FanDuel to Replace GambetDC as Primary Operator in Washington, DC
FanDuel Acquiring GambetDC: Transition Underway this Spring
The sports betting landscape in Washington, D.C. is shifting.
The Office of Lottery and Gaming announced Monday that industry giant FanDuel will be replacing GambetDC as DC’s sports gambling operator.
This comes amidst significant concerns about the viability of GambetDC in an ever-changing market.
This means that residents of the nation’s capital will soon be able to bet on FanDuel’s mobile app as opposed to the GambetDC platform, which has consistently underperformed.
“I’ve heard from many residents about their unease with the district’s woeful performance on sports betting,” Kenyan McDuffie, chair of the D.C. Council Committee on Business and Economic Development, said at a recent hearing via Sportsbook Review. “I absolutely share those same sentiments, from issues around usability, customer service, and seriously declining revenue. We know the current model simply is not working.”
Here is more on FanDuel acquiring GambetDC.
Transition in Place
The transition is expected to take place later this spring, with FanDuel becoming the new subcontractor for European outlet Intralot. As part of that, Intralot will handle operating costs associated with the DC legal sports betting platform, which is in for a healthy revenue boost thanks to FanDuel’s presence.
“FanDuel’s industry-leading offering will ensure that the District maximizes tax revenue under its existing contracts this year while delivering a best-in-class experience for residents (age 18 and older),” Frank Suarez, executive director of the OLG, said via Sportsbook Review.
With FanDuel acquiring GambetDC, it is poised to be the only Washington, D.C. betting app available to residents throughout most of the District. BetMGM and Caesars Sportsbook operate brick-and-mortar locations at Nationals Park and Capital One Arena, respectively. Both locations also offer mobile betting within a limited radius.
Again, this change will take some time, as GambetDC kiosks will need to be replaced throughout Washington, D.C. However, it is expected to be worth the wait. The OLG estimated that these kiosks will see up to two times greater revenue from sports betting in the future.
More specifically, FanDuel has promised at least $45 million in revenue over the first five years, far exceeding Gambet’s totals since its 2020 launch.
As it is, FanDuel is among the best online sports betting sites in the U.S., rivaling only DraftKings from a revenue standpoint. Without hardly any competition in the District, FanDuel should continue to flourish.
GambetDC, which also operates Washington, D.C,’s lottery system, never really gained popularity as bettors complained about poor odds and technical problems. That led to far worse results than expected.
Landscape at a Glance
Online sports betting is now legal in 30 U.S. states, with Washington, D.C., still its smallest market. Initial projections had GambetDC collecting $84 million over its first three years, causing legislators to question why the District had not shifted to a more prominent sports betting website.
FanDuel certainly qualifies as such. Welcomed changes are now in store for the District.
Stay tuned for more updates on FanDuel acquiring GambetDC.
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