DC Sports Betting Earnings Level Despite Handle Decline

February sales were at the same level as the same month last year, but half the $2.4 million posted in DC in January this year.

For player spending, the handle for the month reached $12 million. That’s down from $12.6 million in February 2023 and 25.0% behind January’s total spending of $16 million.

Caesars edge forward from DC
Looking at individual operators, Caesars had a slight advantage in terms of revenue. It earned $409,386 in its $3.3 million bet in the month of February.

Gambet DC fell to No. 2 in DC with a $403,646 return. This came despite having much higher processing power than Caesars, processing $5.3 million worth of bets.

Next came BetMGM, which earned $294,651 in gross wages for the month, up from $2.6 million. FanDuel followed with $84,220 in revenue and a steering wheel of $565,595.

Turning to DC’s B-list licensee, Grand Central partnered with Elys Game Technology was more successful with $25,946 in revenue and a $234,615 handle. 온라인경마

Cloak Book closed the market with a gross wage of $1,432 from $15,050 in February.

Changing guards in DC?
The latest monthly results come amid reports of major changes in the DC market. This month, a letter from the Lottery and Gaming Secretariat (OLG) to the DC City Council, obtained by the iGB, suggests FanDuel will replace GambetDC as the only sportsbook platform available in DC.

The letter, dated March 8, confirmed OLG had “approved Intralot’s request to select FanDuel as its new subcontractor” for Lotto’s sports betting platform. However, the letter did not say when FanDuel could launch the platform across the city.

IntraRot, which contracts with DC, has struggled to launch competitive products in Gambet DC. In 2021, the platform lost $4 million.

“OLG and IntraLot have evaluated their current platforms and believe FanDuel and the industry’s leading platforms will perform better within the highly competitive DMV region,” OLG Executive Director Frank Suarez said in the letter.

Bill Seeks Digital Sports Betting With Legal Competitiveness
Another piece of news is that Kenyan McDuffie, a member of Congress in DC, has introduced legislation to allow an open and competitive market in the U.S. capital. Consumers currently have only one option for online betting.

The bill would create a new C-class license that would allow operators to offer online sports betting across the city. Currently, GambetDC is the only platform available across DC.

Other operators in DC can only provide digital platforms within a limited area around the location of a retail partner.