Washington DC’s sports betting market witnessed significant growth in September, with a 48.1% increase in the betting handle compared to August. However, it experienced a 26.2% decline compared to the same period last year. Gross gaming revenue doubled from August and rose by an impressive 125% year-on-year. Caesars retained its top position among operators, while Elys Game Technology signed a promising deal to expand its sportsbook presence in the region.
Soaring Sports Betting Market in Washington DC:
In September, the sports betting handle in Washington DC soared to an impressive $19.4 million, showing a remarkable 48.1% surge compared to August’s figures. This substantial increase reflects the growing popularity of sports betting in the capital city.
Revenue Growth Among Operators:
Caesars emerged as the clear leader among operators, generating $1.4 million in revenue from $7.3 million worth of bets. Gambet, powered by Intralot and operated by the DC Lottery, secured the second spot with $1.1 million in revenue from $6 million in bets. BetMGM, known for its partnership with the Washington Nationals MLB team, registered revenue of $678,061 from a $4 million betting handle.
Impressive Expansion by Elys Game Technology:
Elys Game Technology, a prominent sports betting supplier, recently sealed a deal to expand its presence in Washington DC. The company established a joint venture with Grand Central Restaurant and Sportsbook, paving the way for a second sportsbook location. Although the precise location remains undisclosed, it is subject to approval by the DC Department of Small & Local Business Development and the DC Office of Lottery and Gaming.
Caesars Sportsbook Expands at Capital One Arena:
Capital One Arena in Washington DC witnessed the expansion of Caesars Sportsbook. The sportsbook introduced 20 self-service betting kiosks, a new entrance directly leading to the concourse of the arena, and added over 700 square feet of space. This move demonstrates Caesars’ commitment to offering an enhanced and convenient sports betting experience to its customers.
FanDuel and Grand Central Bar’s Revenue Achievements:
FanDuel, operating a FanDuel-branded retail sportsbook at Audi Field, the home of Major League Soccer team DC United, achieved significant revenue growth. With $250,932 in revenue from $1.6 million in bets, FanDuel continues to be a notable player in the market. Grand Central Bar, in partnership with Elys Game Technology, secured $128,971 in revenue from a $546,641 handle, showcasing its contribution to the growing market.
The sports betting industry in Washington DC has experienced a remarkable surge, with the September handle up by 48.1% from August. While year-on-year figures show a decline of 26.2%, the overall growth in revenue remains impressive. Caesars’ dominance among operators and Elys Game Technology’s strategic expansion signify the market’s potential for continued growth and innovation. As sports betting continues to flourish in the capital, operators and suppliers are poised to capitalize on the city’s enthusiasm for this popular form of entertainment.