Washington D.C. sports betting handle reached $12million in February 2024, down 5% on the previous year’s figure.
In 2023, the city’s sports betting handle was $12.6m, making a slight year-on-year drop. And there was an even sharper decline in the month-to-month figure.
In January 2024, the handle was $16m, making February’s $12.6m a 25% drop-off. Revenue in February 2024 was $1.2m. That’s the same as the previous year but half that of January 2024.
The revenue-leading operator in February was Caesars, with $409,386 taken from $3.3m in wagers. Second place belonged to GamebetDC, which registered $403,646 from $5.3m in bets.
BetMGM generated revenue of $294,651 from £2.6m, while FanDuel took $84,220 from $565,595. Grand Central, which is partnered with Elys Game Technology, took $25,946 from $234,615 and Cloakbook made $1,432 from $15,050.
Last week saw the Grand Central H-Street Sportsbook host an opening evening. Situated at 625D H Street NE, Grand Central Sportsbook now joins the Grand Central Restaurant and Sportsbook and the Cloakroom Gentlemen’s Club Over Under Sportsbook Lounge.
Washington D.C. Sports Betting Bill Would Allow More Mobile Competition
Kenyan McDuffie, a Washington D.C. council member, has proposed a new bill which aims to increase competition within the state’s online sports betting market.
If passed, this bill would create a new class of licences for sports betting. These three new ‘Class C” licences would be reserved for eligible professional sports franchises.
At present, the only betting app available throughout the majority of Washington D.C. is GamebetDC. But under this new bill’s legislation, there would no longer be any geofencing around sports grounds.
However, geofencing around federal lands would continue to exist. The bill would also require operators which are currently partnered with sports franchises or venues to apply for new licences in order to provide betting across the entire district.
Although there are some hurdles, it is hoped that by passing this new bill, the state will be able to allow further competition in the market, and a better product for players in Washington D.C.
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