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The DC Office of Lottery and Gaming (OLG) has reported strong performance for the new FanDuel mobile sportsbook in its first 30 days of operation.
During this period, FanDuel’s app and website generated approximately $30m in handle (dollars wagered) and $5m in gross gaming revenue (GGR), contributing to the District’s revenue.
Launched on 15 April 2024, FanDuel replaced GambetDC as the District’s official sports wagering platform. In comparison to the same period in the previous fiscal year, the new platform has seen a 673% increase in handle and an 887% increase in GGR.
This transition has provided the District with a 40% share of the GGR, resulting in an estimated $1.90m in revenue for the District in the first month, marking a 690% increase over the same period last year.
Frank Suarez, OLG Executive Director, said: “The transition to FanDuel, the market leader in mobile sports wagering, ensures the long-term viability of mobile sports wagering in the District.
“In addition to a 40% share of GGR and a guarantee of $5m 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.”
From September 2023 through February 2024, the District’s per capita sports wagering revenue was $2.71. Based on FanDuel’s first 30 days of operation, projections suggest that this p could rise to over $19, potentially placing Washington DC among the highest per capita revenue-generating markets in the country.
The transition to FanDuel also affects former GambetDC users, who have until 15 October 2024 to withdraw their funds from the platform. This changeover is part of a phased approach that will also extend to retail locations by the end of 2024.
FanDuel’s entry into the DC market follows its partnership with the Carolina Panthers in North Carolina and the acquisition of BeyondPlay, a B2B iGaming technology company, aimed at enhancing its iGaming product offerings.
