Delaware’s sports betting market saw a significant increase in revenue in February despite a drop in handle.
According to figures from the Delaware Lottery, sportsbooks in the state generated $159,800 in revenue in February, up from the $22,152 generated in February 2019.
Although the state saw a significant year-on-year increase, the latest figures represent an 89.4% drop on the $1.5m generated in January 2020.
Sports betting handle in February amounted to just over $7m, a slight drop on the $8.5m wagered in February 2019. February’s betting handle also saw a significant drop on the $9.1m wagered the month prior.
Breaking down the figures
Looking closer at the figures, Delaware Park continued to lead the state’s sports betting market after generating $96,773 in revenue from $4.2m in wagers. February’s figures represent a significant year-on-year increase after the venue made a loss of $28,750 the same time last year.
Harrington Raceway took second place in February with $35,278 in sports betting revenue, despite betting handle falling by 13.3% to $1.3m.
Dover Downs came in third place after revenue dropped 19.5% year-on-year to $27,749 after sports bettors wagered $1.5m on sporting events at the venue.
Sports betting in Delaware
Delaware was one of the first states to legalize and launch sports betting in June 2018.
When compared to other states, it could be argued that Delaware’s sports betting industry has been struggling. However, it’s important to remember that sports betting in Delaware is currently restricted to three land-based venues – Delaware Park, Harrington Raceway and Dover Downs.
On top of this, Delaware is one of the smallest states in the US and shares borders with New Jersey and Pennsylvania, two states that currently offer online and mobile sports wagering. It wouldn’t be a surprise to see sports fans in Delaware travel across state lines to take advantage of sign-up offers and mobile wagering in those states.