Delaware was the first state outside of Nevada to launch legal sports betting following the overturn of the Professional and Amateur Sports Protection Act. However, in terms of its sports betting revenue, Delaware has been slow to take off compared to other states.
Sports Betting Dime provides up-to-date data and analysis of monthly Delaware sports betting revenue reports. Below you can also scroll back in time to see the growth of sports wagering in the First State.
Read on for an in-depth look at the business of sports betting in Delaware.
Delaware Sports Betting Revenue: Month-By-Month Data
Sports Betting Dime keeps track of the growth of legal sports wagering by analyzing monthly financial reports provided by each state.
Here’s what each column represents:
- Handle is the total amount wagered on sports.
- Revenue reflects the gross gaming revenue kept by sportsbooks after paying out winnings.
- Hold percentage shows how much revenue sportsbooks kept as a function of the betting handle.
- State tax revenue displays taxes collected by the state and local jurisdictions.
The table below shows key financial figures from the launch of Delaware’s sports betting industry in June 2018 to date.
| Month/Year | Total Handle | Revenue | Hold Percentage | State Tax Revenue |
|---|---|---|---|---|
| June 2018 | $7,003,725 | $875,216 | 12.50% | $437,609 |
| July 2018 | $8,214,765 | $461,226 | 5.61% | $230,614 |
| August 2018 | $8,018,354 | $822,737 | 10.26% | $457,984 |
| September 2018 | $23,257,965 | $5,971,961 | 25.68% | $4,118,974 |
| October 2018 | $21,231,427 | $1,640,593 | 7.73% | $1,299,481 |
| November 2018 | $24,206,090 | $1,608,337 | 6.64% | $998,477 |
| December 2018 | $23,419,539 | $4,272,221 | 18.24% | $2,989,387 |
| January 2019 | $14,130,069 | $2,094,840 | 14.83% | $1,311,863 |
| February 2019 | $8,709,205 | -$475,771 | -5.46% | -$438,047 |
| March 2019 | $10,483,128 | $1,643,043 | 15.67% | $821,072 |
| April 2019 | $6,088,183 | $614,839 | 10.10% | $307,046 |
| May 2019 | $5,920,766 | $405,295 | 6.85% | $202,247 |
| June 2019 | $6,325,464 | $466,018 | 7.37% | $232,733 |
| July 2019 | $3,920,974 | $507,199 | 12.94% | $253,516 |
| August 2019 | $4,745,747 | $493,106 | 10.39% | $241,770 |
| September 2019 | $18,781,406 | $4,425,640 | 23.56% | $3,123,828 |
| October 2019 | $16,066,023 | $3,388,776 | 21.09% | $2,358,625 |
| November 2019 | $16,850,854 | $3,014,648 | 17.89% | $2,167,507 |
| December 2019 | $20,466,561 | $2,972,118 | 14.52% | $2,032,440 |
| January 2020 | $11,187,011 | $1,995,980 | 17.84% | $1,190,481 |
| February 2020 | $7,279,650 | -$303,120 | -4.16% | -$337,668 |
| March 2020 | $3,877,068 | $570,442 | 14.71% | $284,802 |
| July 2020 | $209,282 | $12,114 | 5.79% | $6,058 |
| August 2020 | $2,957,634 | $367,116 | 12.41% | $183,559 |
| September 2020 | $12,439,302 | $1,972,198 | 15.85% | $1,402,669 |
| October 2020 | $17,086,034 | $3,483,045 | 20.39% | $2,534,638 |
| November 2020 | $19,510,093 | $5,901,515 | 30.25% | $4,437,584 |
| December 2020 | $15,696,681 | $3,097,115 | 19.73% | $2,341,189 |
| January 2021 | $15,649,254 | $3,288,405 | 21.01% | $1,553,487 |
| February 2021 | $7,519,710 | $595,680 | 7.92% | $254,200 |
| March 2021 | $6,666,115 | $965,419 | 14.48% | $482,174 |
| April 2021 | $5,470,520 | $894,231 | 16.35% | $446,688 |
| May 2021 | $7,060,911 | $677,441 | 9.59% | $338,232 |
| June 2021 | $5,958,137 | $644,366 | 10.81% | $321,634 |
| July 2021 | $4,110,581 | $633,084 | 15.4% | $316,107 |
| August 2021 | $5,251,471 | $453,642 | 8.6% | $224,174 |
| September 2021 | $13,702,755 | $3,202,534 | 23.4% | $2,341,630 |
| October 2021 | $22,238,321 | $3,102,694 | 14.0% | $2,319,322 |
| November 2021 | $15,567,067 | $4,567,120 | 29.3% | $3,391,917 |
| December 2021 | $12,638,955 | -$968,520 | -7.7% | -$992,897 |
| January 2022 | $12,637,103 | $1,914,283 | 15.1% | $1,418,276 |
| February 2022 | $5,435,407 | $54,281 | 1.0% | $9,544 |
| March 2022 | $5,157,583 | $552,033 | 10.7% | $55,522 |
| April 2022 | $4,200,298 | $313,266 | 7.5% | $66,638 |
| Total (since launch) | $487,347,188 | $72,391,098 | 14.9% | $47,737,086 |
Sports Betting Dime will update this table monthly with the latest figures provided by the Delaware Lottery.
