We don't see the topic of sports betting slowing down any time soon – it's been the media's favorite ever since the historical ruling out of the PASPA in May, paving the way of nation-wide legalization of this branch of the gambling industry.
Numerous states have acted quickly and in some, sports betting is well underway and the first fruits are being picked as we speak. Such is the case in Delaware, whose lightning-quick reaction to the US Senate decision has already created a regulated market there and the first official monthly results are in.
The first US state to offer sports betting under new law has reported a $7 million revenue in wagers by punters during the month of June – in fact, that's in a little less than one month, since sports betting officially began in Delaware on June 5th, while the 24th marked the end of the fiscal month. Delaware's racetracks earned $1,000,247 during this time. Of these $7 million, the state holds on to $1 million, while Scientific Gaming, who is the official supplier of the Delaware sportsbook, earned $125,000 in fees. $5.23 million of the total figure is contributed by Delaware Park, while Dover Downs Hotel&Casino contributed with $1.18 million. Delaware Park also saw the biggest amount of wagers placed – around 51,000!
The first symbolic wager was placed by governor, John Carney, on June 5th and in the single first day of sports betting, Delaware gained $320,000 in revenue. Bessie Gruwell, who is the state’s Thoroughbred Horseman's Association Executive Director, was very pleased with the first month's results, claiming: "Any time we can add any money to our purse account we are happy. I'm glad that this started when it did, at a time when there aren't a lot of sports to bet on, because they have some kinks to work out. They shut down at 11 p.m., so they had to, on one occasion, turn everyone away in the middle of one of the NBA finals game. There's also been long lines. But, hopefully, they should have everything working much better by the time the NFL and college football games start. If they do, and with the popularity of those sports, I would imagine that $62,000 figure would grow quite a bit."
The financial results are reported by the state's body in charge of sports betting, The Delaware Lottery.
Source:
“Delaware Sports Lottery 2018 Monthly Sportsbooks Data Summary (Unaudited)”, delottery.com, July 3, 2018.
jade
5 years ago
I am surprised that they have not abolished UIGEA! They really don't have a choice now. There are so many other issues in our government that are distracting officials from the gambling issue, but I'm sure it's somewhere on their agenda. It has to be taken care of....... I live in a state that is against two major issues,...
I am surprised that they have not abolished UIGEA! They really don't have a choice now. There are so many other issues in our government that are distracting officials from the gambling issue, but I'm sure it's somewhere on their agenda. It has to be taken care of....... I live in a state that is against two major issues, gambling and marijuana. I doubt I'll be seeing any legislation in our state, any time soon.
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TrufflePiggie
5 years ago
For sure, the legalization of sports betting in the whole of US (I hear that California will wait awhile, but will get there eventually) will change everything completely. Some concerns over the regulations of leagues and competitions are legitimate, but that's good pressure on all responsible for keeping the games fair...
For sure, the legalization of sports betting in the whole of US (I hear that California will wait awhile, but will get there eventually) will change everything completely. Some concerns over the regulations of leagues and competitions are legitimate, but that's good pressure on all responsible for keeping the games fair and square. This will be a great test of leading people's honesty. I hope the extra income will be put to good use across the U.S. as a whole.
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zuga
5 years ago
there ya go. UIGEA must be abolished.
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jdpennyd
5 years ago
Good for Delaware! It's such a nice little state. Now that sports betting is legal many more states will be getting in on the action. While there will be issues with problem gambling etc... I imagine some of the revenue gained from these ventures will be used for programs to help combat the issue.
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Kristen Munoz
5 years ago
ok so that being said yes of course sports betting is a money maker and can be and should be very good for the states . i am all for it, i also am ready to hear all the other bull shit that will also be coming with it from behind the scenes more money more problems and with states involved there will be alot of hating going...
ok so that being said yes of course sports betting is a money maker and can be and should be very good for the states . i am all for it, i also am ready to hear all the other bull shit that will also be coming with it from behind the scenes more money more problems and with states involved there will be alot of hating going on
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