Looking At The Sports Betting Numbers: Delaware’s 1st Quarter Report

• Delaware Park is responsible for 61% of the state’s sports betting handle.
• Delaware has reached a total sports betting handle of $114 million since June.
• January and March accounted for 99.3% of the first three month’s revenue.

DOVER, Del. – With 667,002 wagers placed on sporting events in Delaware over the first three months of 2019, the state has seen their handle reach over $30 million.

As the sports betting scene in Delaware has been active for almost a full year, we are starting to see many trends occurring.

The biggest standout from the 2019 monthly sportsbooks data summary released by the Delaware Lottery is how much Delaware Park controls the market.

In a gambling market that is potentially oversaturated from being a short drive away to Atlantic City or Philadelphia, the sportsbook held its own against the big city competitors.

In the first quarter of the year, 61.8% of all wagers in Delaware happened at DelPark. Their handles of $8.1 million, $5.3 million, and $6.6 million for January, February, and March, respectively, comprised of $20 million of the total $30.9 million wagered in the state.

Though they boast the lowest hold of the other two sportsbooks (9.89% compared to 10.5% and 10.2%), their sheer numbers keep them as the favorite. With just under $2 million in net proceeds over the first three months, it stays on par with their handle percentage, contributing to 63.9% of the books’ combined $3.1 million revenue

It can be noted from the report that Harrington Raceway’s three-month wager total (107,149) equates to roughly one month of action at DelPark.

Comically enough, DelPark was the only sportsbook in the first quarter that reported a negative net proceeds month (February).

But this has more to do with the February’s sports betting numbers in general. Delaware, along with the majority of legal sports betting states, did not perform well in February due to the action taken on the Patriots for Super Bowl 53.

In Delaware’s case, January and March accounted for 99.3% of all revenue for the quarter, as the books totaled a February revenue number of $22,152, with no help from DelPark’s $28,750 negative earnings.

Dover Downs has been the second most popular book in the state, taking in under 148,000 wagers during the first quarter. Their near $6 million handle helped create $621,665 of revenue, or 20% of the books’ combined total revenue.

However, by the numbers, Dover bettors lay the lowest amount of money down per bet, at $40.26.

Harrington Raceway is the southernmost sportsbook but does not have much action from those in neighboring states. With 107,149 wagers placed over the first three months, Harrington saw the least amount of action.

Bringing in just under $5 million on those wagers, Harrington accounted for a few c-notes short of $500,000 in revenue.

As for the state, they receive 50% of the book’s revenue, where 40.2% head to the track commission and 9.8% increase the purse amounts on horse races.

March was the best month for revenue for the state, as they accumulated $822,083 in tax contributions. January was responsible for $719,179, while February accounted for $11,076.

The combined $1,552,338 of revenue isn’t at the projected level for 2019; however, the industry isn’t on shaky ground.

Since full-scale Delaware sports betting started on Jun 5, 2018, the state has seen $114,344,025 in betting action enter into the sportsbooks.

News tags: DE revenue | Delaware | Delaware sports betting | sports betting revenue