There’s rarely been good DC sports betting news when it comes to the DC Lottery-run GambetDC platform powered by Intralot.
Don’t expect any this month either.
The latest figures imply William Hill, GambetDC’s only competition in the District, is picking up even more momentum. Meanwhile, the only DC sports betting app available throughout the majority of the District continues to pick up scraps.
Like other jurisdictions with legal sports wagering, DC should see an influx of handle from March Madness betting this month. If March’s results follow the same trend as February’s, expect William Hill to widen its market share lead.
Breaking down February DC sports betting results
The two sportsbooks took a total of $15.3 million in bets last month. William Hill and its narrowly geofenced mobile app accounted for nearly three-quarters of that.
William Hill, which launched its limited-access mobile app in December, took $11.1 million in bets. Sports betting revenue was $732,714, good for a 6.6% hold and $73,271 in taxes.
GambetDC, meanwhile, took $4.2 million in handle. That led to $600,305 in revenue and a 14.4% hold.
The DC Lottery doesn’t break out its profit each month. It says to assume 50% of gross gaming revenue each month is profit for the lottery. According to recent figures provided by the Office of Lottery and Gaming, though, that’s far from the truth.
William Hill handle rises in February
The troubling trend for GambetDC is that William Hill saw an increase in activity last month.
Most jurisdictions reporting February results so far show a dip from January in betting activity. That’s not a fluke: while Super Bowl betting draws in big figures, it doesn’t replace the business done on the 12 NFL Playoff games played in January.
That increased activity suggests more people are using the William Hill app, even though it’s geofenced to just two blocks surrounding the Capital One Arena.
William Hill’s handle rose 5.5% in February from January. Total bets of 128,002 were essentially flat compared to January’s 129,558.
GambetDC, meanwhile, saw handle drop 19.7% month-over-month. Total bets dropped 16.5% to 124,362 in February.
More DC sports betting competition coming soon
It appears any chance GambetDC had to parlay its widespread mobile sports betting access into leading market share for the District is gone, especially considering the road only gets tougher from here.
BetMGM, which partnered with the Washington Nationals for a DC sportsbook, is working through the licensing process now.
That launch should come before August, according to the OLG’s Director of Regulation and Oversight Peter Alvarado at last week’s hearing before the DC Council’s Committee on Business and Economic Development.
FanDuel Sportsbook also plans to join the market at some point through a partnership with DC United of Major League Soccer. That application process hasn’t started yet.
A decision on the potentially first Class B license to be awarded is also expected soon, the OLG’s interim executive director Ridgley Bennett told the committee.