Rush Street Interactive has activated its agreement with the Delaware Lottery to launch the BetRivers sportsbook and online casino platform in the state.
It follows on from an exclusive partnership that RSI agreed with the state lottery last August, in which it signed a five-year deal to replace 888 as the provider of sports betting and igaming to the state lottery.
The deal can be extended in one-year increments at the lottery’s discretion.
“We are thrilled to begin this historic and much-anticipated launch of the new online sportsbook and casino with the Delaware Lottery and bring our award-winning product to Delaware,” said Richard Schwartz, Chief Executive Officer of RSI.
“With our extensive offering of gaming content, wide range of deposit and withdrawal methods, real-time cash-out approvals, and best-in-class customer service, Delaware customers are going to love the convenience of wagering on their favorite sports, slots, and table games from anywhere in the state.”
The online casino side of the venture will see the relaunch of the Delaware Park, Bally’s Dover Casino, and Harrington Raceway & Casino online platforms, powered by the BetRivers platform.
Meanwhile, the BetRivers online sportsbook will offer players in Delaware wagering options on professional and collegiate leagues, games, and players, including spreads, moneylines, player props, futures, same game parlays.
It is estimated that, under the 888 deal, the lottery was taking around $1.1-$1.2m per month from the venture, however, is looking for more success with its new partner.
“RSI’s successes in other jurisdictions, including neighboring New Jersey and Pennsylvania, are impressive, along with the company’s overall reputation and experience,” said Helene Keeley, Director of the Delaware Lottery.
“RSI’s commitment to responsible gaming, quality products, breadth of gaming content and customer service are key reasons we are so excited to partner with them.”
Securing the contract through a competitive RfP process was seen as a coup internally at RSI. Gaining the exclusive rights to offer betting and gaming in a state with a rich history of online gaming, no matter how small the state is, has been viewed as a massive opportunity.
In its Q3 earnings call, RSI management outlined its excitement to take on the contract and told investors that it won’t take long for the state to be a profitable one for its operations.
Kyle Sauers, CFO of Rush Street, noted that significant marketing spend will be required, but that it will generate long-term gains.
Sauers noted: “The market is pretty small right now. But over time, we think there’s a pretty nice opportunity to expand. It’s not going to happen overnight.
“I would not think about it as some big headwind in 2024 like most markets, it takes a little while to get up and running. There’s some costs associated with that. But like other North American casino markets, that we’ve demonstrated. Delaware, it should get profitable pretty quickly.”
