- FanDuel kept its top spot in D.C. sports betting
- The district opened its online sports betting market up to several operators in July
- The first month of sports betting led to nearly $40 million in bets
FanDuel remains the top choice for bettors in Washington, D.C. despite the online sports betting market being opened up to three other operators.
The Office of Lottery and Gaming reported $39.6 million in sports bets for the month of August. The Washington, D.C. City Council opened the online sports betting market up to three other online sports betting operators in mid-July.
For the past several years the district only had one operator available for customers, GambetDC, before replacing the struggling operator with sports betting giant FanDuel this past April.
FanDuel Tops Other Four Operators
Members of the Washington, D.C. Council approved the District’s fiscal year budget on final reading in late June, which included language to allow up to seven online sports betting operators to do business in the district.
The new rules went into effect in the district in mid-July, with Caesars Sportsbook, BetMGM, and DraftKings joining FanDuel in the district’s online sports betting market. FanDuel had been the lone online sports betting operator in D.C. since April after taking over for GambetDC.
August was the district’s first full month with four operators, but bettors still flocked to place their wagers with FanDuel. The sports betting company reported $21,669,798 in total sports betting handle for the month, leading to $2.7 million in gross gaming revenue. FanDuel paid more than $550,000 in taxes to the district for the month.
FanDuel, BetMGM, and Caesars Sportsbook all have retail and online sports betting presences in the district. DraftKings only has an online sports betting license.
Here are the full handle and tax revenue totals for August:
- Caesars Sportsbook: $5,396,299 handle, $64,375 in tax revenue
- BetMGM: $5,162,492 handle, $90,117 in tax revenue
- FanDuel: $21,669,798 handle, $550,350 in tax revenue
- DraftKings: $7,405,304 handle, $262,550 in tax revenue
Fanatics Now Live in D.C.
Fanatics Sportsbook launched in the district last week after announcing a market access agreement and partnership with the Washington Spirit. As part of the agreement, Fanatics Betting and Gaming is now the team’s official sports betting partner. The sportsbook launched in D.C. on Thursday, Sept. 12.
The partnership with the Washington Spirit is Fanatics Betting and Gaming’s first sponsorship deal with a professional women’s sports organization.
Fanatics Sportsbook will offer online sports betting through a new Type-C license. The D.C. City Council expanded the district’s online sports betting market over the summer, allowing the existing Type-A sports betting license holders to offer online sports betting and outside operators to apply for a newly created Type-C licenses.
The new class of license allows sports franchises in the district to partner with one sports betting operator to conduct online sports betting. Type-C license holders are taxed at a rate of 30% of gross gaming revenue and will cost $2 million to acquire for five years. A $1 million renewal fee will be required after the initial term runs out.
FanDuel Continues to Lead the Washington, D.C. Sports Betting Market
In the rapidly growing world of sports betting, FanDuel has emerged as a dominant player in the Washington, D.C. market. With its user-friendly interface, wide range of betting options, and competitive odds, FanDuel has quickly become the go-to choice for many sports fans in the nation’s capital.
One of the key factors driving FanDuel’s success in Washington, D.C. is its strong partnerships with local sports teams. FanDuel has secured deals with the Washington Football Team, the Washington Wizards, and the Washington Capitals, giving it exclusive access to team logos and branding for its betting platform. This has helped FanDuel establish a strong presence in the local sports community and build trust among fans.
In addition to its partnerships with local teams, FanDuel offers a wide range of betting options for sports fans in Washington, D.C. From traditional bets on game outcomes to more exotic prop bets and live betting options, FanDuel provides something for every type of sports bettor. Its easy-to-use platform and mobile app make it simple for users to place bets on their favorite teams and events from anywhere in the city.
FanDuel also stands out in the Washington, D.C. market for its competitive odds and promotions. The company regularly offers special deals and bonuses to attract new customers and keep existing ones coming back for more. This commitment to customer satisfaction has helped FanDuel build a loyal following in the city and establish itself as a leader in the sports betting industry.
As the sports betting market in Washington, D.C. continues to grow, FanDuel shows no signs of slowing down. With its strong partnerships, diverse betting options, and competitive odds, FanDuel is well-positioned to maintain its position as the top choice for sports bettors in the nation’s capital. Whether you’re a seasoned bettor or just getting started, FanDuel offers everything you need to enjoy the thrill of sports betting in Washington, D.C.
