A bill to expand Delaware’s number of sports betting operators has been tabled this session which means BetRivers will remain as the only iGaming and mobile sportsbook operator in the state.
Bill to Add Operators Tabled
Despite glowing success with BetRivers after it replaced a dismal 888 Holdings as Delaware’s sole iGaming provider, Rep. William Bush introduced House Bill 365, which would expand the mobile sports betting market with the three casinos – Delaware Park, Harrington Casino, and Bally’s Dover – permitted up to two platform providers apiece.
Representative Bush’s bill would impose a $500,000 five-year initial license fee with an 18% tax rate on adjusted gross revenues. An additional 1.5% of sports betting revenue would fund the state’s horse racing purses. Representatives from BetMGM, DraftKings and FanDuel were present at the hearing to support the initiative.
The bill was brought after a study commissioned by the state and introduced by Representative Frank Cooke concluded that more operators in the Delaware market would bring increased revenue for the state. However, Bush’s market expansion bill was not heard during the last day of the legislative session but could be heard when the legislature reconvenes.
BetRivers Upped Delaware’s Game
BetRivers launched its iGaming and mobile sports betting platform on January 3rd of this year, replacing a lackluster 888 Holdings as the Delaware Lottery’s exclusive iGaming and sports betting operator. Before BetRivers, 888 Holdings had the exclusive rights to iGaming but had not launched a sports betting platform. BetRivers brought its expansive library of online casino games to the market and also launched the state’s first mobile sports betting platform.
Rush Street Interactive, BetRivers’ parent company, signed a five-year deal followed by five successive one-year agreements for a maximum of 10 years as the Delaware Lottery’s digital gaming partner. It should also be noted that BetRivers was the lone bidder to replace 888 Holdings and was chosen as the replacement in August 2023 before a soft launch in late December.
Helene Keeley, director of the Delaware Lottery, said in an August press release, “Rush Street Interactive has established itself as a leading innovator in the industry, and is a respected iGaming and sports betting company. We are impressed not only with RSI’s successes in other jurisdictions, including neighboring New Jersey and Pennsylvania but also its strong commitment to responsible gambling practices.”
BetRivers’ Success and Impact
To put in context how successful BetRivers has been during its short reign as Delaware’s exclusive digital gaming provider, the Illinois-based operator generated $52.6 million in virtual slot play while online table games added $50.7 million for a total of $103.4 million in total for January, its first month in operation.
The $103.4 million in iGaming activity was over 36% of what 888 Holdings did in all of 2023 generating a yearly handle of $287 million. January’s handle produced a state monthly record of $3.8 million in gross revenues and adjusted gross revenues of $3.4 million.
“We’re excited to finally be able to have the citizens of Delaware be able to place a sports bet on their phone if they so choose, and also we’re actually even more excited that the iGaming is part of the product as well,” said Keeley.
