Others may look uphill at William in Delaware
June 12, 2018 3:00 AM
by Scott Schettler
Delaware was in a rush to be first out of the gate to offer newly sanctioned, single game, sports betting. They had the infrastructure in place since they’ve been taking computer generated NFL leaning parlay cards for a number of years now.
Luckily, they have William Hill handling their sports wagering risk management through its contract with Scientific Games, the company that runs the Delaware State Lottery, which is in charge of the expanded betting menu.
They hold about 25% of their parlay card handle but this is a different animal. Now action must be monitored and lines moved correctly. William Hill is more than capable of doing this for the State of Delaware.
If the tax structure, various rakes and partners are all in agreement and realize the low hold in sports bookmaking, forgetting parlay cards, they have a chance. I believe they have a dime ($1,000) limit before getting approval to take more. I’m certain William Hill will want those limits raised shortly.
At this early unveiling I’m not aware Delaware will have their own numbers according to their action or if they will simply be an extension of the Las Vegas hub. A successful BM will set his limits where he can get two-way action.
I’ve followed the evolution of this expansion into sports betting for quite a while and have yet to hear the word “lose” mentioned. All the newfound experts mention is the millions and billions of dollars involved. It’s all rosy say the experts, most of whom have never taken a bet or even made a laydown. Hint to sticky fingered politicians: It’s gambling and you can lose a state’s bankroll big time.
Don’t let the state be the banker, let private business handle it, simply count the beans and then tax it. But don’t tax them out of business.
As for the arrogant leagues, players and the “integrity tax”? Don’t cut them in unless they agree to be in on the losses as well. Then they’ll make every effort to make sure it’s all on the square.
I envision sportsbooks springing up in different venues around the country. They’ll be like the old Las Vegas books I remember till they try to outdo Vegas. In the meantime, they’ll have loyal customer bases of sports bettors who just want to bet regardless of the amenities.
Take care all.