Washington DC Sees Betting Boom With Launch Of FanDuel

, , ,
Written By Giovanni Shorter | Last Updated
FanDuel Washington DC

Washington D.C. has released its April sports betting report. The D.C. Lottery had appointed FanDuel as the district’s online sports betting operator. FanDuel Sportsbook in Washington D.C. launched on April 15. With FanDuel taking over for GambetDC, there has been an immediate increase in betting activity in Washington.

FanDuel Enters Washington DC With A Bang

The report shows that D.C. Sportsbooks saw $26.6 million in betting handle for April. FanDuel raked in $15.6 million in handle on its own in April where it was only active for half the month. FanDuel’s handle alone nearly matched the entire March betting handle in Washington D.C. of $16 million. March’s handle was a 30.8% increase over February. April’s total handle is up 69.2% month over month.

Taking a further look, the D.C. Lottery released the success of FanDuel over the first 30 days of activity. From April 15 through May 14, FanDuel saw approximately $30 million in wagers and $5 million in gross gaming revenue. This represents a 673% increase in betting handle and 887% increase in GGR year over year over the same period.

“The transition to FanDuel, the market leader in mobile sports wagering, ensures the long-term viability of mobile sports wagering in the District,” said 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.”

Expected Continued Growth

FanDuel came in to replace GambetDC after the Intralot run product disappointed fans and lawmakers. GambetDC underperformed in D.C. despite having a monopoly on regionwide online betting. Many locals simply traveled to Maryland or Virginia in order to wager at other sportsbooks rather than use GambetDC.

The switch to FanDuel was predicated on keeping the tax dollars in D.C., and so far, it has been working. The spike in activity shows that fans are choosing FanDuel in Washington D.C. to wager. Lawmakers expected this success, and are looking forward to the growth continuing.

Photo by Shutterstock