Delaware Casinos, State to Share in $450,000+ After 2nd Month of Sports Betting
By Jill R. Dorson | Published: August 6, 2018 at 5:22 pmBettors in Delaware won a lot more often than they lost in July, and while bettors laid down just over $8.2 million in wagers between June 25-July 29, nearly $7.7 million was paid out to winners. Those numbers translate into a $461,226 in net proceeds, according to the Delaware Lottery, as compared with net proceeds of $875,000 during the first 19 days of betting in June. In those first few weeks, bettors in Delaware wagered about $7 million against wins of $6 million.
The state and its three casinos split the net proceeds 50-50.
According to Delaware Lottery data, Delaware Park, which took $5.2 million in bets in June, took $5.8 million during the 35-day period ending July 29. Dover Downs took about $1.7 million in bets and Harrington Raceway took about $717,000. The casinos must report numbers on the fourth Sunday of every month.
Delaware Park Continued to Be the Busiest Venue for Delaware Sports Betting.
The numbers for the period break down as follows:
- Total handle: $8.2 million
- Total hold: $527K
- Hold: 6.4%
The uneven breakdown amongst the three William Hill-run properties is expected, as Delaware Park is located just south of the Pennsylvania-Delaware border and about 40 miles from Philadelphia. The venue is also easy driving distance to New Jersey and Maryland.
More than 122,000 bets were placed at Delaware’s casinos last month.
During the initial 19-day betting period, there was plenty of enthusiasm as Delaware became the first state since the Professional and Amateur Sports Protection Act was struck down on May 14 to accept sports bets, and at least one bettor made a total of $100,000 in wagers. The state also had the advantage of being able to capitalize on the on the World Cup, which ended July 15.
Since then, in what sports fans commonly refer to as the dog days of summer, there is little else to bet on besides Major League Baseball before the college football and NFL seasons open in late August and early September. In addition, New Jersey opened its doors for sports betting on June 14, likely drawing some of Delaware’s traffic.
