Delaware Sees Record-Breaking Online Gaming Income
Delaware's online gambling industry may not seem significant when placed next to New Jersey's, but it's important to note that Delaware is much smaller, and can't take advantage of the same gambling history as Atlantic City. Still, growth in this area is important, even if the financial return may not be as impressive as we'd like.
This became evident when the Delaware State Lottery recently announced a huge 24% increase in March revenues compared to February, showing the strongest month yet for internet gambling in the state. It's notable that every month has seen growth, pointing towards a bright future for online gaming in Delaware.
For March, net revenues reached $206,833, coming from around $5.45 million wagered on online casino sites. The revenue increase was notable, but there was an even more significant rise in total wagering - up from $2.86 million in February. Although March has more days than February, this only accounts for a small part of the total growth.
The most popular categories were table games with almost $95,000 in revenue and poker at $84,317. Video lottery products also brought in $27,476.
This summer could be a boon for poker, as Delaware is aiming to start sharing poker player pools with Nevada, expanding the selection of games and stakes in both states. So far only 888 Holdings, with virtual poker rooms in both states, can take advantage of this.
The online gaming sites in Delaware are run by the three racetrack casinos within the state. With 64% of the online gambling revenues, Delaware Park remains the market leader, followed by Dover Downs at 24% and Harrington Raceway with 12%.
Harrington, however, has some good news this month, with an astounding 130% increase in wagering and an 81% increase in net revenues.
Growth figures like these may help Delaware fully appreciate the potential of its iGaming industry. While it's true that Delaware can't match the revenues New Jersey achieves, Delaware currently appears to be underperforming compared to its larger neighbor.
In March, New Jersey received a hefty $11.9 million in total online gambling earnings. This is over fifty times what Delaware manages, despite their different population levels. State officials might worry about the rate at which fresh player sign-ups are occurring, with only 640 new registrations taking place in March, a decrease of 8% from the previous month.
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