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Delaware Sports Betting Numbers For First 20 Days: $1 Million Revenue, $7 Million Handle

Delaware is one of the states that had an existing, partial sports betting product prior to the repeal of PASPA . The DE Sports Lottery has offered NFL parlay tickets since 2009, allowing folks to http://livebettingrih.blogspeak.net bet on the combined outcome of multiple games. Although parlays are a different beast, the product does give us something to compare against. Over the 2017-18 NFL season, total revenue from DE parlay betting came to about $4.8 million. September was the strongest month, responsible for about $1.77 million of that. The state’s revenue share totaled $2.4 million. If we assume the hold on parlays is around 30 percent, total handle was about $16 million for the year — all between August and February. During the launch of single-game wagering, Lottery Director Vernon Kirk expressed some apprehension over the pivot. Single-game tickets typically have margins closer to five percent, so Kirk anticipated needing to take six times as many bets to maintain revenue. It looks like he and his agency can rest easy. Despite launching in the doldrums of the sports calendar, the first month of single-game betting generated almost half as much handle as a full year of parlay betting. That 14-percent hold is high and would seem to be an anomaly, but it will be interesting if Delaware can continue to hold nearly that much.

For the original version including any supplementary images or video, visit https://www.legalsportsreport.com/21773/delaware-sports-betting-revenue-june-2018/

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