Gambet Surges in September while WH Maintains Dominance in Sports-Betting

Amounts wagered via Gambet, an available sports-betting app in the city, reached $3.3m in September. Customers won $2.8m, indicating a revenue of $498,896, marking a 79.4% improvement compared to August. The app recorded a total of 92,315 bets placed during the month, a 38.1% increase from August. So far, Gambet has accumulated a total of $6.4m in amounts staked, with customers reclaiming $5.4m. Assuming no adjustments, this translates to a revenue of $956,062 since the app’s launch in May. However, the performance of Gambet is overshadowed by William Hill’s retail-only offering at the Capital One Arena in the US capital, which opened in late July. In September, customers wagered $12.2m at the sportsbook, a month-over-month increase of 33.5%, and earned $10.9m, resulting in revenue of $1.3m. Despite an 8.4% decline from August, this revenue comfortably surpasses Gambet’s accumulated total so far. Additionally, betting at the William Hill book generated $130,540.26 in tax revenue for the city, thanks to the 10% tax on sportsbook gross revenue. Furthermore, the number of bets placed via William Hill sportsbooks also increased. In September, customers placed 113,052 wagers, a rise of 63.4%. Although the current location is temporary, plans for the construction of a permanent sportsbook have been revealed by William Hill. The permanent facility, operated through a partnership with Monumental Sports & Entertainment, owner of the venue and the city’s basketball and ice hockey franchises, is set to open early next year. Construction is pending necessary regulatory approval from the DC Lottery. The planned facility will include 12 ticket windows, 10 self-service kiosks, two VIP areas, and a large private dining and event space. “The success of the William Hill pop-up sports book has exceeded our expectations, and we’re excited to create the next phase of the sports fan experience with our permanent location inside the Capital One Arena,” said William Hill US president of retail operations David Grolman. (Source: InnovateChange North America)