Delaware Becomes First State to Start Full Scale Sports Betting
Delaware has become the first state, outside of Nevada, to start full-scale sports betting since the federal ban was overturned. On Tuesday afternoon, the state governor, John Carney, got the honors of placing the first wager. Many probably expected New Jersey would be the first, considering the state was the driving force behind the repeal, but Delaware has managed to beat them.
Governor Places First Sports Bet in Delaware
The state’s governor placed the first sports bet wager, betting $10 on the Philadelphia Phillies to win in their game against the Chicago Cubs. The Phillies went on to win, 6-1, so at least the first state’s first wager had a happy ending. Delaware’s three casinos, Dover Downs, Delaware Park, and Harrington Raceway, saw people lining up to place bets on the first day it was legal. Last week it was determined that no additional laws needed to be passed to allow for casinos to expand their sports betting operations.
While Nevada has been the only state to offer full sports betting, Delaware was one of the few other states that had some form of sports betting allows. When the Professional and Amateur Sports Protection Act (PASPA) was signed in 1992, it prevented states from passing any new laws related to sports betting. However, if a state already had laws passed, these were allowed to stand. Delaware had already regulated parlay betting on professional football. This is a form of sports betting where players bet on two or more games. But to win, they needed to successfully pick all the games correctly.
Could PASPA Repeal be Bad for Delaware in Long Run?
While the repeal of PASPA has paved the way for wagering on sporting events, some are concerned that it could be bad for the state od Delaware in the long run. It is believed that around 40% of all parlay bets were placed by visitors to the state. Presumably, this will begin to stop as more states legalize sports betting.
In addition, parlay betting is far more profitable for the house. The win rate is around 30%, compared to just 5% for traditional sports bets. Only time will tell how this all turns out for Delaware and the new sports gambling market in general.