FanDuel Continues to Produce in DC Market in June

One of our best sports betting sites continues to transform the once-disappointing DC sports betting market.

According to June’s revenue figures from the DC Lottery Sports Wagering Monthly Report, FanDuel continues to crush things in the Nation's capital. 

Despite an expected month-over-month drop in sports betting handle and revenues due to the small menu of sporting action during June, year-over-year figures have identified massive improvement.

The improvements coincide with the FanDuel takeover as principal operator in partnership with Intralot. In the three months since it took over from the underwhelming GambetDC, the former has accounted for about 8.5% of the lifetime handle for DC sports betting operators.

Competition in DC's previously beleaguered legal sports betting industry should help improve the District's scene overall. DraftKings became the newest DC sports betting app on July 26, and Caesars and BetMGM are now available jurisdiction-wide instead of being confined to a two-block radius of arenas and stadiums they are in partnership with.

$29.6 million in bets accepted in June

DC sportsbooks accepted a total of $29.6 million in wagers in June. That figure represents a typical and expected 22% month-over-month summer sports betting slowdown from $35.4 million generated in May. FanDuel was responsible for 78% of those wagers ($23.2 million).

It is the primary reason that the market saw a whopping 165.7% year-over-year wagering increase during the month, compared to just $11.15 million in bets accepted last June. You can check out the behemoth's offerings using our FanDuel promo code.

Since launching as the primary DC Lottery partner in mid-April, FanDuel has hit a $68.5 million handle, 8.5% of the four-year lifetime handle from the DC legal sports wagering scene.

GambetDC, the former principal partner of the DC Lottery, produced just $66.4 million in handle in 2023.

Nearly $4 million in revenue

DC's best sportsbooks combined for nearly $4 million in revenue in June. While this is a 25% month-over-month profit decline, it is more than eight times better than the nearly $465K in revenues reported last June, when sportsbooks suffered from a 4.3% hold.

In June, FanDuel was responsible for over 90% of the sportsbook's revenue, thanks to its third straight 15%-plus monthly hold. 

Its $11.3 million in sports betting revenue in the last three months surpassed the previous combined 18-month total of $9.5 million generated by the GambetDC brand by nearly 20%.

It all resulted in $1.5 million in tax revenue from the District’s adjusted gross revenue, taking the year-to-date total to $5.1 million. That's about 40% of the total taxes paid since launching the legal sports betting platform in the jurisdiction four years ago.

FanDuel has now paid about $4.5 million in taxes since mid-April, more than DC sportsbooks paid in the last two years combined. It is also more than the $4.3 million in taxes paid by GambetDC in four years of operation.

Better things on the horizon

After years of underwhelming results for the legal DC sports betting industry, the scene has officially turned a corner.

Instead of just one sportsbook being available District-wide, four are now available to compete for mobile market share. Along with FanDuel, DraftKings can be downloaded and used throughout the jurisdiction. Caesars and BetMG’s presence has also been extended past the immediate areas surrounding their retail location. 

This means that four of our best sports betting apps are available for residents from border to border, and that there are more DC sportsbook promos available to bettors in the district.

With September on the horizon, optimism and expectations are sky-high, heading into an NFL season for the first time ever.