March Madness drove a month-over-month decline in hold for sports betting operators in D.C. as the annual tournament reached a historic milestone regarding high-seeded teams.
According to data provided by the Office of Lottery and Gaming, licensed operators in D.C. reported total sports betting handle of $80 million, marking the highest monthly handle in the district since lawmakers created an open market after offering one operator.
The record handle was reached behind a March Madness tournament that saw all four No. 1 seeds make it to the Final Four for only the second time in the competition’s history. The men’s and women’s March Madness tournaments featured several D.C.-area college programs, including Maryland, George Mason, American, Liberty and Mount Saint Mary’s.
FanDuel closes as the top sportsbook in DC
The Flutter-owned brand posted a $42.5 million handle in March 2025 with prizes and payouts closing at $39.2 million for the month for a 7.7% hold. The $3.3 million in gross gaming revenue reported by FanDuel in March 2025 saw it pay $659,841 in gaming taxes.
By comparison, FanDuel saw its handle in February 2025 reach $27.5 million with prizes and payouts at $23.2 million for a 15.8% hold. That month, FanDuel generated $4.3 million in gross gaming revenue with the sportsbook paying $874,806 in tax revenue.
DraftKings also reported handle and revenue growth in March 2025 but closed the month far behind FanDuel. Last month, the Boston-based gaming giant reported a $17.8 million handle with prizes and payouts at $16.1 million. The 9.6% hold DraftKings posted in March 2025 was driven by its $1.7 million in gross gaming revenue. It paid $519,077 in taxes.
In February 2025, DraftKings saw its handle close at $13.8 million with a 13.9% hold behind $11.9 million in prizes and payouts. DraftKings generated $1.9 million in gross gaming revenue in February 2025. That month, the operator paid $580,809 in taxes.
Caesars closed as the third operator in D.C. for handle in March 2025 with the operator accepting $10.6 million in wagers. During the same period, the operator saw gross gaming revenue reach $151,461 behind the $10.5 million in prizes and payouts it reported.
The results saw Caesars close March 2025 with a 1.41% hold.
In February 2025, Caesars reported a 14.5% hold as it accepted $5.4 million in wagers with prizes and payouts at $4.6 million. That month, gross gaming revenue was $788,313.
BetMGM and Fanatics keep things close
Fanatics and BetMGM were in close competition in D.C. throughout March.
Last month, BetMGM reported a $6.9 million handle and a 3.6% hold behind $6.7 million in prizes and payouts. By comparison, BetMGM posted a $5 million handle in February 2025 with prizes and payouts at $4.9 million for the month. BetMGM’s hold closed at 0.36%.
Fanatics saw its March 2025 handle reach $6 million with prizes and payouts at $5.3 million. Last month, its hold closed at 9.3% with gross gaming revenue at $564,002.
By comparison, Fanatics reported a $4.8 million handle in February 2025 with revenue gross gaming revenue at $177,815 behind its $4.6 million in prizes and payouts.
That month, Fanatics posted a 3.6% hold.
ESPN Bet reports handle decline amid March Madness
ESPN Bet took a step back in March 2025 despite providing bettors with access to engage with its platform during the most popular amateur sports tournament in American sports.
The PENN-operated brand reported a $1.7 million handle in March 2025 with prizes and payouts at $1.5 million. By comparison, ESPN Bet closed February 2025 with a $2.6 million handle with prizes and payouts also at $2.6 million. Last month, the operator reported $221,934 in gross gaming revenue and a 12.3% hold. Its hold in February 2025 was 1.5%.
Total wager amounts in DC
The Office of Lottery and Gaming also provides total monthly wager figures for operators.
In March 2025, FanDuel led the group with 1.4 million in total wagers with DraftKings closing the month with 1.1 million wagers. Caesars posted 280,323 total wagers in March 2025 while Fanatics is emerging as a viable platform for bettors in D.C. as the operator reported 189,913 total wagers. By comparison, BetMGM reported 120,304 in total wagers.
Last month, ESPN Bet reported a total wager amount of 36,522 for its platforms. Retail operations at Sports & Social generated 1,466 in total wagers throughout March.
