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Delaware sports betting revenue declines again in November

News

Delaware’s sports betting revenue declined for the second consecutive month in November, with the state’s three licensed sportsbooks bringing in $1.4m.

This was despite a higher handle and a greater number of wagers placed than in October.

Players staked a total of $10.3m in the four-week period ending on 24 November, down 35.9% from November 2018, while the number of bets placed fell 18.8% to 285,910. Revenue also fell 66.2% year-on-year, to $1.4m.

Delaware Park continued to be the most popular spot for sports bettors, bringing in revenue of $852,909 on a handle of $6.3m. This represented a 41.2% year-on-year drop in amounts wagered, and a 42.1% decline in revenue.

Dover Downs, owned by Rhode Island-based Twin River Holdings, was second in the state in revenue, handle and bets, at $270,132, $2.1m and 71,422 respectively. Revenue was down 34.3% from November 2018, while handle fell 35.1%.

The Harrington Raceway made up the remainder of sports betting revenue, bringing in $249,499 on a handle of $1.9m and 56,527 bets. Although it also declined year-on-year in revenue, handle and bets, these declines were slower than the other two locations, at 10.0%, 6.6% and 1.5% respectively.

With November’s figures, sportsbook revenue for the year surpassed $10m, reaching $10.9m at the end of the period. This exceeds 2018’s figure of $8.9m, though this came on only six months of bets after the market opened in June of that year. Customers have wagered $89.4m this year, with total handle for the year close to exceeding $100m.