Betting News 
FanDuel continues to dominate the Washington, D.C. sports betting market, even after the recent entry of Caesars Sportsbook, BetMGM, and DraftKings into the online sports betting space. The Office of Lottery and Gaming reported a total of $39.6 million in sports bets for August 2024, with FanDuel leading the way.
The district’s online sports betting market expanded in mid-July, allowing up to seven operators to enter the market. Despite the increased competition, FanDuel remains the top choice for bettors.
FanDuel Maintains Strong Hold
Since taking over from GambetDC in April, FanDuel has been the preferred sports betting operator in Washington, D.C. In August, FanDuel reported $21.7 million in total sports betting handle, resulting in $2.7 million in gross gaming revenue and over $550,000 paid in taxes to the district.
Even with the addition of three other operators, FanDuel’s strong performance reflects the trust and popularity it has built among bettors in the district.
Here are the full handle and tax revenue totals for August:
- Caesars Sportsbook: $5,396,299 handle, $64,375 in tax revenue
- BetMGM: $5,162,492 handle, $90,117 in tax revenue
- FanDuel: $21,669,798 handle, $550,350 in tax revenue
- DraftKings: $7,405,304 handle, $262,550 in tax revenue
New Players Enter the Market
The Washington D.C. City Council approved a new fiscal budget in June, allowing up to seven online sports betting operators to do business in the district. By mid-July, Caesars Sportsbook, BetMGM, and DraftKings joined FanDuel in the online betting space. Unlike the others, DraftKings only holds an online sports betting license, while the rest also operate retail sportsbooks in D.C.
Fanatics Sportsbook Launches in D.C.
Fanatics Sportsbook entered the Washington, D.C. market last week through a partnership with the Washington Spirit, becoming the team’s official sports betting partner. The sportsbook launched on Thursday, Sept. 12, marking Fanatics Betting and Gaming’s first sponsorship deal with a professional women’s sports organization.
Fanatics Sportsbook operates under a newly introduced Type-C license, which was made available following the City Council’s decision to expand the online sports betting market. The Type-C license allows sports franchises to partner with a sports betting operator to conduct online sports betting and is taxed at 30% of gross gaming revenue. The license costs $2 million for a five-year term, with a $1 million renewal fee after the initial term.
FanDuel’s Continued Success
Despite the entry of new operators, FanDuel remains the dominant player in the Washington, D.C. sports betting market. The sportsbook’s ability to maintain a strong handle and generate significant tax revenue underscores its position as the top choice for D.C. bettors. As Fanatics Sportsbook enters the scene and other operators establish themselves, it will be interesting to see how the competitive landscape evolves in the coming months.
