Lawmakers Are Pushing For Delaware Sports Betting Expansion
Lawmakers in Delaware could move to expand sports betting legislation soon. The Internet Sports Lottery Legislative Working Group submitted a proposal to the Delaware legislature. This would expand online betting, allowing for more sportsbooks to operate in Delaware.
Currently, only Rush Street Interactive (RSI) is permitted to provide online betting in Delaware through an exclusive partnership with the Delaware Lottery. Could the recommendations see changes to the Delaware market?
Delaware Online Sportsbook Expansion Explored
The Internet Sports Lottery Legislative Working Group is a task force created to oversee the online betting market in Delaware. The group was formed to bring its recommendations for the online sports betting market. Lottery officials gave the group until June 2023 to make their final recommendations. With no word from the group, the Delaware Lottery secured an exclusive deal with RSI.
“We are honored to be selected by the Delaware State Lottery selection committee to provide online gaming operations in the First State,” said Richard Schwartz, CEO of RSI. “This partnership is yet another significant milestone for RSI, as the confidence of a state-backed organization, such as the Delaware Lottery, further validates the trust that lottery officials have in our award-winning online platform and customer service.”
The proposal from the group, however, recommends Delaware follow neighboring markets like Maryland, Pennsylvania, and New Jersey. These markets all thrive by hosting the best sports betting sites for their bettors. The group believes that this blueprint is the best option for Delaware.
Revenue A Major Factor In Final Decision
The Internet Sports Lottery Legislative Working Group believes there is more potential revenue available through multiple sportsbooks. A projected $30.7 million in tax revenue within the first five years is the estimate according to Eilers & Krejcik with the multi-sportsbook model. Afterward, an annual $9 million a year in revenue is projected.
With the current deal in place to grant RSI exclusivity, bringing multiple sportsbooks won’t be a simple task. The initial deal in place would need to be altered. This is assuming the Delaware Lottery accepts the group’s recommendations.
Locals could potentially see a slew of sports betting apps go live in the near future.