The sportsbook platform of MGM Resorts International is gaining momentum in its new jurisdiction of Washington, DC, with a sports betting handle of $643,498 in July.
BetMGM Scores Second Strong Month in Washington, DC
BetMGM reported a sports betting handle of $643,498 in the Washington, DC, market in July, and was the only operator to experience growth during the month. Although BetMGM’s DC share stood at just 5% during its first full month of operation, it has been gaining momentum after debuting on the market in June through a deal with the Washington Nationals.
Before June, there were only two players operating in the District of Columbia – GambetDC, which is run by the local lottery, and William Hill. The latter has been the undisputed leader since the launch of the market and, although BetMGM has removed some of its revenue, a certain period of time will pass till William Hill feels the impact of the new competitor on its numbers.
BetMGM’s revenue in July amounted to $148,796, compared to GambetDC’s $432,726. DC Lottery’s sportsbook reported a $2.152m handle, accounting for 16.8% of the total market share. William Hill had a total handle of $10.013m and revenue of $1.22m reflecting a 78.2% market piece.
William Hill’s handle share posted a monthly decrease of 2.2% in July, while GambetDC had a 0.8% decline. BetMGM was active only in the mobile betting segment, as its retail venue at Nationals Park is not yet open. Apart from BetMGM, the District will see various sportsbook openings in the upcoming months.
BetMGM Needs Physical Sportsbook
BetMGM is expected to increase its handle after the opening of its sportsbook outside Nationals Park. The establishment will feature betting windows and electronic betting kiosks, as well as food and drink offerings.
BetMGM’s new sportsbook will welcome players outside the centerfield gate at Nationals Park all year-round. Fans will not be able to place bets in the venue while attending games inside the ballpark but will have BetMGM’s mobile app at their disposal.
The Chicago Cubs are expected to open a sportsbook near Wrigley Field in cooperation with DraftKings. DC sports venues are becoming a hotspot for retail sportsbooks, with William Hill opening a venue at Capital One Arena last year and D.C. United set to unveil a FanDuel sportsbook at Audi Field this year.