Bettors are not letting geofences and traveling prevent getting the best Washington DC sports betting odds they can find.
Caesars Sportsbook by William Hill is still the dominant force in the market, according to the DC Lottery and private operator reports. That’s despite more competition both from private operators like BetMGM and Lottery-run GambetDC.
GambetDC, the only mobile DC sports betting app available throughout the majority of the District, is still rolling out retail kiosks to various retail partners. It is also promoting games that have no vig, which is a big step considering how truly awful the odds were at launch – and, for the most part, still continue to be.
DC sports betting details for October
The realization that GambetDC priced itself out of the market appears to have come a little too late, however.
Caesars, as usual, leads the way in handle. That’s how it’s been since the first kiosks, then branded William Hill, opened at Capital One Arena last July.
| Operator | Handle | Revenue | Hold | Handle Share |
|---|---|---|---|---|
| Caesars Sportsbook | $19,071,916 | $926,151 | 4.9% | 72.4% |
| GambetDC | $5,547,153 | $632,572 | 11.4% | 21.1% |
| BetMGM | $1,505,804 | ($30,921) | -2.1% | 5.7% |
| Grand Central | $207,355 | $42,858 | 20.7% | 0.8% |
| Total | $26,332,228 | $1,570,661 | 6.0% | 100.0% |
Caesars is taking more than 72 cents out of every dollar bet in the District. GambetDC, meanwhile, is quite a distance away in second place with just 21.1% of handle share.
BetMGM, meanwhile, is still ramping up and eating into GambetDC’s share. Handle has grown each month since BetMGM launched in June and grew 80% in October compared to September.
October also marked the first month a Class B licensee was open for business. Sports bar Grand Central reported $207,355 in retail bets handled by Elys and the US Bookmaking team.
Huge difference in bet size
If you just look at the number of bets for the month, it’s easy to think GambetDC is holding its own. Out of 393,913 bets, GambetDC took 157,503, or 40%. Caesars, meanwhile, took 50.3% with 197,952 bets.
But it’s clear the brands attract different types of bettors. GambetDC’s average bet is $35.22 while Caesars’ is $96.35. That says everything about the difference at the two sportsbooks.
GambetDC ranks last out of the four operators in terms of average bet size. BetMGM averaged $41.89 a bet, while those retail bets at Grand Central averaged $82.68.
