Despite a 152% increase in gross sports betting receipts, Delaware reported significant player spend decline in July 2023, reports the Delaware State Lottery.
The number of wagers taken dipped 16.4% month-over-month, and below 100,000 for the first time since July 2020, where retail locations were shut due to the global pandemic. It was just a 3% fall year-over-year from 103,046 in July 2022.
The handle received in Delaware for sports wagering was $2,256,345 in July 2023. This is a decrease of 27.9% month-over-month, and a 15.8% decrease year-over-year from. Handle in June 2023 was $3,128,258 whereas it was $2,578,686 in July 2022.
Gross receipts (calculated as handle minus player win) soared 152% month-over-month, up to $311,940 in July from $123,625.in June. Hold for June was just 4.0%, whereas July posted a more impressive 13.8%. Gross receipts year-over-year were down 15.8% from $436,549.
Sports wagering has seen decline across each state in which it’s offered. This is explained by the lack of professional sports and collegiate fixtures during the summer months. September sees the resumption of the NFL, so states would expect a drastic uptick in handle from late August onwards.
In other states where iGaming is legalized, it has often seen growth in the absence of sporting fixtures. Delaware iGaming, however, has not seen the same uptick. Total gross receipts from iGaming were up by $36,000 month-over-month, rising from $1,145,652 in June to $1,181,688 in July. Video Lottery receipts were down slightly, whereas receipts from table games rose 22.8% to $221k from $180k.
Delaware’s iGaming offer is set to undergo significant change soon, with Rush Street Interactive, Inc recently being revealed as the new vendor for Delaware’s online gaming business. The deal between the two businesses has an initial term of five years, with a potential for an additional five years pending regulatory approval.