DC Lottery reported a total sports betting handle just shy of $12 million for February, the second consecutive month wagering has been down by a double-digit percentage compared to the previous year.
Handle was down 18.2% compared to the $14.6 million worth of accepted wagers in February 2023 and 24.9% lower from the $16 million handle to start 2024. The $27.9 million wagered for the first two months of the year is $6.8 million less than the same span in 2023, a decline of 19.6%.
The slow start comes as both DC Lottery and the D.C. City Council debate ways to jump-start activity. The district’s gaming agency wants to make FanDuel its primary sports betting app, but council member Kenyan McDuffie has proposed an overhaul of the current system that would include mobile access for BetMGM and Caesars Sportsbook as well as FanDuel.
Revenue still up
Despite the downturn in handle, operators combined for $1.2 million in adjusted gross revenue and fashioned a collective hold of 10.2% for February. It was the seventh time in eight months the four Group A and two Group B licensees combined for a double-digit hold, which has helped year-to-date revenue increase 17.3% versus the first two months of 2023.