Washington DC Sports Betting Revenue Declines in December

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The December handle in Washington DC totaled $15.3 million, reflecting a decrease of 18.2% compared to the $18.7 million recorded in Dec. 2022 and a 10.5% decline from the $17.1 million reported in Nov. 2023.

The gross gaming revenue for December amounted to $2.5 million. This figure represents a 4.2% increase from the $2.4 million reported in December of the previous year and a substantial 108.3% surge from the $1.2 million recorded in November.

Here is more on Washington DC sports betting.

Caesars Maintains Position as Leading Operator in the Nation’s Capital

From the performance of individual operators in the DC market for December, Caesars maintained its leading position. In the month, the operator generated $889,481 in revenue from a total of $5.3 million in sports bets, compared to the November figure of $6.1 million in wagers.

On the other hand, Gambet, which is operated by the DC Lottery and utilizes Intralot’s technology, held onto the second spot. Despite players placing higher wagers with Gambet compared to Caesars, with a total betting amount of $5.7 million, the operator faced a challenge as it paid out $4.9 million in winnings. Gambet also recorded a smaller gross gaming revenue of $837,595.

FanDuel, which is under the ownership of Flutter Entertainment, experienced a positive performance in the past month. Their reported revenue amounted to $446,410, stemming from $1.1 million in bets. Compared to November, the sportsbook saw the sports betting handle amount to $804,438. FanDuel’s percentage stood at 41.5%, surpassing that of any other operator in the DC area.

BetMGM Beats FanDuel in Bets Volume

BetMGM handled a higher volume of bets compared to FanDuel, with a total of $2.8 million processed in December. However, their revenue figure fell short at $284,980, positioning them below FanDuel in the monthly rankings. Unlike November, it registered a betting handle of $3.9 million and distributed payouts amounting to $3.7 million for the month. The sportsbook maintained a hold percentage of 5.43%, leading to a gross gaming revenue of $211,525.

Examining the performance of other operators in the DC market, Grand Central and partner Elys Game Technology recorded $72,627 in revenue from $417,402 in sports wagers. Compared to their November report, it recorded a betting handle of $402,673 and $56,065 in gross gaming revenue.

Concluding the market overview, Cloakbook secured $2,508 in revenue from a total of $13,300 in wagers. This translated to a hold percentage of 18.9% for the month, which is considered among the highest in the DC region.

About the Author
Tebearau Egbe

Tebearau Egbe

Tebearau Egbe is a seasoned gambling writer with over four years of experience. Armed with a Masters degree in philosophy, Egbe possesses a unique ability to dissect complex industry developments, distilling them into insightful narratives that captivate readers.

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