Delaware Reports Decline in Sports Betting Revenue in March

Delaware Reports Decline in Sports Betting Revenue in March

The lack of sporting events and the coronavirus outbreak has slowed down the rapid growth of sport betting revenues in several parts of the US. The Delaware Lottery posted similar results recently, marking drastic falls in revenues.

Delaware suffers from low revenue

Revenues in the five weeks to March 2020 were down 64.3% year-on-year as the sports betting revenue fell to $571.486 compared to last year. However, the total was still better than February when it collected $159,800. This led to a sizeable 257.6% increase month-on-month.

Delaware Reports Decline in Sports Betting Revenue in March

In March, the total sports betting handle was $3.9 million, which marked a huge drop from March 2019’s $10.5 million. The betting options were limited during the month because sporting events were canceled due to the coronavirus outbreak.

How did the casinos perform?

Delaware Park casinos managed to gain the top spot in the market last month with a betting handle of $2.3 million and revenue of $340,100. This led to a 67.3% fall year-on-year with player spending falling by 65.2%. Harrington Raceway managed to get the second position during the month. Its revenue was $125,889 which was 55% down from $279,450 it earned in March 2019. The consumer spending was down by 53.6% at $834,824.

Dover Downs managed to hold the third place with total player spending falling 65.2% to $730,515. Its revenue fell by 67.9% year-on-year and reached $105,487.

According to the Delaware Lottery, the year-to-date revenue for the state fell by 29%. Last year, it was $3.1 million for the comparable period while it is $2.2 million in 2020. The state’s total handle has also dropped by 35.3% to $20 million.

Last week, the Lottery reported an increase in online gambling revenue for March on a year-on-year basis. It said that licensed operators witnessed $514,959, marking a 78.3% rise as compared to the $288,745 earned in March 2019. The number was 58.5% higher on a month-on-month basis as February’s revenue was $324,958. Player spending during the month was $16.4 million, 12.3% higher from March 2019.

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Sherlock Gomes loves to write and express his views on anything related to Gaming, Gambling, & Casino. He has been covering Gaming for more than two years now.