Washington DC Maintains Steady Sports Betting Revenue Figures

According to reports from Washington, DC’s gambling sector, February saw the capital amass $1.2 million in sports betting revenue. It is also important to note that this figure reflected the same level year-on-year, however, in comparison to Jan. 2024, the figures experienced a stark contrast, marking a 100% decrease. January’s revenue stood at $2.4 million, representing a doubling of February’s earnings.

While sports betting revenue remained consistent with last year’s figures, February’s handle of $12 million marked a notable decline of 25% compared to Jan. 2024, which boasted $16 million. However, it’s worth noting that the decrease from the same period last year was marginal, at just 4.8%, with figures resting at $12.6 million.

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Caesars and GambetDC Vie for Top Spot in Washington, DC

While Caesars Sportsbook initially held the lead in revenue generated over GambetDC and other operators in the region, GambetDC surged ahead by securing the top position in terms of the number of bets placed by its customers.

During February, Caesars recorded $409,383 in revenue from the $3.3 million wagers made by gamblers. In contrast, GambetDC closely followed with $403,646 in revenue, just trailing Caesars. However, GambetDC boasted the lion’s share of bets, with a total of $5.3 million.

Looking ahead, GambetDC is set to be replaced by FanDuel. Earlier this month, the Office of Lottery and Gaming, along with the DC City Council, announced that FanDuel will take over as the new subcontractor for the lottery’s sports betting platform. This decision comes as a result of GambetDC’s underperformance over the years.

Still on the gambling financial report, BetMGM secured the third position, recording a revenue of $294,651 from its $2.6 million total betting volume in February. Following closely behind is FanDuel, which makes rounds in top place in the majority of sports betting states in the US. Despite this, FanDuel trailed with a revenue of $84,220 and a total betting volume of $565,595 for the same month.

In other recent state developments, the DC Council, led by Councilman Kenyan McDuffie, passed a bill allowing online sports betting operators to extend their services throughout the entire capital. This significant legislative move aims to foster a more competitive market environment in Washington, DC. Presently, sports betting operators are restricted to offering their digital platforms within a limited vicinity around their retail partner’s location.

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About the Author
Tebearau Egbe

Tebearau Egbe

Tebearau Egbe is a seasoned gambling writer with more than 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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