With a new operator and another month of football, October 2021 sports betting in Washington, DC, set a new monthly record for handle.
However, it wasn’t all good news in the nation’s capital.
On one hand, the four DC sportsbook operators collected an all-time high in terms of monthly handle. Overall, players wagered $26.3 million with their October 2021 sports betting. However, on the other hand, after scoring a healthy 18.8% hold percentage in September, the operators saw the hold plummet to less than 6% in October.
A look at October 2021 sports betting in DC
As usual, Caesars by William Hill led the pack and earned the biggest October 2021 sports betting handle in DC.
Caesars offers a retail sportsbook at Capital One Arena. Customers can also access the Caesars online sportsbook in a two-block radius of the Washington Capitals‘ home arena.
With that setup, Caesars by WH accounted for $19.1 million of the overall $26.3 million October handle. That represents nearly three-quarters (72.6%) of the total.
However, after securing a hold of 20% in September, Caesars held just 4.9% in October.
|Caesars by William Hill||$19,071,916.46||4.9%||$926,151.45|
GambetDC, the DC Lottery-backed online app from Intralot, was second with $5.5 million in wagers. Players won $4.9 million, which created a hold of 8.9%.
BetMGM, which also offers retail betting and limited online wagering at Nationals Park, was third with $837,000 in wagers. However, the sportsbook, which also operates Caesars VA statewide and online in Virginia, had a rare losing month with a -2.0% hold.
Grand Central, the first Class B licensee in DC, collected approximately $207,000 in wagers with a massive 20.7% hold. October represented the first month of retail sports betting operations for the DC sports bar.
A record-breaking month for DC
With GambetDC’s near-monopoly in DC, the market will always have its problems – barring some significant legislative changes.
And the October 2021 sports betting numbers may be further proof that some changes could do the market some good.
DC had set a sports-betting record in September 2021 with $20.7 million in wagers. However, as in many other locales throughout the US, DC saw still a further jump last month – of more than 27%.
The October 2021 sports betting total of $26.3 million now represent the highwater mark and a new DC sports betting record.
GambetDC’s problems are well-documented and well-known by now. But as legislators and regulators have seen with the relative success of Caesars and BetMGM – and now Grand Central – giving DC sports bettors some options can boost the market.
Revenue woes in DC?
The DC sportsbooks operators failed to cash in during a busy October as they did in September.
The combined revenue of $1.6 million in October marks a significant slide from the $3.9 million they collected in September. It’s also a significant drop year-over-year, when they collected $3.5 million in October 2020.
However, as long as sportsbooks get the handle, which they assuredly did in October, their revenue will ultimately balance out in the long run.
Month-to-month may be volatile, but since the market inception, their hold percentage has held pretty steady at around 15%, far above the national average of 6-8%.
Now, with November approaching and the return of the NBA‘s Washington Wizards and NCAA men’s basketball, DC sports betting should see another big month.