
- Net proceeds: $38,735
- Track commission: $15,417
- Purse increases: $3,951
Delaware Sports Betting Results to Date
The numbers published by the Delaware Lottery yesterday also conveniently include overall figures since sports betting went live in early June. So far, Delawareans have placed a grand total of $15,218,490 in wagers and have received back winnings of $13,691,103.
Those numbers bode well for the future of sports betting in Delaware, especially considering the summer months tend be slower in this industry. With the NFL’s first preseason games all falling outside the latest reporting period, results from the next reporting period will be very interesting.
However, Delaware will also be seeing increased competition from neighboring states in the near future. Pennsylvania has already passed legislation to legalize sports betting and at least one casino has confirmed it will pursue sports betting. New Jersey’s sports betting market is also growing, and the first NJ betting site just went live to bring mobile sports betting right to the far bank of the Delaware River.
Delaware Park will feel that competition more than the other two racetracks as it is located closest to the border and has almost certainly benefitted from Pennsylvanians crossing over to bet on sports.
On the other hand, the Pennsylvania sports betting tax rate is set to be the highest in the nation and one of the highest in the world. Burdensome taxes may make it difficult for Pennsylvania’s sportsbooks to compete with Delaware’s sportsbooks in terms of odds offered to customers. At that point, it’ll become a battle of convenience vs. pricing for Pennsylvanians and that could limit (to a degree) the impact on Delaware Park.