• News
    • Archive
  • Celebrities
  • Finance
  • Crypto
  • Entertainment
  • Travel
  • Health
  • Others

D.C. gambling revenue reaches new record


Despite the state’s short history regarding legal gambling - being one of the few jurisdictions in the country that doesn’t feature a land-based gambling facility like casinos and race tracks - sportsbooks in Washington D.C. reported a record $4.4 million in sports betting revenue in November, while reports released by DC Lottery also revealed a significant year-on-year increase in betting handle for the state’s lotto. Smaller in size than all states in the country and subject to oversight from a federal government that has historically had a fickle relationship with gambling, D.C. still has a long way to go to become a competitive gambling market in the United States. However, this is slowly changing, as new legislation is passed in other states around the country, which may compel council members in D.C. to take up once again on online gambling proposals. For a state of comparison, Michigan, a state that had recently launched a few iGaming activities such as online casinos, online sportsbooks, and online instant win games, recorded more than $450 million in gross revenue, while New Jersey, who surpassed Nevada for the largest sports betting handle in the country, became the first state to reach more than $1 billion in total sports betting handle.

New Highs For D.C.

New highs
New highs

Combined customer spending at Caesars Entertainment, DC Lottery’s Gambet brand, BetMGM, and Grand Central totaled $21.4 million in November, up 21.6 percent from $17.6 million in the same month of 2020 but down 18.6 percent from the record $26.3 million in October 2021. Revenue increased by 22.2 percent year-on-year from $3.6 million in November 2020, and it was also 175 percent higher than $1.6 million in October 2021. Caesars, which operates an online mobile sportsbook as well as a retail sportsbook inside Capital One Arena, was the clear market leader in D.C., earning $3.0 million on a handle of $13.9 million. The Caesars sportsbook was formerly managed by William Hill, but it was renamed after Caesars purchased the United Kingdom based operator in April 2021. Gambet, run by the DC Lottery and powered by Intralot, came in second with $1.1 million in revenue and $5.2 handle. BetMGM, which operates in Washington D.C. through a partnership with the Washington Nationals of Major League Baseball, reported revenue of more than $250,000 after processing $1.8 million in wagers. Finally, Grand Central Restaurant, Bar, and Sportsbook, which began operations in the market in early October 2021 in collaboration with Elys Game Technology, reported over $60,000 in revenue from a handle of almost $500,000.

COPYRIGHT_WI: Published on https://washingtonindependent.com/dc-gambling-revenue-reaches-new-record/ by Landon Morton on 2022-01-14T02:54:15.867Z

Retail sports betting
Retail sports betting

Neighboring state Maryland has finally opened its regulated sports betting market in December, with state Governor Larry Hogan placing the first legal bet at MGM National Harbor.

The Sports Wagering Application Review Commission, established by the Maryland Lottery and Gaming Commission, issued in December five sports betting licenses to land-based venues, with projections for taking the first legal bets within two months.

The venues which were able to secure licenses include Caesars Entertainment’s Horseshoe Casino in Baltimore, MGM National Harbor in Oxon Hill, Cordish Companies’ Live! Casino & Hotel in Hanover, Penn National’s Hollywood Casino in Perryville, and Churchill Downs’ Ocean Downs Casino in Berlin, with all five having been previously cleared by the Maryland Lottery and Gaming Commission to receive licenses.

Governor Larry Hogan marked the milestone by making the state’s first bet on the Washington Football Team to face the Baltimore Ravens in Super Bowl LVI, to be played in February 2022, at the MGM National Harbor, which was the first venue to launch its regulated retail sportsbook.

“Today marks the culmination of more than a year of effort to get sports betting up and running here in the State of Maryland,” Governor Hogan said at the occasion. “In addition to allowing Marylanders to bet on football, basketball, and more, sports betting will also help to keep more dollars in-state and will provide another critical revenue source for public education without raising taxes on families and small-businesses.”

“The BetMGM Sportsbook & Lounge at MGM National Harbor is a key component to making the capital region one of the country’s premier sports betting hubs,” BetMGM chief executive Adam Greenblatt said. “In partnership with the MGM National Harbor team, we’ve designed a world-class destination for sports fans.”

