DEADWOOD, S.D. (KELO) — Broken down by 22 days, it’s about $20,000 a day bet on sports in Deadwood in September.
According to the Deadwood Gaming Association, $443,365 was bet in person on sports at four casinos.
Legalized sports betting started on Sept. 9. The gambling total was for the 22 days of legal sports gambling.
Football drew the largest share of the bets, according to the Deadwood Gaming Association.
Bets on the NFL totaled $277,014.69 while NCAA football bets totaled $131,348.60. Eleven dollars was bet on the WNBA.
The NFL betting totals show why Deadwood wanted to get sports betting up on Sept. 9, said Mike Rodman, the executive director of the Deadwood Gaming Association.
The American Gaming Association said on Sept. 7 that a record number 42.9 million Americans are expected to bet on the NFL this season.
The state and city of Deadwood are using an Oxford Economics Study that projects an estimated $6.1 million in direct revenue that would be generated by sports betting.
The study said another $22.1 million in overall gaming revenue would be generated, Rodman said.
The four casinos collected $71,000 in revenue also called the casino win, Rodman said.
Deadwood is “well on its way” to generating that $6.1 million, Rodman said.
If the casinos draw only $443,365 per month that would generate about $5.3 million in bets over a year. But more casinos will be added to the sports betting list, Rodman said.
A fifth one was added this week, he said.
Sports betting will also expand to NCAA basketball in December. “We really didn’t do many international sports events…,” Rodman said. Gamblers will have more options on those international events in December, he said.
The state will collect a 9% tax on gaming. One percent of that 9% will go directly to the state’s general fund, Rodman said in a Sept. 9 KELOLAND News story.
The state gaming commission will subtract expenses from the remaining 8% which will still leave revenue to be split between several entities.
Once the state gaming commission subtracts its expenses the remaining revenue is split as follows: 40% to the state tourism department, 10% to Lawrence County and 50% to the Deadwood Historical Preservation Commission with the city of Deadwood. Once the Deadwood commission receives $6.8 million, the split formula changes to this for what remains: 70% goes to the state’s general fund, 10% to other municipalities in Lawrence County, 10% to school districts and 10% back to the Deadwood commission.
Penny slots were still the most attractive gamble in Deadwood. Gamblers spent $113,991,337.83 in penny slots. The statistical win payout total was $10,288,249.74 at an average payout of 90.97%. Gamblers have 2,041 penny slot machines from which to choose.
There are 207 $1 machines that collected $13.1 million in bets. The statistical win was about $975,000.