Deadwood casinos post $815K sports betting handle in Oct., first full month since launch

About $815K has been bet on sporting events on Deadwood during the month of October, according to gaming statistics for South Dakota. The figures correspond to the first full month of sports wagering at Deadwood casinos, which saw significant revenue growth as compared to pre-pandemic levels.

Five casinos in the region are now allowed to offer sports wagering to their customers. During October, most of the handle, nearly 500K, was bet on NFL. The average payout was 87.97%, and casino revenue amounted to $98,000.

October’s numbers put 2021 total casino revenues up 37.85% over 2020 and up 30.29% over 2019. 

In September, the first month in which sports betting was conducted in Deadwood casinos, about $443K was bet in-person at four venues, reports KELO. In terms of year-to-date revenue, combining both months reports a total handle of $1.2 million.

During last month, most bettors opted for NFL and college football as their favorite betting options. MLB placed third, followed by NBA and then soccer, rounding up the top five.

“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. While sports betting posted a handle of $815K, craps reported $561K and roulette $343K.

The first legal bet in Deadwood was placed last month. Rules state South Dakotans are unable to place wagers outside Deadwood city limits, and sportsbooks must be added onto existing casinos. Bettors are able to bet on college teams from other states, but not their own. While some casinos have already launched operations, others are expected to go live soon.

Sports betting is also expected to expand into new offerings, including NCAA basketball in December. Gamblers will also have more options in terms of international sporting events starting that month.

The 22 days of sports betting during September were enough for Deadwood’s gaming industry to post higher revenue last month. A roughly 14% increase in total gaming was reported last month, while hotel occupation and food and beverage sales were also up.