Washington D.C. Dips in Sports Betting Handle, Rises in Revenue
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Washington D.C. sports betting saw yet another dip in their figures in January, continuing the trend from November and December.
The District brought in a sports betting handle of $18,627,789 in January, a 3.1% decrease from December’s $19,220,228.
Keep in mind, that $19,220,228 was a 10.3% decrease from November’s $21,419,455.
Interestingly enough, however, Gambet, which is the D.C. Lottery sportsbook, brought in $5,734,401, which was more than December’s $4,967,239.
Astonishing Revenue Increase Despite Lower Handle
While the handle may have been down in January, there was a definite spike in gross gaming revenue.
Looking at online sports betting unassociated with Gambet, D.C. online sportsbook pulled in $1,009,337 compared to just $732,989 in December, a 37.7% increase.
Gambet saw a 43.1% increase in revenue, going from $665,718 in December to $952,918 in January.
With the increased revenue, this means that D.C. also brought in more tax revenue. After receiving $73,299 in December, a 37.7% increase in January with a new figure of $100,934.
February Sports Betting Outlook
Looking ahead to February 2022 and what the month could hold for Washington D.C. data, there are two key components to keep in mind.
The first was Super LVI, which took place on Feb. 13. The biggest sporting event of the year brought in the typical sports bettor and the casual ones because of the size of the game and the sportsbooks’ promo offers.
The other thing to keep in mind is that BetMGM opened a retail sportsbook at Nationals Park at the very end of January, which could accentuate the Super Bowl LVI betting figures.
With these two factors in mind, we could see an increase in February 2022.
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