FanDuel took over for GambetDC as DC Lottery’s official sports wagering platform on April 14 and has already brought more plentiful returns to the Nation’s Capital.
The D.C. Office of Lottery and Gaming (OLG) announced that FanDuel’s sports wagering app and website generated $1.9 million in revenue for the District in its first 30 days of operation from April 15 through May 14.
The $30 million handle is a 673% increase over the same period in fiscal year 2023, and the $5 million in gross gaming revenue (GGR) is a whopping 887% year-over-year increase.
“The transition to FanDuel, the market leader in mobile sports wagering, ensures the long-term viability of mobile sports wagering in the District," raved Frank Suarez, the executive director of OLG.
"In addition to a 40% share of GGR and a guarantee of $5 million in revenue in its first year, the FanDuel partnership brings the benefits of a respected brand, commitment to responsible gaming, an established userbase, and a superior sports wagering experience for District residents and visitors. FanDuel’s first 30 days have not only met, but exceeded expectations.”
The OLG faced tons of backlash for GambetDC’s performance over the last few years, so it’s taking every opportunity to show that its righting its wrongs. Earlier this month, a spokesperson from OLG told Covers that FanDuel had generated $13.5 million in handle and $2.3 million in GGR in just its first 14 days of operation in the D.C. sports betting market. Much like the full-month metrics, these 14-day marks were substantially higher than what GambetDC mustered in the same timeframe last year, with a 371% increase in handle and 1,325% boost in GGR.
No comparison
No one was happy with GambetDC as the one and only online sportsbook in Washington, D.C. Customers complained of poor functionality and an underwhelming user experience, and district officials lamented the missed opportunity for financial gain.
The $1.9 million in city revenue driven by FanDuel’s first month in D.C. is a 690% increase over the same period last year. In fact, GambetDC had only brought in $4.3 million total from 2020 to early 2024, despite the fact that the city lawmakers had projected more than $80 million in the four-year span.
When the operator was approved to take the reins on the D.C. online sports betting market in March, FanDuel projected to generate $119 million in revenue for the District in its first five years. That’s nearly 30 times greater than what’s been generated by GambetDC to this point.
More sportsbooks in D.C.?
Bettors can wager on the FanDuel sports wagering platform all throughout the city, which is helpful since FanDuel is also a major player in the neighboring Virginia and Maryland sports betting markets.
FanDuel will also gradually replace GambetDC’s existing in-store gaming kiosks throughout the District, but it won’t be the only operator offering retail sports betting in D.C.
BetMGM and Caesars also both have prominent presences in the nation’s capital since they operate retail sportsbooks at Nationals Park and Capital One Arena, respectively. Both operators can offer geofenced mobile betting within a two-block radius of these respective locations, so patrons of either BetMGM or Caesars Sportsbook can wager on their usual platform if and only if they are within range of the venues.
FanDuel already had a retail sportsbook in D.C. at Audi Field where the MLS’ DC United plays, which became the first physical sportsbook to be located at an MLS venue in the U.S.
There is currently a proposal in the city council to change the District’s regulations governing sports betting to create a more competitive, open market that more operators could enter. If passed, this could position BetMGM and Caesars to take advantage, but there are concerns from both the operators and other council members about the logistics of this proposal.
For now, FanDuel will enjoy a near-total monopoly over online sports betting in D.C., and so far, that’s worked out quite well for it.
