Delaware iGaming Revenue Reaches New Levels Thanks to BetRivers
LISTEN TO THIS ARTICLE:Since transitioning from 888 Holdings to BetRivers, Delaware's online casino industry has undergone major transformations. Recently, the Delaware Lottery unveiled the first set of iGaming figures post-switch, and the outcome was nothing short of remarkable.
Delaware iGaming Back on Track
In January 2024, BetRivers brought in $3.4 million in net profits for the Delaware Lottery. This figure is nearly triple the state's usual monthly earnings, and is a significant turnaround in recent years after a long period of underperformance.
In 2013, Delaware became the trailblazer by establishing the first legal online casino in partnership with 888 Holdings. Despite this achievement, the state's per capita income has fallen short when compared to neighboring New Jersey, who followed suit with their online casinos shortly after. Furthermore, Delaware typically experiences a decline in its annual growth rate, particularly in the latter part of 2023.
Related: Delaware Reports Sports Betting Up but iGaming Down in OctoberAfter the 10-year partnership with 888 Holdings expired, the Lottery sought out new proposals for a partner. Rush Street Interactive (RSI), the owner of BetRivers, was the sole respondent and secured the contract. RSI now manages all three online gambling sites in the state, offering a variety of casino games and sports betting for players.
Despite changing to BetRivers, online poker is now temporarily off the table. 888 Holdings provided the technology for the US branch of WSOP, which will no longer be available. That will change at some point. RSI is almost ready to introduce Run it Live Poker in the US, although the launch is still pending.
Extensive Growth Likely
Delaware's online casino market has experienced a resurgence with the transition to BetRivers, overcoming obstacles along the way. While it may not have seen the same rapid growth as New Jersey, the switch in operators has positively impacted revenue for the industry.
Delaware stands out in various ways thanks to its special market characteristics, such as its small population, being the sole state to offer online casinos without sports betting, as well as being the exclusive iGaming operator until Rhode Island entered the market in March. Due to these distinctive features, making direct comparisons between Delaware and other states proves challenging.
By comparing BetRivers' impact on Delaware funds to New Jersey's growth in the last ten years, it is evident that the changes have brought the funds closer to the potential they would have reached if the market had expanded like New Jersey.
More Finance News
RELATED TOPICS: Finance
Latest News
Responsible Gambling
Parlays, Pressure, and Addiction - The Risks of Modern Sports Betting
Dec 20, 2024Most Read
Must Read
Interviews
When Helping Others Is a Life-Long Mission - An Interview with Gordon Moody CEO, Monica Shafaq
Dec 17, 2024
Interviews
Review this New Post
Leave a Comment
User Comments
Comments for Delaware iGaming Revenue Reaches New Levels Thanks to BetRivers