Washington, DC sports betting handle drops in July
Sports betting in Washington, DC fell to $12.5m in July, down from $19.5m in June.
Bettors in the nation’s capital were less than enthusiastic for wagering on the Olympics and other summer sports even as BetMGM experienced its first full month with an online sports betting presence.
BetMGM partnered with the Washington Nationals on June 10 to launch a mobile sportsbook accessible only at Nationals Park and a two-block radius surrounding area.
BetMGM reported $644,000 in July handle while revenue amounted to $149,000. The operator saw a high hold of 23.1%, likely related to promotions.
BetMGM only accounted for 5% of the DC handle share in July but did cut into market leader William Hill, whose handle share fell 2.2% from June.
William Hill, which was rebranded into Caesars Sportsbook in early August, collected $10m in handle and $1.2m in revenue. The operator runs a retail sportsbook at Capital One Arena, home of the NBA’s Washington Wizards and NHL’s Washington Capitals. Similar to BetMGM, William Hill also offers mobile wagering within a two-block radius of the arena.
The DC sports betting market will soon become more competitive with the expected launch of FanDuel Sportsbook at Audi Field later this year. FanDuel submitted its application in June.
GambetDC, meanwhile, recently rolled out its first retail sports betting kiosks in the District at four local bars – Ben’s Next Door, Lou’s City Bar, Takoma Station Tavern and Dirty Water. The kiosks went live on July 30.
DC sportsbooks should benefit from Washington Football Team preseason games in August and then the return of the NFL regular season in September.
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