Hoping to whet the appetite of sports gamblers, Delaware kicked off pro football betting today—a full month before the regular season of the National Football League kicks off on September 9. Patrons at the state's three racetrack casinos now can wager on preseason NFL games.
The state and its racinos do not expect preseason betting to be a big revenue generator. Vernon Kirk, deputy director of the Delaware Lottery, anticipates only "modest wagering." But he sees value in getting bettors warmed up now.
"Maybe it will get the juices flowing. Maybe they won’t bet a lot during preseason, but it will get them in the mood, make them aware, and maybe get them excited,” said Kirk.
Andrew Gentile, chief financial officer of Delaware Park, agrees.
“Conservatively, you don’t expect a lot of volume preseason," Gentile said. "My feeling was we only have a limited number of weeks. We might as well start it as soon as possible and make everyone aware that it's back.”
For making legal NFL bets, Delaware is the only game in town: It is the only state east of the Mississippi and only one of five states nationwide with legalized sports betting.
Last August a federal appeals court limited sports betting in Delaware to parlay bets on NFL games. Bettors are not allowed to wager on individual games. To win a wager, they must pick the winning teams in 3 to 10 game groups, and all selections must be correct.
Earlier this year, the state asked the United States Supreme Court to hear an appeal of last summer’s decision by the U.S. Court of Appeals for the Third Circuit that rejected Delaware’s plan to offer a wider array of sports betting, including single game bets and wagering on other sports. The high court denied the request.
In its first year, NFL parlay betting netted the state nearly $1.6 in revenue, far exceeding projections of only $500,000 annually.
"I don’t think anybody anticipated when it just became parlay that there would be that level of interest," said Gentile. "We’re really looking forward to [sports betting] this year."
Betting on preseason games differs from regular season wagering, because for the teams, winning is not always a priority in the early games. Coaches often keep top players off the field to avoid an early injury, and take close looks at players trying to make the team. Preseason point spreads tend to be “very volatile,” according to Kirk.
[caption id="attachment_1750" align="alignleft" width="150" caption="Preseason Rules and Odds Card. Click to view full size."]https://www.wdde.org/wp-content/uploads/2010/08/Preseason-Bubble-Card-1-150x150.jpg[/caption]
With that in mind, the state is paring down the betting options offered in the preseason. The racinos do not have the weekly betting cards used during the regular season. Bettors simply create parlays based on current odds. The racinos receive fresh point spreads each day to print for use by bettors, or bettors can use the latest betting line on electronic boards at each racino.
“That is generally the difference: We send the sheet once a day, and they print it and make it available. And it changes, or could change, everyday. In the regular season, the parlay card is static and does not change,” Kirk said.
The volatility of betting lines also means the state will not offer its teaser and super teaser cards. Those cards allow bettors to change the point spread to improve their chances of picking winners, but they lower the amount a successful wager pays.
[caption id="attachment_1749" align="alignright" width="150" caption="Week 1 Preseason Parlay Card. Click to view full size."]https://www.wdde.org/wp-content/uploads/2010/08/Week-1-Preseason-Parlay-Card-150x150.jpg[/caption]
“The point spreads are basically a science by the risk managers, and there are just too many unknown factors that go into the preseason games for them to offer some of these other cards, like the teasers," said Kirk. "It’s just too much of a risk.”
The teaser and super teaser bets will return in the regular season, alongside a new product the state and racinos are rolling out: a handicapping contest that allows bettors to compete against each other.
“You pay a fee up front and then make a certain number of selections throughout, and whoever has the most correct selections wins the contest,” said Kirk. "It looks like one of the few ways we can spice up the action. Hopefully it will be a success. Of course, the idea is to get people back each week.”
The contest also breaks up the season up into four sections and will offer prizes for winners of each “quarter.”
[caption id="attachment_1748" align="alignleft" width="150" caption="Week 1 Regular Season Parlay Card"]https://www.wdde.org/wp-content/uploads/2010/08/Pro-Football-Week-1-150x150.jpg[/caption]
Gentile says preseason betting offers the opportunity to promote the new handicapping contest. “We want to get everybody introduced to the tournament before the regular season starts.”