Washington DC sports handle drops 33% in Ocotber
Washington D.C. and its mobile sports betting application have shown very little interest among residents in the District as recent numbers have shown.
When sportsbooks were originally made a legal business, D.C. it estimated a near $23 million profit through annual revenue. From August through to October, only $16.4m was seen in handle and a paltry $237,000 in revenue.
That’s a little over 2 months of time which would mean at this rate, the industry would gain $2.37 million in revenue for the year.
That’s ten times less than their original projections for the market.
There are a number of contributing factors, like major sports being on hiatus until mid-July but other states have done much better with similar situations. That’s why people in the Washington D.C. sports betting industry are asking, what gives?