MGM Resorts is betting that being involved with sports leagues themselves will be the best way to market. It has deals with the major basketball, hockey, and baseball leagues to be their official. Virginia Rolls Out More Sports Betting Options. Ryan February 3, 2021. Virginia officially launched sports betting on Thursday, January 21, just one day before the launch in. Online Sports Betting at SportsBetting.ag. SportsBetting.ag is your ‘top spot’ for the best in sports betting excitement. No matter what your favorite game might be you’ll find it on the board along with a huge variety of sports and betting options. In an increasingly crowded market, we did a deep dive and analyzed all of the sports betting apps available in Illinois to come up with what we think is the best. There is no shortage of options, including products from DraftKings, FanDuel, William Hill, BetRivers. In-Person Sports Betting There are two ways to bet on sports in-person in Delaware: parlay cards and at sportsbooks. Parlay cards are limited to the NFL and college football but are much more available throughout the state. Sportsbooks, on the other hand, accept wagers on a variety of sports.
In June 2018, Delaware became the first state outside of Nevada to fully legalize sports betting—allowing select locations to start accepting single-game bets. Before that, the Delaware residents could only bet (and still can bet on) on parlay cards put out by the Delaware Lottery, which oversees all sports betting in DE.
Governor John Carney placed the first bet in Delaware at Dover Downs—a $10 moneyline wager on the Phillies to beat the Cubs at +200 (or 2/1 odds). The first bet in the First State paid off, as the Phillies won, doubling the governor’s money.
Below you can find more information about the different ways you can bet on sports in Delaware including where you can find them, what you can bet on, and what may be coming in the future.
There are two ways to bet on sports in-person in Delaware: parlay cards and at sportsbooks. Parlay cards are limited to the NFL and college football but are much more available throughout the state. Sportsbooks, on the other hand, accept wagers on a variety of sports, but are limited to just three locations.
There are currently three sportsbooks available in Delaware including:
Delaware Park Casino
777 Delaware Park Blvd
Wilmington, DE 19804
Delaware Park Sportsbook Review
Harrington Raceway and Casino
18500 S DuPont Highway
Harrington, DE 19952
Harrington Sportsbook Review
Dover Downs Hotel & Casino
1131 N DuPont Highway
Dover, DE 19901
Dover Downs Sportsbook Review
Each of these sportsbooks offers single-game bets, parlays, teasers, and most other traditional types of wagers on professional and college sports including:
- Football
- Baseball
- Basketball
- Golf
- Hockey
- Soccer
- Boxing & MMA
- Auto Racing
You must be at least 21 to bet at any of the above locations. Betters do not need to be Delaware residents to bet but must present a valid form of identification. Read our full reviews to learn more about each of these sportsbooks and our Delaware Sports Betting Laws Guide to learn more about specific rules and regulations.
The second way to bet on sports in Delaware is through parlay cards offered at the sportsbooks mentioned above as well as at various bars and stores throughout the state. Only NFL and college football games are available on these parlay cards, but you can include both professional and college games in a single parlay.
There are a variety of cards available including:
- 1/2 point parlays (traditional lines)
- Teasers
- Super teasers
- Reverse teasers
- $100,000 parlays
Sunday Spread Report: Get an Advantage on Delaware Parlay Cards
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You must be 21 to bet these cards and all cards are due at kickoffs. You can find and submit cards at any of the locations offering them, and if you win $600 or less on a single card, you can collect your money at any of the locations. If you win more than that, you will either have to go to one of the sportsbooks mentioned above or mail your winning ticket to:
Delaware State Lottery
1575 McKee Road, Suite 102
Dover, DE 19904
To see the current odds and payouts on these cards and to learn more about how they work, visit our Delaware Parlay Cards Guide. You can also check out our Sports Betting Guide to learn more about each type of wager.
Currently, there is no way to bet on sports online in Delaware unless you use an offshore sportsbook. Whereas many other states like New Jersey and Pennsylvania allow popular online sportsbooks (like DraftKings and FanDuel) to operate, the Delaware Lottery only allows in-person, single-game betting at the three sportsbooks mentioned above.
Though there is no clear timeline for when online sports betting may be allowed in Delaware, now that the Delaware Lottery has had some time to see how in-person betting has gone, it is likely to be within the next year or two.
As mentioned, there is currently no way to bet on sports in Delaware legally. While we hope that will change in 2020, there are a few ways you can still bet online—you may just have to take a ride.
What do we mean?
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Well, currently most of the states offering online sports betting only require that you be physically present in the state—not a resident of the state. The only states close to Delaware offering online sports betting are Pennsylvania and New Jersey.
