Delaware’s single-operator sports betting market remains one of the few in America, with lawmakers not taking up a bill to expand the regulated market. Since June 2018, when Delaware accepted the first legal single-game sports bet outside Nevada, the state has maintained a de facto monopoly under the state lottery, now managed by Rush Street Interactive’s BetRivers.
While the industry has largely supported competitive markets with multiple licenses available, corporate realities have shifted priorities and led to the consolidation of the market around a handful of major operators like FanDuel, DraftKings, BetMGM, and Caesars, who hold an estimated 75-80% market share nationally.
Despite initial enthusiasm from various operators, many have since shuttered their sportsbooks due to tough competition. Smaller companies like bet365 and BetRivers have managed to maintain market share, while new entrants like Fanatics Sportsbook are trying to capitalize on their brand strength.
Looking ahead, Washington, D.C. is set to launch a competitive market later this year with up to seven operators, and Missouri voters could approve a new sports betting market that allows several dozen sportsbooks to operate. However, it remains to be seen how many of these licenses will be used, given the challenging landscape of the sports betting industry in the U.S.
In conclusion, Delaware’s single-operator market is a unique anomaly in a landscape that has shifted towards more competitive markets with fewer licenses available. As the industry continues to evolve and consolidate, new entrants face challenges in gaining market share and staying power against the dominant players in the market.
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