FanDuel to take over as Washington DC’s sports betting brand

Flutter Entertainment’s FanDuel is taking over as operator of the DC Lottery’s sports betting business.

FanDuel will take over as the new sports wagering subcontractor for Intralot under the new agreement, replacing the lottery’s GambetDC brand in Washington DC.

The change will also see current operator and technology supplier Intralot assume the operating costs associated with sports betting.

In relation to this, Intralot will pay an initial $5 million fee to the Office of Lottery and Gaming (OLG) within the current fiscal year, with this fee alone guaranteeing a significant revenue increase from sports wagering for the District in 2024.

Frank Suarez, executive director of OLG, said: “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 18+ residents”.

The OLG added that the new operations will leverage FanDuel’s strong national presence and 50 percent market share in neighboring states to serve Washington D.C.’s 20 million annual visitors, and to regain the participation of residents who currently engage in sports betting in neighboring states.

The new structure will see GambetDC’s existing in-store gaming kiosks replaced by FanDuel’s on a phased basis.

GambetDC was the leading brand in Washington DC’s regulated sports betting market in 2023, although it has underperformed since its launch online in June 2020.

It competed in retail, including in-venue online betting, with the likes of Caesars, BetMGM and FanDuel, and was the only authorised online wagering operator District-wide .

In 2023, players in Washington DC wagered $169.8 million with licensed operators. GambetDC claimed a 39 per cent share of the market on handle of $66.4 million, ahead of Caesars with a 36 per cent share and handle of $61.0 million. BetMGM was the third largest licensee by handle with a 16 per cent share at $27.7 million.