So, if you take a drive up across the PA or NJ border, you can place bets on a variety of sports through apps like FanDuel, DraftKings, FoxBet, and more. Note that you usually don’t have to be in the state to register for an account with these sites, deposit money, or withdraw money. You can register in Delaware, deposit money, then place bets whenever you are in the state.
Check our Delaware Online Sportsbooks Guide to stay updated on any new developments with online and mobile betting offerings in DE.
You may have heard of people betting on sports through sites such as Bovada and My Bookie. These are quite popular, but some of these sites have started restricting residents of states with legal sports betting options, including DE, from registering.
It should also be noted that the legality of these sites can be somewhat of a grey area. While it may not be illegal to place bets on these sites, there are laws—such as the Unlawful Internet Gambling Enforcement Act (UIGEA)—that make it difficult to deposit and receive money from these sites.
If you are considering using an offshore sportsbook, we highly recommend proceeding with caution. Be sure to research the legality of any you are considering and read reviews from other users to ensure you are likely to have a good experience.
Sunday Spread Report: Get an Advantage on Delaware Parlay Cards
Every Sunday morning I compare the current NFL lines to the parlay card lines to see where the most value lies. Enter your email below to get it delivered straight to your inbox.
Sports Options Odds
05/18/2020 9:29 am EST
Focus:OPTIONS
Interesting options trade on DraftKings that has a major investor that may allow it to last the current shutdown in sports, writes Jay Soloff.
Gambling on sports has always been popular but controversial in the United States. What once was the sole provenance of casino sports books and those with bad habits and a connection, has become far more widespread in recent years. Many states are have passed legalized sports gaming and many more are expected to adopt it soon.
Even before the debate over online sports gambling became mainstream, there was the debate over daily fantasy sports. Fantasy sports has been a popular pastime in the U.S. (and doubtless elsewhere) for decades. But, daily fantasy sports is a more recent phenomenon, gaining popularity over the last decade or so.
In a nutshell, daily fantasy sports allow customers to “buy” certain sports players on a daily basis, with the ability to win money if those players performed well in their games that day. The big players in the industry are DraftKings (DKNG) and FanDuel. DraftKings recently went public through a reverse-merger, while FanDuel was acquired by a European sports-betting company.
Daily fantasy sports got so popular, with so much money changing hands, that it became a major concern to state governments. States then had to decide if this type of fantasy was actually closer to gambling than fantasy sports. Ultimately, changes were made to the industry to make it more competitive for the average customer.
Moreover, daily fantasy sports became almost an afterthought once the door opened to the potential for legal online sports betting. In fact, DraftKings and other fantasy sites have their own sports betting features in states where it’s legal.
The question is, is DraftKings stock worth buying? Well, George Soros certainly thinks so. It was just disclosed that Soros' fund owns about $70 million worth of the fantasy sports platform’s stock. The news drove the share price to all-time highs and a market cap of more than $18 billion.
Scores Sportsoptions
Options action also appears to be heavily bullish for DraftKings. On the day of the Soros announcement, 90% of the action was considered bullish. The five-day average was 82% bullish. Clearly, the stock has gained some attention.
Looking at the trades themselves, there were several smaller blocks of calls purchased. Most of these trades were short-term in nature, with earnings coming up on May 15.
(DraftKings posted a net loss of $68.7 million (18¢ per share). The FactSet consensus was for a loss per share of 15¢ and revenue of $104 million.)
Sports Bet Deposit Options
For instance, with the stock between $25 and $26, about 1,500 May 15 30 calls were purchased in three blocks.
Glancing at the chart, it's easy to see why investors are excited about DraftKings’ stock. Of course, it helps that Soros is a big buyer of the shares (along with a few other big names from the sports world).
What doesn’t help is that sports—particularly American professional sports and major college sports, have been shut down due to the Coronavirus pandemic. Having a long-term player such as Soros involved is a plus, but the big question is when will sports return and will the typical gamblers have the disposable income to play given the economic hit everyone has taken.
The other red flag (besides the unsustainable exponential stock move and the fact that currently there is no product) is the lack of substantial block trades. Smaller blocks aren't as convincing of a signal as the really big, institutional block trades. Those tend to be in the thousands or tens of thousands.
Still, DraftKings isn't a bad choice for a directional flier. The options are still new, and big players may we waiting for more liquidity. It could also be interesting to see what earnings look like going forward after the company’s recent entry into the public markets through reverse-merger.
Sports Betting Options
Jay Soloff is the Options Portfolio Manager at Investors Alley. He is the editor for Options Floor Trader, an investment advisory bringing you professional options trading strategies, with all the bells and whistles of Wall Street, but simplified so all you have to do is enter the trades with your broker.