Deadwood’s casinos start to see revenue flow from sports betting
By Bob Garcia
The South Dakota city is the home to all of the state’s sports betting activity
October, considered the first full month since the launch of sports betting, was a pretty good period when it comes to winnings at Deadwood casinos. According to South Dakota gaming statistics, at least $815,000 has been wagered on sporting events in Deadwood that month.
These figures seem to have been quite positive after the market officially opened its doors for a full month at Deadwood casinos. There is no doubt that there was exponential revenue growth compared to pre-pandemic levels. Customers in this region now have the opportunity to place their sports bets at the five casinos available. During the past month, the largest share of the market (almost half a million dollars) was wagered on the NFL. The average payout was 87.97% and casino revenue rose to approximately $98,000.
If total casino revenues were compared to 2020 and 2019, an increase of 37.85% and 30.29%, respectively, were reported. September, on the other hand, also had quite a significant contribution, being the first month in which sports bets were placed and registering bets of around $443,000 in person at four locations. To date, in terms of revenue for the year, the combined total for both months is $1.2 million.
“Sports wagering handle surpassed craps handle and came close to matching the combined handle of craps and roulette in October,” Mike Rodman, executive director of the Deadwood Gaming Association, said in a news release.
It’s no secret that sports betting has become an extremely lucrative market over the years, especially during this time when the NFL is entering its most competitive stages.