Washington D.C. Lottery’s GambetDC Sports Betting App Loses Millions in First Year of Operation

Analysts had expected the app to generate revenues of $6.2 million (€5.67 million) in 2021 and some estimates predicted that this could rise to as much as $20 million (€18.3 million) in the coming years. However, thanks to a lackluster display in 2021 and criticism of the app and its technology, 2022 revenue predictions are now a much more modest $1.5 million (€1.37 million).

The app launched much later than expected in May of 2020 at the height of the global pandemic and when sporting events were mostly postponed or cancelled. It is the only mobile sports betting app in the district that can be used anywhere in Washington D.C. Other apps are limited to a two-block radius of the retail sportsbook they are tethered to.

“The model is a good one. Right now, compared to some of the other models, it’s set up to give you the most return on revenue. The way the model is structured is solid and it helps the District…drive local business and the economy. And so it is a solid model. We have to be very realistic abut the expectations of the revenue. We know a lot more know than we used to.”

Speaking of the poor revenue and previous estimates he added:

Natasha Lyndon

Based in London, Natasha is a former sports journalist with experience working for some of the biggest athletes & brands in the world of sports and iGaming.