Delaware Online Gambling Revenue Hits New High at End of Year
Delaware online gambling had an incredibly successful 2021, finishing the year on a very positive note. However, what are the reasons for the success, and what is driving the online gambling industry forward in the Blue Hen State. Follow the link if you want online gambling in Delaware covered in more detail, where you will find information about the gambling laws in Delaware, daily fantasy sport, Delaware online casinos, Delaware poker, and lottery.
You can also read about the interesting history of gambling in Delaware. Here is what happened in Delaware’s 2021 online gambling industry, and what can be predicted to happen in 2022.
New Operators, and Product
The home state of President Joe Biden is no stranger to new and exciting operators joining the thriving iGaming market. These online operators use some of the best software providers in the industry to deliver world-class entertainment packages for online gaming enthusiasts to enjoy, as well as continue to add the latest games.
Some of the latest software providers to enter the US market include Playtech Live games (not available in Delaware yet), NetEnt, and also Europe’s famous LeoVEgas brand (floated on the Stockholm NASDAQ), is now offering its casino aggregator platform via a deal with Caesars Entertainment.
Video lottery is another popular game played at online casinos in Delaware, but there are other up-and-coming products that are gripping fans from all over the state. With such a passion for gaming and the use of modern technologies, players are now getting access to better entertainment than they have ever had access to before.
November, Driven by Video Lottery
November marked a particularly successful month for the state, with online gambling revenues reaching the highest levels so far for the year. $996,639 was the total in November, but what was most notable was that player bets returned to highs not seen since March. Impressively, when you compare the totals year-on-year, you will see a staggering increase of 75.5%. In November 2020, the online gambling revenue total was $568,000. Of the $996,639, video lottery was the biggest contributor, making up for $766,790 of it. Popular online table games contributed $196,488, and the remainder of around $33,000 came from the rakes in poker, and fees. In total, there was $30.1 million in total player spending, a figure that is 83.5% higher than the same month the year before. November was the most successful month for 8 months, since the $30.7 million that was wagered in March.
2021, A Record Year
2021 was nothing short of great success for the online gambling industry in Delaware. According to the Delaware Lottery, the industry grew 26.2% when compared to the figures from 2020. This kind of growth is simply remarkable, and the industry as a whole is looking in a very promising position. The industry relies heavily on technology as demonstrated by the fact that custom apps are proving popular for businesses. Technology is improving year after year and will continue to drive the industry forward. To the delight of the industry, player spending also showed a dramatic increase of 35%.
Operators offer more entertainment, and so players are spending more money. For the whole year of 2021, the revenue for the industry totaled $10.6 million, this figure compares to $8.6 million for 2020. Consumer spending in the state also climbed to new levels, with $308.8 million generated, compared to the $228.7 million that was seen in 2020.
A Bright Looking 2022
If 2021 is anything to go by, then you would be well within your rights for thinking that 2022 will be yet another incredible year for online gambling in Delaware. Delaware is thriving as a corporate tax haven, and businesses are reaping the rewards. The online gambling industry is right there at the head of the pack, as it is capitalizing on such a rich industry.
These figures will make plenty of other operators take notice of a potential market for gaming. Online gambling operators are always looking for emerging markets, this is so they can build a strong customer base using a relatively untouched market.
The more operators that join the race, the more competition will increase, and operators will be forced to offer a bigger and better product to attract custom. With a better product, more customers will use the services, meaning that online gambling revenue will certainly increase.