Delaware has posted its highest sports betting revenue figures in October since the pandemic hit the US, and second-highest of the year.
According to the figures released by the Delaware Lottery, sports betting operators in the state generated $1.5 million in revenue in October, making it highest figure since January of this year before COVID-19 hit non-essential businesses in the US. However, the revenue was down 11.7% year-on-year. Still, the October revenue reflects an optimistic market trend, representing a 66.8% month-over-month jump since retail sportsbooks resumed operations in July.
Delaware has three racinos in addition to 100 sportsbooks throughout the Diamond State located in places such as restaurants, liquor stores, and convenience stores. All of these sports betting operators contributed to the landmark figures achieved for the month of October. NFL was an additional factor.
Delaware posted a sports betting handle of $17 million in October, with the three racinos taking in most of the bets ($8.9 million combined) placed for the month, which is down 7.3% from $9.6 million in October 2019, but an increase of 22% on September’s $7.3 million handle. Retail location shot up by $3 million in betting activity from a month-on-month comparison with September drawing in $5.2 million and October witnessing $8.2 million.
Consumers in the state won an overall $7.2 million from sports betting during the month, placing around 171,936 bets in the process. Therefore, October’s revenue came in at around $3.5 million with September drawing in roughly $2 million, representing a jump of 77.8% for revenue numbers month-over-month.
The betting handle for October 2019 was $16 million, with a revenue of $3.39 million under normal circumstances and with fully operational facilities. Still, October 2020 represents an increase of 6.3% in handle, and 2.8% jump in revenue compared to the same duration last year. Even though the pandemic-led shutdowns and casino closures have largely eclipsed this year, the year-over-year figures suggest Delaware managed to have a better October this year than in 2019. This could be because many sports events coincided when they usually have their own seasons.
Breakdown by Operators
Delaware Park continued to lead the Delaware sports betting market in October by recording $829,438 in revenue, representing more than half of total monthly revenue in the Diamond State, and almost double what it generated in September. Besides, the Park also processed $4.9 million in bets during the same period, up 36.1% from September’s $3.6 million.
Harrington Raceway retained its second place with $390,475 in revenue, representing a 53.2% increase from September’s $254.809. Its handle also saw a 21.1% increase month-on-month to $2.3 million. The third place was claimed by Dove Downs with $288,485 in sports betting revenue, reflecting a 28.4% increase month-on-month, with a handle of $1.7 million.
The Delaware Lottery also released figures for the state’s iGaming performance for the month, during which revenue rose 161.6% year-on-year to $643,714. However, this was the lowest monthly total since March.
Future of Delaware Sports Betting
The future of the Diamond state’s sports betting reflects a positive outlook even though the state is without a regulated mobile sports betting market. Once the land-based venues return to maximum capacity, the numbers could significantly increase.
But, if Delaware launches its online sports betting market, the only sky will be the limit, with manifold revenue generation. The revenue in terms of taxes will serve to support the state, which, like many other states, are suffering to recover from the pandemic-led economic effects.