FanDuel’s Washington D.C. debut is less than a week away as the operator gears up to launch in a new market.
Fantasy and sports betting heavyweight FanDuel has announced it will go live in Washington D.C. on April 15.
As part of its takeover of GamebetDC, the operator is launching its online sports betting offering after the district’s Office of Lottery and Gaming (OLG) confirmed FanDuel as a subcontractor of Intralot last month.
Intralot has powered GamebetDC since 2019. Holding exclusive online sports betting rights in D.C., Gamebet DC has been criticised for poor performance and bad odds.
As a result, FanDuel has been brought in by the OLG to replace GaembetDC.
FanDuel will operate in Washington D.C. under its closed market. This restricts the use of non-exclusive sportsbooks beyond a two-block radius of the district’s professional sports venues.
These facilities include the Capital One Arena, Audi Field and Nationals Park. FanDuel’s takeover also includes all of GamebetDC’s retail operations.
The switch in service provider from GamebetDC to FanDuel is hoped to create new economic opportunities in Washington D.C.
In FY2024, Intralot will pay the OLG $5 million. GamebetDC has added just $4.3m to D.C.’s economy since 2020, despite estimates projecting the figure would be $84m.
Lawmaker Hopes To Five FanDuel Competition In Washington D.C.
Council member Kenyan McDuffie announced last month a plan to introduce the Sports Wagering Amendment Act of 2024.
This bill would create an open betting market in D.C. and ensure competition. McDuffie’s proposed amendments to D.C.’s lottery would include a new class of wagering license for online operators.
These measures would grant Class C licenses in partnership with pro sports teams. If given such a license, operators would be required to pay $2m for a five-year term, with a $1m renewal fee.
Tax rates for sports betting revenue would also be set at 30% for operators.
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