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Washington D.C Sees nice Sports Betting Increase in May

Washington D.C. sports betting bounced back from April to May with a solid increase in handle. The jurisdiction is starting to develop a pattern that is not ideal for the D.C. Lottery.

Washington D.C. sports betting bounced back from April to May with a solid increase in handle. The jurisdiction is starting to develop a pattern that is not ideal for the D.C. Lottery. However, sports betting numbers are rising drastically, which helps with tax revenue.

The May Handle

The state lottery would rather have GambetDC outperform William Hill than vice versa. Although, past months have proven that this will never come to fruition. William Hill’s handle in May was triple that of GambetDC.

William Hill has also recently opened a retail sportsbook which has taken attention away from GambetDC. The total sports betting handle in Washington D.C. was nearly $13.8 million.

Out of this total, William Hill was responsible for $10.68 million, and GambetDC accounted for $3.1 million. The total handle was up 28.2% from April’s $10.7 million figure.

In April, William Hill still dominated the handle, collecting $8 million in wagers. Even though D.C. had a larger handle, the revenue dropped for William Hill. The sportsbook’s gross gaming revenue was $1.4 million, which declined 11.6% from the month prior.

GambetDC had better luck in the revenue category. The app’s May revenue rose 19% from April. The platform collected $637,422.

A Developing Pattern

Washington D.C. is a sports betting competitor in the DMV (D.C., Maryland, & Virginia). However, the handles could be much more significant if the district’s rules were different. In Washington D.C., there are now three betting providers.

BetMGM recently launched because of a deal with the Washington Nationals. However, this provider has not been part of the jurisdiction’s sports betting growth. There have been two sportsbooks that have been operating for an extensive period.

GambetDC and William Hill have been the two providers in the jurisdiction, but the rules are not equal for the two sportsbooks. The D.C. Lottery runs GambetDC, and bettors have access to it throughout the entire jurisdiction.

William Hill Sportsbook can only be used on mobile within a two-block radius of Capital One Arena. There are also betting kiosks and a retail sportsbook in the arena that people can utilize. Usually, a universal mobile app would dominate a platform that can only be used in a limited area.

However, this has not been the case in Washington D.C. There have been numerous complaints about GambetDC. The lines and odds make it tougher to win because the lottery is trying to increase its profits. This has been one reason why people are making the trek to Capital One Arena to wager.

With BetMGM entering the market, GambetDC’s numbers are expected to continue decreasing.

New Competitor

BetMGM is another reputable app that will cause the handle in Washington to rise. However, the sportsbook will take bettors away from GambetDC. William Hill should still produce substantial numbers, but this will not be the case for the universal mobile app.

The Nationals and BetMGM announced this deal in January. BetMGM is one of the most popular books in Virginia. Many Virginia bettors also wager in D.C., so the industry is excited to see what BetMGM will do in the jurisdiction.

 

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