Delaware is making more money than predicted from sport betting
Nov 24th, 2009 | By DMS | Category: TweetsReported by Jeremy Tucker
Sports Betting Gives Bump To Harness Racing
Updated: Nov 24, 2009 09:20 PM
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DOVER, Del.- Delaware is making more money than predicted from sports betting.
Acting Secretary of Finance Tom Cook said, as of October, the state had made nearly $500,000 from sports betting since the start of the NFL season. State officials predicted they would make $500,000 over the entire fiscal year.
Dover Downs Hotel and Casino said bets have increased for the past 11 weeks. Secretary Cook said last week 55,000 bets were placed across the state. He said bettors wagered $763,000.
Casinos said they were surprised by the strong start.
According to Edward Sutor, CEO of Dover Downs Hotel and Casino, “We weren’t expecting this at first. But, we are delighted it’s headed in this direction.”
And the popularity of sports betting has had another unexpected side effect. Sutor said more people have also been betting on horse racing.
And sports betting may also be helping to boost revenues generated from slot machines. Secretary Cook said before sports betting began in September, overall revenues from the video lottery were off more than five percent. Now, Cook said revenue is just down slightly compared to last year.
And for bettors, it’s all about the thrill of winning.
“I won the first two weeks, then it was pretty slow. And last week I won $130,” said Donald Jewell.
In an effort to entice more bettors, several new sports betting games were announced last week by the state. Now, with a $5 bet, you have a chance to win $100,000.
“As long as they keep bringing them out, we expect the people to come. We’re glad we have sports betting,” said Sutor.
Sutor said the average bet is just $15 or $20. The latest revenue numbers are due out next week.
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