DE Sports Betting Revenue: Annual Figures
The table below shows Delaware’s annual sports betting handle, gross gaming revenue, and hold percentage, as well as state tax revenue collected since the overturn of PASPA in 2018.
| Year | Total Handle | Revenue | Hold Percentage | State Tax Revenue |
|---|---|---|---|---|
| 2018 | $115,351,865 | $15,652,291 | 13.57% | $10,532,526 |
| 2019 | $132,488,380 | $19,549,751 | 14.76% | $12,614,600 |
| 2020 | $90,242,755 | $17,096,405 | 18.94% | $12,043,312 |
| 2021 | $121,833,797 | $17,258,788 | 14.17% | $10,996,668 |
Delaware’s best annual totals came in 2019, before the coronavirus pandemic. However, the sports betting industry in the First State had its challenges even before COVID-19. The betting handle appears to have plateaued somewhat. Delaware’s best individual month in terms of betting volume was way back in November 2018.
Considering the overall growth of sports betting revenue in America, Delaware’s relative stagnation should be cause for concern. We expect DE lawmakers will soon be prompted to open up online sports betting in order to capture revenue that’s currently flowing out of the state.
Latest DE Revenue News
Here’s a quick breakdown of the latest news from Delaware sports betting revenue reports.
April 2022 – Despite seeing a dip in total sports betting handle through April 2022, Delaware sports betting revenue held strong, coming in at $313,266 in total sportsbook profits.
March 2022 – Delaware sports betting revenue recovered in March, with $552,033 in sportsbook profits from a total handle of $5,157,583.
February 2022 – Sports betting revenue in Delaware dipped again in February after a strong start to the year. Despite major sporting events like the NFL Super Bowl, Delaware realized only $9,544 in state tax revenue from sports betting this month.
January 2022 – Delaware sports betting revenue recovered in January 2022, with $1,418,276 in state tax revenue collected off a 15.1% hold rate. This comes after the state lost nearly $1 million in revenue through December.
December 2021 – After reporting strong revenue numbers a month earlier, Delaware sports betting revenue took a bit of a hit in December 2021. Even with over $12 million in total wagers, sportsbooks saw a $968,520 loss in the final month of the year.
November 2021 – While the sports betting handle in Delaware dipped through November 2021, revenue skyrocketed thanks to a massive 29.3% hold from the sportsbooks. The state collected $3,391,917 in tax revenue through November, one of the highest on record for Delaware.
October 2021 – Delaware continued to see strong gains in monthly betting handle through October, reporting $22,238,321 in total wagers.
September 2021 – The start of the NFL season helped Delaware pull in big numbers through September 2021, as the monthly betting handle figure came in at $13,702,755.
August 2021 – After a slight dip in the month of July, Delaware sports betting pulled in $5,251,471 for the month of August. This figure should increase as the 2021 NFL season gets underway.
July 2021 – The state of Delaware saw their monthly sports betting handle dip to just over $4 million in the month of July. This further supports the projection that Delaware will not match their record annual betting handle.
June 2021 – Delaware’s betting handle drops again in June, down to $5,958,137. Even on a per capita basis, that’s a very low betting volume (just $6.02 per person based on DE’s 2020 Census population). At its current rate, Delaware’s sports betting industry is unlikely to match its record annual betting handle, which was set back in 2019. Conversely, most other states are growing rapidly in 2021.
