The US Capital Sets New Sports Betting Revenue RecordPublished November 3, 2021 by Sol FH
Washington DC has had a huge month and has broken new revenue and handle records for sports gambling.
When Washington DC legalized and regulated sports gambling, it took off quite quickly and has become a major market in the US. Over the course of the month of September, the district reached a new monthly record in sports gambling tax revenue worth $3.8m, while the handle surpassed $20m, a first for the industry therein.
The leading operators in the district were Caesars Entertainment, Lottery’s Gambet brand, and BetMGM increased from its August total of $1.5m and passed the previous record of $3.6m set in November of 2020.
September's handle was also a lot higher than the $12.8m wagered by DC punters in August. It reached a total of $20.7m and topped the record of $19.5m set in July this year.
The leading operator by performance was Caesars, which runs an online mobile sportsbook and a land-based sportsbook facility in Capital One Arena. Caesars saw gross gaming revenue from sports wagering hit $3.2m in September, from their total handle of $16.2m. Caesars was previously operated by William Hill but was rebranded after they acquired the UK-based operator.
The second-highest earner, Gambet, which is operated by the DC Lottery was at $595,995 in revenue off a handle of $3.7m for the month.
They were followed by BetMGM, which has created a partnership with the Washington Nationals MLB team, and launched in DC 6 months ago, posted $46,930 in revenue off a handle of $836,623.
Washington DC has enjoyed tens of millions in tax revenue to date, with an earning of $21.9m on September 30. The total handle amounted to $148.6m which means that more DC players are getting their sports gambling online.