D.C. Sports Betting Market Hits Record High with $40.6 Million in Wagers

This surpassed the previous record of $35.4 million, which was set in May, the first full month FanDuel became the D.C. Lottery’s official sportsbook partner.

Revenue Figures Fall Short of Previous Highs

Despite the record handle, D.C.’s combined gross sports betting revenue in August fell short of previous highs. The district’s sportsbooks generated $4.5 million in revenue, nearly $1 million less than the $5.4 million collected in May. T

FanDuel, which transitioned to a Class A licensee in July through its partnership with Audi Field, handled more than half of all wagers placed in D.C. last month.

The sportsbook took in $21.7 million in bets, generating $2.8 million in revenue with a 12.7% hold. As one of the district’s leading operators, FanDuel continues to dominate the local market.

DraftKings, Caesars, and BetMGM Make Strong Contributions

DraftKings, operating under a Class C license without a retail presence in D.C., contributed $7.4 million to the record-breaking handle in its first full month. The operator generated $875,200 in revenue from this activity.

Meanwhile, Caesars and BetMGM, now operating as Class A sportsbooks, also posted solid results. Caesars took in a year-best handle of $5.4 million, although its revenue remained low at $321,900 with a win rate below 6%. BetMGM handled $5.2 million in wagers, earning $450,600 in revenue.

The tax contributions from these operators added up to $1.1 million for August. D.C.’s tax structure for sports betting operators varies based on their licensing status. FanDuel, as a Class A licensee, now pays 20% of its revenue in taxes, down from the 40% it paid when it held a district-wide monopoly earlier in the year. DraftKings, as a Class C operator, faces a lower tax rate of 10%.