Washington DC sports handle drops 33% in Ocotber

Sports Betting

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When sportsbooks were originally made a legal business, D.C. it estimated a near $23 million profit through annual revenue.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?