In a noteworthy development, the Deadwood Gaming Association has reported a historic milestone, revealing that Deadwood’s sports betting handle exceeded $1 million for the first time in October. This surge represents a 19% increase compared to the same period in 2022, with approximately half of the wagers placed on professional football. Concurrently, the spend on casino gambling reached $132.38 million, reflecting a slight decline year-on-year.
Sports Betting Success:
October marked a significant achievement for Deadwood as the sports betting handle surpassed the $1 million mark, indicating a growing interest and participation in this segment. Players engaged in bets totaling $1.02 million, showcasing a substantial 19% uptick compared to the same period in the previous year. Notably, a substantial portion of these bets was directed towards professional football, underscoring the popularity of this sporting category among Deadwood’s gaming enthusiasts.
Casino Gambling Overview:
While sports betting experienced remarkable growth, the overall spend on casino gambling in Deadwood during October amounted to $132.38 million, indicating a marginal decrease from the previous year. A detailed breakdown reveals that players invested $123.72 million in slot machines and $7.63 million in table games. Despite the slight dip in overall spending, casinos managed to retain approximately $12 million after paying out winnings. Furthermore, the tax contributions to state and local governments in Lawrence County reached $1.11 million, highlighting the economic impact of the gaming industry on the region.
Deadwood’s Exclusive Gaming Territory:
It’s essential to note that Deadwood stands as the solitary territory in South Dakota with legal gambling operations. Since the legalization of sports betting in 2020, the city has witnessed a steady increase in activity, contributing to the overall vibrancy of its gaming landscape. However, a unique stipulation requires players engaging in sports betting to be physically present at a Deadwood casino, adding a distinctive element to the city’s gaming dynamics.
The October gaming statistics from Deadwood not only showcase a historic achievement in sports betting but also provide valuable insights into the broader gaming landscape. The city’s exclusive status as the legal gambling hub in South Dakota, coupled with the continuous growth in sports betting, positions Deadwood as a focal point for gaming enthusiasts. The economic contributions, evident in tax revenues and casino earnings, underscore the significance of the gaming industry in supporting local and state finances. As Deadwood continues to evolve as a gaming destination, these statistics serve as a testament to the resilience and adaptability of the city’s gaming sector.