The District of Columbia has struck gold with its new sports betting partner, FanDuel Sportsbook, surpassing revenue expectations in just one month. FanDuel replaced the troubled GambetDC on April 15 and quickly made its mark, generating $1.9 million in revenue from bets placed between April 15 and May 14.
Frank Suarez, Executive Director of D.C.’s Office of Lottery and Gaming, praised the partnership with FanDuel, citing the company’s market leadership in mobile sports wagering and commitment to responsible gaming. The deal includes a 40% share of gross gaming revenue and a guaranteed $5 million in revenue for the first year.
The Office of Lottery and Gaming predicts that if betting on FanDuel continues at its current pace, the district could become one of the top revenue-generating markets in the country on a per capita basis. This success comes as sports betting has rapidly expanded following the Supreme Court’s 2018 decision to lift a federal ban on it.
The District of Columbia legalized sports betting in 2019, with GambetDC as the original partner. Users have until October to withdraw funds from the now-defunct platform. With FanDuel’s impressive start, D.C. residents and visitors can look forward to a superior sports wagering experience and increased revenue for the district.