The biggest sportsbook in Washington, DC witnessed a decline in sports betting in January 2022, causing the overall market to decrease for the third consecutive month.
In total, the four sports-betting operators in the capital of the country amassed slightly over $18.6 million in wagers.
The DC sports betting handle has experienced a continuous decline for three consecutive months. In November 2021, the four operators managed to collect $21.4 million in wagers, followed by $19.2 million in December 2021. These figures come after a record-breaking month in October 2021, where DC bettors wagered a total of $26.3 million.
The beginning of the year has brought unfortunate news for the struggling DC sports-betting market, with the busiest sportsbook in the area experiencing a significant drop in betting activity during January.
Caesars by William Hill struggles with January 2022 sports betting
In December, the retail sportsbook Caesars by William Hill at Capital One Arena recorded a handle of $11.4 million. However, in January, this figure dropped to $9.2 million, indicating a decrease of 19%. Additionally, its market share for the month also declined from 59% to 49%.
In January, Grand Central, the sole Class B licensee in DC, experienced a significant decrease in betting volume. This establishment, known for being a sports-betting bar, had previously been thriving in the DC market. However, following two months of impressive growth, the popular sports-betting operation at the Adam’s Morgan neighborhood spot faltered, witnessing a 19% decline in betting activity.
- In the month of October 2021, the handle amounted to $207,355.
- In November 2021, the handle amounted to $494,997, representing a significant increase of 139% compared to the previous month.
- In December 2021, the handle reached $735,385, showing a significant increase of 49%.
- In January 2022, there was a decline of 18.8% in the handle, amounting to $597,353.
Despite its reputation, GambetDC, the operator supported by the DC Lottery, successfully capitalized on its virtual monopoly in online betting in DC. In January, there was a notable 15% surge in betting volume, reaching $5.7 million.
Moreover, there was a notable surge in betting activity for BetMGM. Specifically, the betting volume experienced a substantial 45% increase, reaching $3.1 million. It is worth mentioning that BetMGM runs a physical sportsbook located at Nationals Park. Similar to Caesars, who operates at Capital One Arena, BetMGM has the ability to provide restricted online betting within a two-block distance from the sports facility.
The BetMGM numbers have the potential to improve even more in the near future. On January 31st, the sportsbook operator unveiled its highly anticipated dedicated sportsbook at Nationals Park. This marks the first authentic sportsbook situated within an MLB stadium.
Take a glance at the list of DC operators for sports betting in January 2022.
| Operator | Handle | Hold | Revenue | Monthly Market Share |
|---|---|---|---|---|
| Caesars by William Hill | $9,169,639 | 7.6% | $694,905 | 49.2% |
| GambetDC | $5,734,401 | 16.6% | $952,918 | 30.8% |
| BetMGM | $3,126,395 | 7.8% | $243,695 | 16.8% |
| Grand Central | $597,353 | 11.8% | $70,738 | 3.2% |
| Totals | $18,627,789 | 10.5% | $1,962,256 |
Despite good month, GambetDC still in trouble
GambetDC has gained a reputation for its numerous issues. Due to unfavorable odds and a cumbersome interface, experienced sports bettors have chosen to avoid the Intralot product.
The higher than average hold percentage of 16.6% for January 2022 sports betting at GambetDC could be attributed to the hesitancy of experienced bettors to use the platform. Although this monthly hold is not particularly uncommon for GambetDC, it significantly surpasses the national average range of 6-9%.
In January, GambetDC, similar to other sportsbook operators, reaped the rewards of the heightened betting enthusiasm surrounding the NFL Playoffs. These postseason matches consistently attract substantial betting activity. Additionally, a comprehensive lineup of NHL, NBA, and college basketball games contributed to the positive outcome.
Despite the significant sports betting event of the year, GambetDC has missed out on fully seizing the opportunity. On February 13, during Super Bowl LVI, users experienced a widespread outage that halted betting operations for Apple users. It appears that a glitch affecting all iOS devices went unnoticed by a third-party vendor responsible for detecting such issues.
The February 2022 DC sports betting numbers may face significant damage due to the outage.
In response to a surge of online complaints, a lottery representative issued a statement.
“We acknowledge the need for improvements in functionality and user experience. Currently, we are actively working on notable enhancements to the user interface, ensuring that players will have a superior experience with GamBetDC.”
Since its 2020 launch, the Office of Lottery and Gaming (OLG) has been sluggish in implementing significant improvements to GambetDC, despite the Office of the DC Auditor’s urging for major changes.
Related Articles
