Delaware Expands Betting Market with New Legislation Progress

Delaware has made its betting industry larger by passing new laws.

More people in Delaware are betting on sports as the government looks to grow the betting industry. A new law, House Bill 365, was introduced to make online betting better. Earlier, the Delaware Lottery started its own online sports betting with help from Rush Street Interactive and BetRivers.

Key Features of House Bill 365

• Allows each Delaware racetrack to partner with up to two betting operators.
• As many as six new online operators could enter the market.
• Licensing fee set at $500,000, with a five-year validity.
• Online betting revenue to be taxed at 18%.
• Additional 1.5% revenue charge to support the Delaware horse racing industry.

It is expected that the new law will increase the state's tax income, and it is estimated that by 2025 the revenue could be more than $186 million.

Increase in Gambling Income and Total Amount Bet

In April, people in Delaware spent $15.5 million on sports betting, which is four times more than what they did last year. Although this was a bit less than the $18.9 million spent in March, it still shows that sports betting is becoming more popular. The money made from sports betting in April was $1 million, the same as in March and much more than last year during the same time.

Delaware Park is the most successful gambling spot in the state, with Harrington Raceway and Bally’s Dover coming in second and third. Additionally, people betting on sports at physical stores across Delaware have brought in more than $86,000.

Remarkable statistics from internet casinos.

In April, the money made from online gaming was $4.4 million, which is close to what was made in March and more than twice as much as the same time last year. The top earners were Delaware Park, Harrington Raceway, and Bally’s Dover, all of which have recently started new online services. There was a lot of betting on virtual slot machines and card games, with total bets being almost $134.5 million.

The Future of Gambling Laws in Delaware

It's not clear when House Bill 365 might start to have an impact, but it is moving forward in the committee responsible for government spending in Delaware. This bill is designed to bring in more money in taxes by adding new companies to the betting market and improving online sports betting.

Money is increasing in this area, showing good potential for the government and people who place bets. If House Bill 365 is passed, it could really change how betting works in Delaware.