Sports Betting

Washington D.C. set a monthly handle record with FanDuel as their official sportsbook

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FanDuel Washington D.C.

On April 15, FanDuel launched in Washington D.C. as their official sportsbook. FanDuel replaced Gamebet DC. The Office of Lottery and Gaming (OLG) approved FanDuel to be a subcontractor for Intralot. They were the Greek gaming solutions supplier for GamebetDC. It took complaints from users over time to finally persuade D.C. to make a change to their sports betting presence. GameebtDC was not getting the job done. 

With FanDuel taking over, the D.C. lottery saw immediate dividends. They recorded a sports betting handle of $26.6 million in April. A brand-new monthly betting handle record for D.C., courtesy of the help of FanDuel. Office of Lottery and Gaming director Frank Suarez had this to say about the success that FanDuel has helped bring to D.C.

The transition to FanDuel, the market leader in mobile sports wagering, ensures the long-term viability of mobile sports wagering in the District,” – said Suarez. “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 user base, and a superior sports wagering experience for District residents and visitors. FanDuel’s first 30 days have not only met, but exceeded, expectations.”

FanDuel has changed how profitable Washington D.C. can be as a sports betting market

Washington D.C.’s previous monthly betting handle record was $24.9 million in October 2021. Additionally, overall sports betting revenue in D.C. has topped $3.5 million. It’s highest since September 2022. That was $1,300 short of being top-five all-time in the nation’s capital. FanDuel was first available on April 15, 2024, and customers had 16 days to bet in April. Their monthly betting handle was $136,000 short of matching the handle set in March. 

On top of that, FanDuel had an 18.2% hold and collected $2.8 million as D.C.’s lottery operator. That’s more than 80% of the total winnings in April. Year-over-year, the handle in D.C. was up 88.6% and revenue was up an impressive 148.7%. FanDuel has increased the amount of bets accepted in D.C. by a tremendous amount. In all of 2024, GamebetDC accepted 559,553 wagers. In 16 days, FanDuel accepted 685,797 total bets. Proving how effective a media giant like FanDuel can be.