Washington DC’s sports betting handled increased by more than 30% in March compared to the previous month, and revenue was also higher.
In March of this year, DC received $15.7m in wagers (PS12.6m/EUR14.7m), which is 30.8% more than the $12.0m placed in February. In March 2023, DC had taken in $18.1m (PS12.6m/EUR14.7m) in sports wagers. This was a 13.3% decrease from the previous year.
DC’s sports betting revenues also increased to $1.4m, up from $1.2m in February. This, too, fell short of last month’s $2.3m handle.
Caesars continues to lead the DC revenue race
Caesars Casinos gained a slight lead over DC in February. The company then solidified its top position in the market by having another good month in March.
Caesars’ gross gaming revenue (GGR), which was $655,302, in March was 66.2% more than GambetDC, who came second with $394,223. This revenue gap was despite GambetDC (which is operated by DC Lottery, powered by Intralot) taking in $6.9m of bets compared to Caesars $4.7m.
BetMGM was third, with a handle of $3.4m and a GGR of $223.499; BetMGM is ranked fourth. FanDuel reported a handle of $471.335 as well as a GGR $42,385.
FanDuel now offers online sports betting
The Office of Lottery and Gaming in Washington DC announced that GambetDC would be discontinued on March 1. The current agreement will expire on the 14th of July. OLG has approved Intralot’s request to have FanDuel assume its Sports Betting Platform.
OLG revealed that it will also ask the DC City Council for approval to extend its Intralot agreement by two years. FanDuel would have an advantage of two years on the DC digital sports betting market if the agreement is approved.
On 15 April, the OLG released FanDuel’s online platform. FanDuel kiosks will replace GambetDC products in land-based venues.
GambetDC consistently performs below its competitors, despite the fact that it is the only sportsbook in California. GambetDC has been criticized for being hard to navigate and its odds.
More changes could be on the way. There are questions about whether the current DC system would better serve DC with an open and competitive market.
Kenyan McDuffie is a DC Councilmember who filed a Bill for a Open Marketplace in the State. The bill will be debated at the Business and Economic Development meeting scheduled for 6 May.
