The sports betting landscape in Washington DC witnessed a handle of $18.7 million in December 2022, marking a notable point in the industry’s trajectory. While this figure represents a 12.6 percent decline from November’s $21.4 million and a slight dip of 3.1 percent compared to December 2021’s $19.3 million, it remains a key indicator of the market’s dynamics.
Revenue and Growth:
In terms of revenue, the month saw a decline of 7.7 percent from the previous month, with revenues totaling $2.4 million. However, compared to the same period last year, revenue exhibited an impressive 71 percent growth. This growth trend indicates the underlying potential and evolving nature of the Washington DC sports betting market.
Active Operators and Performance:
The Washington DC sports betting landscape features six active operators, each contributing to the overall figures and market dynamics. Leading the pack was Caesars, which maintained its prominent position by generating $932,749 in revenue from bets totaling $6.4 million. Intralot-powered Gambet, operated by the DC Lottery, showcased a solid performance with a $6.4 million handle and revenue of $796,140.
FanDuel, part of Flutter Entertainment and operating a retail sportsbook at DC United’s Audi Field, recorded a revenue of $366,528 with a handle of $1.6 million. BetMGM, operating in partnership with the MLB’s Washington Nationals, exhibited a revenue of $261,835 from a handle of $4 million.
Additionally, Grand Central Bar, which offers sports betting through Elys Game Technology, contributed $52,923 in revenue from $397,800 in bets. Cloakbook, a venture between Cloakroom DC and Elys, marked its entry into the DC market in December, recording $452 in revenue from $1,644 in bets.
The sports betting handle and revenue figures from Washington DC’s dynamic market indicate both growth and fluctuation in the industry. Despite the month-to-month variations, the significant year-on-year revenue growth underscores the potential for expansion and innovation in the DC sports betting landscape. As the market continues to evolve and adapt to changing trends, these figures provide valuable insights into the direction of the industry and its role in the broader sports and entertainment ecosystem.