Some $15.7m (£12.6m/€14.7m) in sports wagers were placed in DC in March, which was 30.8% higher than February’s figure of $12.0m. However, handle was 13.3% down year-on-year, with DC having taken $18.1m in sports bets in March 2023.
DC also saw its sports betting revenue jump to $1.4m from February’s $1.2m. Like handle, though, this fell well short of the $2.3m generated in the same month last year.
Caesars still leading the way in DC for revenue
In February, Caesars took a slender lead in DC. It then consolidated its position at the top of the market with another strong month in March.
Caesars generated gross gaming revenues (GGR) of $655,302 in March, 66.2% higher than second-placed GambetDC’s $394,223. That revenue disparity was in spite of GambetDC, which is run by the DC Lottery and powered by Intralot, taking $6.9m in bets to Caesars’ $4.7m.
BetMGM remained third with $3.4m in handle and $223,499 in GGR. FanDuel, meanwhile, reported handle and GGR of $471,335 and $42,385 respectively.
Online sports betting now subcontracted to FanDuel
In March, DC’s Office of Lottery and Gaming (OLG) announced it would unwind GambetDC. The ongoing agreement expires on 14 July. The OLG approved a request from Intralot that will see FanDuel take over its sports betting platform.
The OLG also revealed it would request the DC City Council’s approval on a two-year extension to its Intralot contract. If the deal is approved, FanDuel could have a two-year head start on online sports betting in DC before other operators can enter the digital market.
The OLG launched FanDuel’s online platform on 15 April. GambetDC kiosks are to be replaced by FanDuel products at land-based venues.
GambetDC has consistently underperformed, having been overtaken by Caesars despite being the only online sportsbook available statewide. Criticisms have been levelled against GambetDC being difficult to navigate, as well as its odds.
Further changes may be coming. The current system in DC prompted questions whether the state would be better served with an open, competitive market.
Kenyan McDuffie, a DC councilmember, filed a bill for an open marketplace in the state. That bill is set to be discussed at a business and economic development meeting on 6 May.
Original article: https://igamingbusiness.com/sports-betting/washington-dc-reports-sports-betting-handle-increase-march/
