Washington DC Revenue Numbers Have Already Surpassed its 2023 Totals

Sports betting is booming in the nation’s capital.

Washington, D.C., has released its August numbers, and they show some impressive numbers. The market continues to trend up during the NFL season, leading to the current revenue total (204.2 million) over the last eight months surpassing those from 2023 (169.7 million). While we don’t know the final total for the year, it will most certainly break all previous industry records for the District.

The District’s impressive 2024 numbers generated 26.1 million in tax revenue, up from the 19 million generated in 2023.

While the year’s revenue numbers are impressive, they are hardly surprising. The District had GameBetDC as its only operator when sports betting launched there in March 2020. They hoped it would average $20 million in tax revenue per year, but only $4.3 million had been generated when the District pulled the plug on GameBetDC earlier this year.

FanDuel replaced GameBetDC in the spring but only had about two months as the sole operator in the market. A new budget proposal was approved over the summer, creating more operating licenses and allowing more sportsbooks to enter the once-dying market.

FanDuel is joined by Caesars, BetMGM, DraftKings, and Fanatics in the District’s sports betting market.

FanDuel Continues to Dominate Market

FanDuel was angered by the District’s decision to expand its sports betting market. The operator was told they would be the only platform available when they launched, but the District’s City Council changed course just two months later.

While the expansion brought fresh competition, FanDuels’ head start in the market has paid off. They have a handle of $52.61 million over the first eight months of 2024, higher than the other three operators combined. They dominated in revenue for September, showing that bettors are sticking with them despite the newly added options.