Share: Twitter | Facebook | Linkedin

About The Authors

Landon Morton

Landon Morton - Landon is a professional character coach, motivational speaker, and consultant who values commitment, service, and excellence. Landon brings to your company valuable insights gained from his battlefield experience as a decorated combat veteran, enabling you to unleash the untapped potential of your employees. He illustrates how the invaluable talent that each individual brings to your company will positively affect your mission through real-world examples.

Recent Articles

  • Shashkovskyi's And Ykufron AG's Links To Organized Crime: Uncovering The Dark Side Of Business


    Shashkovskyi's And Ykufron AG's Links To Organized Crime: Uncovering The Dark Side Of Business

    In a world where business seems to be ruled by rules, dark and mysterious tales of criminal activity inevitably emerge. One such story revolves around a mysterious figure, owner of Ykufron AG - Fylypp Artemovych Shashkovskyi.

  • Unleash Your Business Potential With Cloud Data Management


    Unleash Your Business Potential With Cloud Data Management

    Are you ready to take your business to the next level? Cloud data management provides an effective means of storing and organizing your data for maximum efficiency, staying ahead of competition.

  • Why Finding The Right LEI Registration Agent Is Vital


    Why Finding The Right LEI Registration Agent Is Vital

    Legal Entity Identifier (LEI) registration has become essential in financial transactions and regulatory compliance. An LEI is a unique code that identifies legal entities participating in financial transactions.

  • Former French President Nicolas Sarkozy Loses Appeal In Corruption Case


    Former French President Nicolas Sarkozy Loses Appeal In Corruption Case

    Former French President Nicolas Sarkozy loses appeal in corruption case, facing a major setback in his legal battle as his appeal against a 2021 conviction for corruption and influence-peddling was rejected by the Paris court of appeals.

  • Lizzo Weight And Height, Lifestyle, Career, And Achievements


    Lizzo Weight And Height, Lifestyle, Career, And Achievements

    Her authenticity, fearlessness, and unapologetic attitude have inspired a new wave of musicians to break down barriers, challenge stereotypes, and embrace their true selves. Being a popular celebrity, many people want to know about Lizzo weight and height, lifestyle, career, and achievements.

  • Best PC Headphones No Mic - Comfort Meets Performance


    Best PC Headphones No Mic - Comfort Meets Performance

    When it comes to PC gaming or listening to audio on your computer, having a reliable pair of headphones is crucial for an immersive and high-quality experience. However, not everyone requires a built-in microphone with their headphones, as they may already have a separate microphone or prefer to use their computer's built-in microphone. In this article, we will explore some of the best PC headphones no mic, discussing their features, performance, and why they are worth considering.

  • Beats Headphones Vs Bose - Which Brand Offers The Best For You


    Beats Headphones Vs Bose - Which Brand Offers The Best For You

    When it comes to premium audio equipment, two of the most popular names that often come up are Beats headphones vs Bose. Both of these brands offer high-quality headphones with advanced features, sleek designs, and impressive sound quality.

  • 3 In 1 Rotating Game Table - Space-Saving Entertainment


    3 In 1 Rotating Game Table - Space-Saving Entertainment

    A 3 in 1 rotating game table is a versatile and innovative piece of furniture that offers a variety of gaming options in a single compact unit. Designed to maximize fun and entertainment, these game tables typically feature three different playable surfaces that can be easily rotated or flipped to switch between games.

  • Blinding Headlights - U.S. Drivers Complaining Yet Again


    Blinding Headlights - U.S. Drivers Complaining Yet Again

    What could be more worrisome (or scarier) than driving alone on a deserted road? Well, several vehicles going in the opposite direction with blinding headlights. Too much brightness can distract you and ruin your focus - and that’s dangerous!

  • Tianyancha - The Ultimate Business Data Platform

  • EXWeb - A Revolutionary Platform For Web Development

  • IRacing Planner - Your Path To Success

  • EZTV RE - A Tale Of Online Piracy

  • Peter Stormare - Journey From Sweden To Hollywood