South Dakota’s gaming industry is growing at a record pace, and players from Iowa are certainly contributing to that growth.
In September, South Dakota’s total gaming handle reached $109.3 million, which is 7.81% higher than in April 2022. Taxable adjusted gross revenue in September was $9.5 million, resulting in the state collecting around $859,000 in taxes.
For the first four months of 2023, the total gaming handle in South Dakota is $466.2 million, which is a 0.22% increase compared to the first quarter of 2022.
It is not a coincidence that the increase in gaming numbers in South Dakota is closely tied to the continued growth of gaming in the city of Deadwood. New casinos have emerged in the city over the past year, bringing the total to over half a dozen establishments that offer gambling.
Wagering, slots and even table games every see will increase in The spring
Mike Rodman, executive director of the Deadwood Gaming Association, expressed satisfaction with the increase in sports betting numbers in April. He highlighted that sports betting grew by 33% compared to April of the previous year, and he was pleased to see this continued growth. Currently, there are nine properties in South Dakota that offer sports betting, providing ample opportunities for people to engage in wagering on their favorite sports events.
In April, sports betting saw an impressive year-over-year growth of 33.8%. A total of $493,000 was wagered on sports in South Dakota during that month, bringing the total for the season to $3 million, which is a 6.27% increase compared to the previous year.
However, it is important to note that South Dakota’s sports betting market is relatively limited compared to Iowa. Players can only place bets in Deadwood or a few tribal casinos in South Dakota, and online betting is prohibited unlike in Iowa. These factors could significantly impact the amount of revenue the state can generate from sports betting. In comparison, Iowa’s average monthly betting handle is around $200 million, which is over 500 times higher than South Dakota’s.
Activities bettors inside South Dakota favor MLB in The spring
Rodman informed the Brookings Register that MLB betting played a significant role in sports wagering in the Mount Rushmore State. He expressed particular satisfaction with the impressive numbers in April, which were driven by Major League Baseball. The performance in April has resulted in a 3.22% year-to-date increase compared to the previous year, putting South Dakota on track for its most successful year ever.
During April, MLB was the most popular sport to bet on in South Dakota, surpassing the NBA and college basketball by a wide margin.
- MLB: $226, 000
- NBA: $107, 1000
- NCAA men’ s baseball: $63, 1000
Slot machine handle also went up from April 2022, by 7.88%. In total, $102 million was wagered on slot machines in April. Table games saw a 4.26% increase year-over-year in April, with a total handle of $6.6 million.
Deadwood’ s revitalization a big take into account state games growth
Rodman pointed to Deadwood’s growth in gaming as a factor behind the successful numbers in April.
“2023 has been a strong year for Deadwood gaming.”
And Deadwood’s gaming future looks bright.
A new Hard Rock Rocksino in the city will have its grand opening on August 8. Hard Rock is the first major player in the gaming industry to bring a destination casino to Deadwood, which should shake things up quite a bit.
There is also a new operator of the Silverado-Franklin Historic Hotel and Gaming Complex in Deadwood. The owners will likely look to renovate the property in the future.
This follows two historic hotels that were purchased in 2021 and are being renovated, the Bullock and Hickock’s.
T.T. McBride is a Denver-based NBA and Denver Nuggets reporter and a regular contributor to MileHighSports.com. He brings his in-depth sports and betting knowledge to his coverage of the legal gambling industry across regional sites at Catena Media.
