Hello everyone,

It’s official.  Next  Tuesday afternoon, Delaware is likely to be the first state to get out of the gate for sports betting.

Delaware was ready for this change when the Supreme Court overturned a law banning sports betting outside the state of Nevada.

The impact on the state’s struggling casinos will be modest and should not be an excuse for shelving legislation that would trim the state’s high taxes on casino proceeds.

The high “revenue sharing” rate is eroding the financial health of the industry that employs thousands in the state. Many of the workers reside in Kent, which by many accounts,  has the weakest economy of Delaware ’s three counties.  

Pennsylvania, Maryland, and New Jersey won’t be far behind in setting up sizable sports book operations.  Like Delaware,  the trio of competitors was fairly certain the law would be overturned.

There had been some hope in Delaware that the high court’s decision would be narrow in scope and perhaps give the First State an advantage over some of its neighbors.

Finally, expect to see lobbyists from professional sports leagues descend on  Dover.

The massive incentives given by cities for pro teams won’t be enough for leagues that will also demand a piece of the sports gaming action.

One downside will be the lure of sportsbook   for those with a tendency to bet over their heads.

Of course, bookmakers have been dealing with that issue for years by offering “credit” for bets. The state sports book is cash only, although there are plenty of ways to tap out the cash advance feature on credit cards.

Have a great weekend. The newsletter returns on Monday. – Doug Rainey, publisher.