The Washington D.C. Office of Lottery and Gaming reported total sports betting handle of nearly $16 million for January, a sharp year-over-year decline as the City Council continues to ponder the fate of GambetDC.
Handle was down 20.7% from the first month of 2023, with the $7.2 million worth of wagers accepted by GambetDC representing an 18.5% decline. BetMGM was the only operator among the four Class A licensees to post a year-over-year increase — its $3.3 million handle was up 15.8%.
Despite the downturn in wagering activity, sports betting revenue surged almost 30% to $1.9 million, thanks to a district-wide hold of 12.1%. GambetDC generated $690,000 in adjusted gross revenue, but that was down 20% from January 2023. BetMGM had a 13.9% win rate to claim $461,000 in winnings, while Caesars''hold neared 13% and resulted in $579,000 worth of revenue.
The district’s five-year contract with Intralot — the betting platform for GambetDC — expires in July. While talks have begun between Intralot and the D.C. Lottery for an extension through the summer and perhaps Intralot subcontracting an operator for the length of the extension, the City Council must sign off on such a deal.