Delaware sports betting revenue significantly down in February

$22,152, that’s the total monthly revenue generated by Delaware’s legal sports betting venues in February.

Down from over $1,4 million in revenues in January this is a significant drop, mainly because of less activity and poor margins.

Stakes dropped from $11,9 million to $8,5 million, the Delaware Lottery reports.

h2 Punters won more in January

In January, punters won over $10,3 million, compared to $8,46 million in February. However, the total number of wagers went down from 227,328 to 193,537, affecting both the top and bottom line.

Sports betting venue Delaware Park reported a net loss of $28,750 for the month of February, even though it was the most popular venue in the state with over $5,3 million in bets. Punters won a total of $5,34 million, leaving Delaware Park with red numbers.

The two most successful sports betting venues were Harrington Raceway and Dover Downs. The former generated revenues of $16,442 (from $1,4 million in wagers) and the latter a total of $34,460 (from $1,7 million in stakes), making it the top earner in the state of Delaware.

In 2019, punters have wagered a total of $20,4 million, and won $18,7 million, making the year to date sports betting revenue for Delaware is $1.4 million.

It’s not only offline sports betting that have taken a beating in February. The Delaware Lottery reported a small drop in revenues for the state’s online sports betting sites, down from $279,541 in January to $274,692 in February.

The online drop in revenue is however not a sign on lower activity. Bets was up to $9,02 million in February from $7,42 million in January, a 21,5% increase month-on-month. However, Delaware punters took home over $8,7 million in February, compared to $7,1 in January.

Dover Downs was pushed down to second place as Delaware Park took the spot as the most successful online sportsbook, both in terms of the total value of wagers and revenue.

Delaware Park had revenues of $115,518 from over $5 million in bets and $4,97 million in winnings.

Dover Downs posted revenue of $103,452 from over $2,7 million in stakes, and Harrington Raceway reported revenue of $55,721 from $1,2 million in wagers.

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Mark Brown

Mark Brown, MD, is the author of Poker Player Newspaper. As a Doctor in international law he's an expert on online gambling regulation, tax and restrictions in different jurisdictions. Mark graduated from Oxford University in 1991 and has since then worked with some of the biggest gambling companies in the UK as a legal representative.