Similar to other regions in the US, sportsbooks in Washington, DC encountered difficulties in generating revenue from sports betting in August 2021.
In total, the three sportsbook operators in the capital of the nation gathered a handle amounting to $12,445,312.30. This resulted in a hold percentage of 14.1%, which corresponds to a total of $1,801,748.
The figures for the Interlot-powered GambetDC app were recently released by the DC Lottery. Additionally, the agency provided the sports betting tallies for Caesars By William Hill Sportsbook and BetMGM Sportsbook in August 2021. Both sportsbooks offer retail betting space and limited online wagering in DC.
DC’s August 2021 sports betting numbers
Similar to Virginia and other areas, the District has also seen a decline in sports betting during the summer, particularly in August 2021.
Gambet DC, the sole online sportsbook permitted to accept bets throughout the District, reached a record low in July 2021, accumulating only $2,152,023 in wagers year-to-date.
However, the low experienced a further decline in August. GambetDC’s handle dropped by almost a quarter (24.8%), amounting to $1,618,545.18 for the month.
Despite GambetDC’s reputation for offering stingy odds, bettors managed to win a substantial amount of $1,311,900.65. This resulted in a hold of $432,726, equivalent to 18.9% of the total winnings. Nevertheless, this hold percentage is consistent with GambetDC’s usual standards.
Despite a notoriously slow sports schedule in the summer, Caesars By William Hill Sportsbook experienced a marginal month-over-month increase of less than 0.1%. On the other hand, BetMGM recorded a significant growth of approximately $100,000, equivalent to a 15.9% surge.
Nevertheless, the lost ground that GambetDC incurred remained irretrievable.
Here’s the full breakdown:
| Operator | Handle | Hold | Revenue |
|---|---|---|---|
| William Hill | $10,080,741.32 | 11.2% | $1,128,317.07 |
| GambetDC | $1,618,545.18 | 18.9% | $306,644.53 |
| BetMGM | $746,025.80 | 7.7% | $57,939.27 |
| Totals | $12,445,312.30 | 12% | $1,492,900.87 |
In total, the three sportsbook operators in Washington DC gathered $12,445,312.30 in wagers, which is a decrease from the $12,808,240 collected in July.
DC vs. Virginia vs. Maryland
Virginia has already exceeded the DC sports betting market since its launch on Jan. 21.
Maryland, a neighboring state, used to attract many sports bettors who would travel to DC and other nearby states for sports betting. Nevertheless, as Maryland is expected to launch its sports betting before the end of the year, DC will now encounter heightened competition.
By now, the issues with both DC and the GambetDC app have been extensively documented. The Office of the District of Columbia Auditor has also provided their input, suggesting improvements such as offering improved odds, renegotiating terms with Interlot, and granting licenses to additional operators.
Despite the relative success of William Hill and BetMGM in DC, the Office of Lottery and Gaming appears unenthusiastic about implementing any changes.
This could still be advantageous for Virginia, as the robust online marketplace in DC undoubtedly directs a significant portion of betting dollars towards Virginia sportsbooks. Given that DC shows little initiative in retaining these funds within the district, it is unlikely that this dynamic will change in the near future.
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