The expected event rate of lensed gravitational wave sources scales with the merger rate at redshift $zgeq 1$, where the optical depth for lensing is high. It is commonly assumed that the merger rate of the astrophysical compact objects is closely connected with the star formation rate, which peaks around redshift $zsim 2$. However, a major source of uncertainty is the delay time between the formation and merger of compact objects. We explore the impact of delay time on the lensing event rate. We show that as the delay time increases, the peak of the merger rate of gravitational wave sources gets deferred to a lower redshift. This leads to a reduction in the event rate of the lensed events which are detectable by the gravitational wave detectors. We show that for a delay time of around $10$ Gyr or larger, the lensed event rate can be less than one per year for the design sensitivity of LIGO/Virgo. We also estimate the merger rate for lensed sub-threshold for different delay time scenarios, finding that for larger delay times the number of lensed sub-threshold events is reduced, whereas for small-delay time models they are significantly more frequent. This analysis shows for the first time that lensing is a complementary probe to explore different formation channels of binary systems by exploiting the lensing event rate from the well-detected events and sub-threshold events which are measurable using the network of gravitational wave detectors.
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