Washington DC Sports Betting Market Down Year-Over-Year in October

Washington DC Sports Betting Market Down Year-Over-Year in October

Last updated on November 17th, 2023 at 11:58 pm

Caesars Entertainment remained the leader in the Washington DC sports betting market. However, the sector declined in revenue and handle year-over-year in October.

In October, Washington, DC gamblers wagered $16.4 million. This was 33.9 percent less than the $24.8 million earned in the corresponding month a year ago but 13.1 percent more than the $14.5 million earned in September 2023. The total amount of money made via gambling was $2,000,000. The sum was 35.5% lower than the same time last year’s $3.1m and only 2.1% higher than September’s $1.9m.

According to gambling and sports news reports, Caesars won when each licensed operator broke down results. Caesars jumped out to an early lead in August and has maintained their advantage in Washington, DC, throughout October.

Washington DC Sports Betting Market on the Decline in October

Caesars took in $6.0m in wagers and made $964,606. The DC Lottery’s Gambet, powered by Intralot, had previously been the city’s favorite. In October, the business pulled in $5.8 million from wagers and made $663,573 from sports betting. In addition, people prefer any other software for gambling instead of Gambet.

Entain and MGM Resorts’ joint venture, BetMGM, also reported a $3.3m handle and $225,712 in revenue. Next in line was FanDuel, owned by Flutter Entertainment and had a handle of $774,424 and revenue of $140,930.

In conjunction with their Elys Game Technology partner, Grand Central was the only other operator to report a profit. After taking $649,719 in bets throughout October, the total income from the partnership totaled $22,392. Thus, it is still an excellent time to be an online bookie in DC.

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