The sports betting landscape in Washington D.C. witnessed a substantial uptick in activity last month, as bettors placed $15.7 million in wagers during March—a robust 30.8% rise from the $12.0 million wagered in February. Despite this surge, figures fell short of the previous year’s performance, showing a 13.3% decline from the $18.1 million staked in March 2022.
In tandem with the heightened wagering action, the District also reported a leap in sports betting proceeds, with revenue climbing to $1.4 million, up from $1.2 million the prior month. Nevertheless, this revenue still did not match up to the $2.3 million generated in the same timeframe last year, indicating fluctuations in the betting economy year-on-year.
February’s market outcomes were narrow, but March saw Caesars Entertainment solidify its leading status, posting a particularly successful month. Caesars recorded a gross gaming revenue (GGR) of $655,302 in March, dwarfing the $394,223 generated by the second-placed platform, GambetDC. Intriguingly, GambetDC, operated by the DC Lottery and supported by Intralot, accepted a larger volume of wagers totaling $6.9 million, in stark contrast to Caesars’ $4.7 million in handled bets.
BetMGM retained its position behind the front-runners, maintaining third place with an impressive handle of $3.4 million and a GGR of $223,499. FanDuel trailed with figures of its own—amassing a handle and GGR of $471,335 and $42,385, respectively.
Significant changes are on the horizon for D.C.’s betting infrastructure, prompted by the Office of Lottery and Gaming’s (OLG) decision to discontinue GambetDC after its existing contract expires on July 14. Notably, an arrangement has been brokered that would see FanDuel assume operations of Intralot’s sports betting platform in the District.
Coupled with this transition, the OLG disclosed plans to petition the DC City Council to extend its contractual ties with Intralot for an additional two years. If the Council gives its approval, this would effectively grant FanDuel a two-year head start in the online sports betting market of D.C. over competing operators, potentially reshaping the competitive dynamic.
A noteworthy development occurred on April 15, when FanDuel’s online sports betting platform, championed by the OLG, made its debut. Plans also include the replacement of GambetDC’s kiosks with FanDuel’s offerings at brick-and-mortar locations, signaling a significant shift in the sports betting infrastructure of the capital.
GambetDC’s performance has been less than stellar, falling behind Caesars earlier in the year, despite the fact that it was the lone online sportsbook available outside of sporting venues within the city. Criticisms had mounted over GambetDC’s user interface and unfavorable odds, calling into question the overall effectiveness of the platform.
The D.C. sports betting framework has sparked debates regarding the potential benefits of adopting an open and competitive market. Councilmember Kenyan McDuffie has stepped into the legislative arena with a proposed bill advocating for such a transformation. The bill is poised for deliberation at a Business and Economic Development committee meeting scheduled for May 6, potentially setting the stage for a major overhaul of the sports betting market in D.C.
In conclusion, March proved to be a noteworthy month for sports betting in D.C., with rises in both handle and revenue, though year-on-year comparisons tell a different story. With Caesars spearheading the market, and the imminent changes brought by the introduction of FanDuel and the sunset of GambetDC, all eyes will be on how the new landscape will evolve and whether it will invigorate the District’s betting economy in the months to come.
