Posted on: July 3, 2024, 02:07h.
Last updated on: July 3, 2024, 02:07h.
Rush Street Interactive’s BetRivers sports betting platform was dealt a winning hand in Delaware over the weekend when the state’s General Assembly adjourned for the year without passing legislation that sought to end the sportsbook’s monopoly.
House Bill 365 was introduced in April by state Reps. Franklin Cooke (D-District 16) and William Bush (D-District 29). The bill proposed allowing in five additional online sportsbook platforms.
BetRivers acquired Delaware’s exclusive retail and online sportsbook license when it was the lone bidder for the opportunity presented by the Delaware Lottery. 888 Holdings had previously controlled the sports betting concession but exited the state last year.
Cooke said there was “substantial consumer demand” for more online sportsbooks. The state lawmakers additionally reasoned that competition would ensure that bettors received better odds as opposed to a single book controlling the market.
HB 365 was directed towards the House Appropriations Committee where it failed to gain a vote in support of expanding the Delaware sports betting scene.
Online sports betting began in Delaware with BetRivers’ takeover of the lottery permit. The Delaware Lottery agreed with RSI to allow online bets to make the partnership more attractive and to grow the market. Online betting is the preferred wagering method of sports bettors in states where online and in-person sportsbooks are allowed.
Live Casino Games Arrive
BetRivers’ partnership with the Delaware Lottery also provides the firm with exclusive rights to iGaming — online casino slot machines and table games.
BetRivers launched its online casino platform in December in conjunction with the state’s three racetrack casinos — Bally’s Dover Casino Resort, Delaware Park Casino, and Harrington Raceway & Casino. Each casino offers slot-like video lottery terminals on the state lottery’s behalf. The Delaware Lottery receives 38% of the gross VLT revenue and 15% of the table win.
BetRivers struck a deal in March with Evolution, the business-to-business iGaming industry leader of live dealer table game operations. Evolution’s live dealer table games went live on the BetRivers online casino sites this week.
BetRivers in Delaware is thrilled to offer players the chance to virtually play on Evolution’s world-renowned live tables,” said Rush Street Interactive CEO Richard Schwartz. “We are confident that the live dealer online casino will be very popular as the live dealer games offer the same level of excitement as playing in a land-based casino.”
Evolution is using its studio in New Jersey to stream live dealer table games to online casino players in Delaware. The BetRivers iGaming site offers live dealer games for blackjack, roulette, craps, three-card poker, and Ultimate Texas Hold’em.
Market Realization
Delaware was one of the first states in the U.S. to allow sports betting and iGaming. But it’s only now that the state is beginning to realize the full benefits of such gaming.
BetRivers has managed to grow monthly gross gaming revenue exponentially compared to 888. The introduction of online sports betting has helped tremendously, as tens of thousands of new online gaming accounts have been registered primarily to place remote wagers on sports.
Before online sports betting arrived, the 888 iGaming platform averaged less than 400 new account registrations a month. In January, the first full month with BetRivers running things, the platform facilitated about 16,400 new account registrations. It added 3,399 in February, 2,239 in March, 2,412 in April, and 2,072 in May.
Anyone aged 21 and older physically located in Delaware can sign up and gamble online. Delaware’s nearly 400 miles of beaches are popular summer vacation destinations, meaning June, July, and August could be high tide for new account registrations this year.