Sports betting in Washington, DC, recorded increases in both betting handle and revenue generated in August.
DC sports betting has taken major criticism since it was introduced over two years ago. In 2018, before DC awarded Intralot the $215 million no-bid contract, former DC CFO Jeffrey DeWitt projected DC sports betting would bring in $27 million by 2021. Unfortunately, that has not been the case.
However, with five operators now in the mix, and month-over-month increases, perhaps the industry is on the rise.
Breaking down DC sports betting numbers for August
For August, the DC sports betting market totaled $13.1 million in handle, which was 15.9% higher than July ($11.3 million).
As for gross gaming revenue, sports betting brought in $1.8 million, which was higher than the $1.2 million recorded in July and the $1.5 million generated in August 2021.
As many customers already know, geo-location forces DC sports betting to operate in one of two ways.
The first allows operators to launch a mobile app throughout the entire district with a 20% tax rate. The second permits a mobile app with a two-block radius but with a 10% tax rate.
Top sports betting operators in DC
The top operator for August was Caesars Sportsbook, formally William Hill. Caesars pulled in $5.7 million in handle, translating to $683,325 in revenue.
Gambet, which the DC Lottery operates, secured $3.4 million in handle and $557,987 in revenue.
The BetMGM Sportsbook, located near the Washington Nationals stadium, pulled in $2.5 million in handle and $362,462 in revenue.
The newest addition to the DC market, the FanDuel Sportsbook generated $1.0 million in handle and $170,938 in revenue. In July, FanDuel announced the opening of its sportsbook at Audi Field, home of Major League Soccer team DC United.
Lastly, Grand Central Restaurant Bar & Sportsbook generated $450,500 in handle and $57,973 in revenue. The property offers sports betting via a partnership with Elys Game Technology.