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Significant iGaming Increase for Delaware

Significant iGaming Increase for Delaware

Posted on: Jan 17, 2023. Last Updated on: Jan 17, 2023.

Author: Matthew Haynes Expertise: Football News, Transfer News, Sports Betting

Substantial Wagering Figures See Revenues Rise

The festive season was certainly kind to the Delaware iGaming market, with a considerable spike in wagering figures across all industry niches.

December saw online gambling revenue rake in a total of $1.2 million in total - an increase of 56.4 percent from a year previously which came to $751,291, and an eye-opening 19 percent jump from November, which pulled in $987,423 altogether.

Of this, $890,894 can be credited to video lottery games, with $243,899 being table games and $80,007 attributed to poker.

Wagering figures amounted to $44.3 million for iGaming in December, which included $24 million staked on video lottery and $20.3 million on table games.

Of the three operators based in the state, Delaware Park was by far the most profitable, raking in $569,366 in revenue from wagers that amounted to $14.7 million in wagering. Meanwhile, Bally’s Dover came next with $351,514 in revenue figures and $17.6 million for the total amount staked. With revenue figures of $253,920, Harrington Raceway rounded it off, bringing in $11.8 million for customer spend.

The betting handle was also noteworthy. December saw Delaware Park come in first again, with net proceeds of $228,075 from a handle of $2 million, while Bally’s Dover brought in $114,892 off the back of $1 million worth of bets; meanwhile, Harrington Raceway brought in $82,760 from $711,730 respectively.

What Motivated the Upturn in December’s Numbers?

There are perhaps a number of factors that could be attributed to an increase in the figures for December in Delaware, not least of which is the time of the year. The Christmas period, globally, sees a major increase in consumer spending across a multitude of industries, and this, combined with the ‘feel good’ nature of the season, could well have triggered such numbers.

In addition, from a betting handle perspective, December saw US sports heat up, particularly the NFL, with the season set to reach a climax in early February, while the NBA is also in full swing.

Each of the casinos also hosted numerous Christmas events throughout the month, such as corporate parties, which may have also contributed to a rise in revenue figures, while the non-farm payroll figures in the state for the private sector jumped significantly in December to 1,000 new jobs created.

It will inevitably be interesting to see if this rise will continue in early 2023 for the industry or if there is a turbulent year ahead for a state that is yet to strengthen its grip on the US iGaming market.