May 2021 – Delaware reports $7,060,911 in betting handle for May. Of that, sportsbooks kept $677,441 in adjusted gross revenue.
April 2021 – Delaware reports a betting handle of $5,470,520 for the month of April. For context, this is approximately a third of the amount wagered in January 2021, and less than a quarter of Delaware’s peak month way back in November 2018. As sports betting revenue continues to decline, it’s clear the launch of online betting is long overdue in the First State.
March 2021 – Delaware’s sports betting industry struggled again in March, reporting just $6,666,115 in wagers and $965,419 in gross gaming revenue.
February 2021 – Betting volume dips dramatically in February with just $7,519,710 wagered on sports in Delaware. However, it was a rare decent month for DE sports bettors, as the hold percentage dipped below 10 percent for the first time in more than six months. Sportsbooks kept 7.92 percent of the handle after paying out winning bets.
January 2021 – Delaware reports $15 million wagered on sports in the first month of 2021. This is a 40 percent improvement over January 2020 but still far short of the state’s best month: $24,206,090 in November 2018.
Delaware Market Overview
Delaware is a small state. To understand its sports betting market, we must keep in mind some key information.
State Population (2020 Census): 989,948
In-state Pro Teams: None
Launch Date: June 5, 2018
Biggest Monthly Handle: $24,206,090 (November 2018)
Regulator: Delaware Lottery
Platforms: Retail only
Tax Rate: 50 percent
Delaware Sports Betting Revenue Insights
Delaware Governor John Carney holds the honor of placing the first legal sports wager in the United States outside of Nevada.
The First State was quick to legalize and launch sports betting, but it’s been slow to open the virtual doors to online sports betting.
Let’s explore a couple themes that stand out when looking at Delaware’s sports betting financial reports.
Inconsistent Growth
The growth of sports betting in Delaware is stagnant, and unfortunately, 2021 started off in the wrong direction. Sure, the COVID-19 pandemic doesn’t help, and increased competition in the Northeast makes Delaware a small fish in a big pond. However, the main culprit is the state’s slow rollout of online betting options. Simply put, there are huge benefits to allowing online wagers – for sportsbooks, bettors, and state coffers.
Online betting is technically legal in the First State and has been for nearly three years. But, for some reason, it just hasn’t gotten off the ground, and sports betting revenue has plateaued as a result. While other states enjoyed explosive growth in 2020 and show no signs of slowing down in 2021, Delaware’s monthly record for betting handle has stood for more than two years.
Creating an accessible statewide online betting market is the natural next step for Delaware to increase its sports betting revenue. Ultimately, this will benefit bettors in the form of more enticing sportsbook promotions, and more money will wind up back in state coffers.
But Consistently High Hold Percentage
Delaware’s betting handle fluctuates dramatically from month to month, but one thing that remains relatively consistent is a staggeringly high hold rate.
Delaware finished 2020 with the highest annual hold rate in the country. This is not an accomplishment sports bettors should want to see. Delaware’s 2020 hold rate was 18.94 percent – this is more than 2.5 times the national average of 7.18 percent.
A high hold percentage effectively means sportsbooks are keeping more money out of every dollar wagered, and therefore less money is being paid out on winning bets.
In the first 31 months, Delaware reported its sports betting financial figures, the hold rate was only below 10 percent nine times. On the flip side, Delaware’s monthly hold rate exceeded 20 percent six times in that period.
Hold rates are variable by nature and not entirely within the realm of control for sportsbooks or state governments. However, Delaware’s 50 percent state tax rate is undeniably high, and it appears consumers are getting squeezed for some of it. Factors such as bet balance and an inflated vig can drive up the amount that sportsbooks profit. Parlays and futures – both popular in Delaware – typically have more juice built-in, which may increase Delaware’s hold rate as well.
For many reasons, the launch of online sports betting can’t come soon enough for Delaware bettors. Hopefully, the state’s hold rate will start to come down with increased competition in the market.
Learn More About Betting on Sports in the First State
Delaware’s sports betting industry has underperformed thus far, and one has to wonder how much longer it will take for online betting to go live in the state.
Sports bettors would see juicier promotions with an open, competitive online market, and easier access would undoubtedly lead to increased state revenues.
Sports Betting Dime will keep you up to speed with the latest on Delaware sports betting via our state page. To see how the DE market compares to other states, check out our state-by-state sports betting revenue tracker.
Have fun and enjoy the action out there!