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Delaware Sportsbetting Numbers are Disappointing

9/21/09 - Comments by a respected journalist in Delaware's News Journal are receiving wide publicity following the high profile dispute over sportsbetting that has seen the state clashing with the major US sports leagues recently.
 
Quoting official sources, journo Jeff Montgomery has revealed that the first week's betting revenues have been lower than predicted, with Delaware's casinos handling $257 870 in sports wagers on National Football League action.

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And although it is still early days in the new market, Montgomery observes:  "Even without deductions for payments to winners among the more than 14 500 people who placed bets, the total was only a fraction of the weekly average needed to produce the $3 million earnings share forecast for the state general fund when lawmakers approved the venture earlier this year."
 
The state government headed by Governor Jack Markell had originally based its budget-deficit-closing calculations on a year-round, single- and multiple-game wagering regime on a variety of sports. But last month, a federal appeals court barred Delaware from allowing anything more than "parlay" bets on three or more NFL matches, restraining the new venture's capacity.
 
"The first weekend numbers are encouraging," said Joe Rogalsky, a spokesman for the governor. "Clearly we don't have the flexibility that we had hoped for to make it as lucrative as possible."
 
Political opponents were less sanguine, with House Minority Leader Richard C. Cathcart remarking: "If we only have the NFL betting, we're in deep trouble. It's obviously critical that we win at least that part of our argument in the appeal that we're allowed to bet other sports, because that's the only way this thing survives."
 
Responding, Rogalsky said it was a "fair assessment" that a state economic forecasting agency will have to reduce revenue estimates from sports betting when they meet Monday. Court-sanctioned terms would allow betting only during about 20 weeks out of the year.
 
Supporters of the sports betting proposal had predicted full-year state revenues of about $17 million overall, which included $14 million in "crossover" slot machine play attributed to increased casino traffic because of sports betting opportunities.
 
Acting Finance Secretary Tom Cook said the state's three casinos reported slots play did rebound last week after a 5.7 percent decline following the national economic downturn. By comparison, slots receipts were down only 0.3 percent last week compared with the previous year.
 
"Most of the anticipated boost in revenue was going to come from crossover slots play," said House Majority Leader Peter C. Schwartzkopf. "If we picked up 5 percent in the middle of a recession, I think that's a pretty good sign. We just need to continue on."
 
Lawmakers agreed the state would take 50 percent of total receipts after payments to winners and after assigning 15.62 percent of the remainder to a game contractor. Casinos would receive 40 percent and the state's horse racing industry 10 percent.
 
Bill Fasy, Delaware Park's chief operating officer, said in a written statement that sports betting "brought new customers to Delaware Park and significantly increased our traffic over the weekend. As more people learn about this product the greater the potential is for this segment of our business to grow."



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Live Dealer Now At Slotocash - Live Dealer can be found in the left navigation menu under 'Live Dealer' when you, the player is logged in to instant play.

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Betradar Launches US Sports Betting Solutions - With only a few weeks to go until the betting and gambling world descends on ICE in London, Betradar have today announced that they will be launching a comprehensive range of tools and services to any company that will be looking to provide sports betting in a post-PASPA United States.

Abdelaouhab Zizi Wins MPNPT Morocco Main Event - Abdelaouhab Zizi has defeated fellow Casablanca resident Fadhil Farag heads up to win the 2018 MPN Poker Tour Morocco Main Event and MAD 375,000 (c. €33,220) after a two-way deal.

Final 12 For MPNPT Morocco - Sunday on the MPN Poker Tour Morocco will see several trophies awarded at the Mazagan Beach Resort, with the largest going to the Main Event champion along with a prize of MAD 400,000 (c.€35,400).

MPNPT Morocco Updates - Leading the 104 combined survivors from both flights is still Said El-Yousfi with 272,000 chips; visit the MPN Poker Tour blog for an end-of-day recap and full chip counts.

MPN Poker Tour Morocco Day 1A - The MPN Poker Tour has returned to Morocco this week (January 11-14), featuring the MAD 1.5 million guaranteed Main Event, accompanying side events, and the activities and parties for which this tour has now become known on two continents.

2018 MPN Poker Classic - The MPN announces the return of The Classic tournament series this January. The series is back following its successful €350,000 guaranteed debut in 2017. This time €500,000 is guaranteed, along with a once in a lifetime trip to Monaco for the Classic Champion.

PDC and Sportradar Renew Deal - Following this month’s hugely successful World Championship, the Professional Darts Corporation (PDC) and long-standing partners Sportradar have renewed their multi-faceted cooperation that will see the leader in sports data and content continuing in their role as official data

Poker Yaar Joins MPN - Available through download, instant play and mobile, Pokeryaar.com is live with Omaha, Hold’em and Five-Card poker variants, alongside MPN’s Fish Party, the industry’s only progressive jackpot SNGs.

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