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Betting Business: More than $2 million in bets made in Delaware during the first full week of March Madness

More than $2 million in sports bets were placed in Delaware during the first full week of March Madness. 

More than $2 million in sports bets were placed in Delaware during the first full week of March Madness.

The number of individual wagers was not immediately available, but between March 18 and March 24, Delaware Sports Lottery took in $2.7 million, state lottery director Vernon Kirk said.

Of that, $2.1 million was placed on basketball games, some NIT but mostly NCAA, he said.

That translates into a profit of roughly $273,300 for the state, its casinos and risk manager/bookmaker William Hill PLC.

The NCAA Basketball Tournament typically attracts more wagering than any U.S. sporting event besides the Super Bowl. This is the first one since all forms of sports betting became legal in Delaware last summer.

In comparison, $3.6 million in bets were placed on the first week of NFL playoff games in January. That month, there were $11.9 million in bets made total, translating into net proceeds of about $1.4 million, according to Delaware Lottery‘s website.

BETTING INCOME: Casino says sports betting profits welcome but marginal during NFL playoffs

Last June, Delaware briefly was the darling of the betting world when it became the first state outside of Nevada to allow single-game wagers on sports.

The new betting rules, made possible by a recent U.S. Supreme Court decision, allow wagers on individual games and events in professional baseball, football, hockey, basketball, soccer, golf and auto racing.

Last Thursday, one Las Vegas man, Todd Link, came to place his NCAA bets in Delaware with a friend from Wilmington.

NO NEED FOR VEGAS: NCAA Basketball Tournament brings bettors to Delaware Park

With 20 television screens spread out in front of 20 round tables, and with more seating available by the windows that face the racetrack, there was ample room.

“It’s not like Vegas but it’s not far behind,” Link said Thursday. “They’ve got all the games on, big screen, so it’s great.”

The only wager Link had made was taking Florida and two points to beat Nevada in a 6:50 p.m. game.

Florida beat Nevada 70-61, before losing to Michigan on Saturday.

MARCH MADNESS

Winners and losers from the NCAA tournament’s first weekend before Sweet 16

Ranking the Sweet 16 teams based on national title ability

Lack of upsets makes NCAA tournament’s Sweet 16 historically loaded

Contact Jessica Bies at (302) 324-2881 or jbies@delawareonline.com. Follow her on Twitter @jessicajbies.


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