Thanks to a legislative loophole, Delaware is one of only four states allowed to license legal sports betting. In a few months, you may be able to get action down legally in the Diamond State–with a few caveats. From the Philly Inquirer:
Atlantic City’s hopes of a gaming-industry rebound in 2009 might be about to take another hit, this time from a southwesterly direction.
When Delaware Gov.-elect Jack Markell and a new General Assembly take office next month, the legalization of sports betting is expected to be high on their "to-do" list. State lottery director Wayne Lemons said that with legislative approval, sports betting could be in business by the summer.
This, said one gambling-business analyst, certainly wont make things easier for Atlantic Citys 11 casinos, which have been reeling from the double-whammy of a trashed economy and increasing competition from Pennsylvania slots parlors.
However, suggested Joe Weinert, senior vice president of Linwood, N.J.-based Spectrum Gaming Group LLC, the blow probably will be more glancing than fatal.
"It will definitely be a negative for Atlantic City," said Weinert, especially among male customers. Sports betting, he offered, "will give them another excuse to gamble in Delaware."
As a result, he added: "It will be another dent in Atlantic Citys armor," but probably not severe enough to make an appreciable difference in the seaside casinos bottom lines.
That, Weinert said, is because of the nature of what is being proposed for Delaware. Unlike in Nevada, gamblers wont be able to place a bet on a single sporting event.
Instead, he said: "Youll have to place a parlay bet – a minimum of two bets. You can bet the Eagles to win by seven [points], but you also have to bet [on something like] Brian Westbrook rushing for 100 yards."
The lottery might have trouble running sports betting. Nevada casinos can do it because they have the rest of the gaming floor to carry them if bettors get lucky–like if the Giants win the SuperBowl. But what’s the lottery going to do? Go to the schools and ask them for money back?