Delaware Sportsbooks Post Their Lowest Betting Handle And Revenue To Date

• Legal Delaware sports betting has been active for one year since June 5, 2018.
• Delaware Park has accounted for 68% of the entire betting handle and revenue since the state’s launch.
• Over $6.5 million was contributed to the state in the form of tax contributions over the first year of operation.

DOVER, Del. – The monthly betting handle and sportsbook revenue hit its lowest level on record for legal Delaware sports betting in May.

According to the most recent sports wagering update from the Delaware Lottery, less than $6 million entered the systems in forms of betting action.

The $5,920,766 bet on sports in May dropped only a few thousand from last month’s report but is over half of the previous six month’s average monthly betting handle ($12.6 million).

The monthly betting handle for Delaware has now dropped in five of the last six months.

In terms of revenue, the books posted their second-worst month of earning, taking in $406,293 amongst the three operators. This comes in well above the all-time low of $22,152 recorded from February’s Super Bowl betting action but only leaves slightly over $200,000 for the state in tax revenue.

However, the books have now surpassed over $4 million in gross revenue year-to-date, having sent half of that directly to the state government.

Broken down by the sportsbook, Delaware Park continues to lead the group. The $3.64 million wagered at Delaware Park this month brought their year-to-date total betting handle above $25 million ($27.3 million). Responsible for 63% of all revenue and tax contributions, Delaware Park has been the measure of consistency amongst the legal Delaware sportsbooks.

Dover Downs increased their betting handle month to month, from $1.26 million in April to $1.51 million in May. They are now a few c-notes shy of surpassing $25 million in total betting handle since the state’s early-June launch. On a positive (for the sports bettors), Dover Downs posted a hold percentage (6.74%) not seen at this venue (minus February) since October of last year. This was the first time in four months that Dover Downs was not credited as having the worst-performing sports bettors.

Harrington Raceway hit a major snag in the market, posting their lowest-monthly handle ($768,048) since July 2018 when it was $50,000 less. This venue has accounted for only 16% of all betting action and revenue year-to-date and even less (13%) since the state’s launch.

In Delaware’s first 12 months of legal sports betting, the sportsbooks have taken in almost $130 million in wagers, with $42.9 million of that coming in 2019 alone. Total revenue for the books, since the launch, surpassed the $13 million mark, sending $6.5 million to the state in the form of tax contributions.

The next update will come in a month’s time, reflecting June’s sports betting numbers. It is assumed the handle will remain rather low, as NBA Finals, NHL’s Stanley Cup Finals, the US Open, FIFA Women’s World Cup, and NCAA College World Series are the only major events happening during the month, besides the MLB regular season.

News tags: Delaware | Delaware Park | Delaware revenue | Dover Downs | Harrington Raceway