Washington DC sports betting handle hits six-month low in January

The amount wagered by players was 18.5% higher than in January 2021, but was 3.6% down from $19.3m in December last year and the lowest monthly amount since $12.4m was bet in August 2021.

Sports betting revenue for the month amounted to $2.0m, which was up 5.3% year-on-year and also 42.9% higher than in December 2021.

Gambet, operated by the DC Lottery and powered by Intralot, retained top spot in January, taking $5.7m in bets and paying out $4.8m in winnings, suggesting $952,919 in revenue for the month.

Caesars, which operates an online mobile sportsbook and a retail sportsbook at the Capital One Arena, was second with $694,905, despite a higher handle of $9.2m.

BetMGM, active in DC via a partnership with Major League Baseball team the Washington Nationals, was next with $243,695 in revenue off $3.1m in total bets.

Grand Central Restaurant, Bar and Sportsbook, which offers sports betting in DC through a partnership with Elys Game Technology, followed with $70,738 in revenue and a handle of 597,353.

Looking at the fiscal year to date, during the four months to the end of January, players bet a total of $85.6m on sports in DC, with revenue amounting to $9.4m.

Caesars led the way with $5.2m in revenue off a $53.5m handle, ahead of Gambet, which took $21.5m in bets and paid out $18.2m, suggesting $3.3m in revenue.

BetMGM followed with $537,807 in revenue and $8.6m in player bets, then Grand Central with $272,461 in revenue and a $2.0m handle.

The six-month low figure comes as a number of other states – such as New Jersey, Indiana and Michigan – have hit record highs.