At long last, our nation’s capital is getting top professionals to take over its sports betting scene. The D.C. Office of Lottery and Gaming revealed this morning that FanDuel is set to become the sole operator of Washington D.C. sports betting starting in the spring.
The lone sportsbook in Washington has been GambetDC since the city launched sports betting in the spring of 2020, but it was immediately a fraught endeavor. GambetDC is run by the same company that provides D.C. its lottery, and sports bettors have not been shy about tearing into GambetDC’s uncompetitive odds, poor markets and overall glitchy app.
Per the Washington Post, the Washington D.C. city council claimed in 2019 that GambetDC would earn the city $20 million in profits annually — the estimate at the time was $84 million by January 2024.
The real number? $4.3 million. In fact GambetDC lost money one month, which is almost impossible to do at this point in the rise of American sports betting.
So now Washington is turning to the best to save its industry. FanDuel is reportedly promising $45 million for the city in five years but projecting almost three times that: $119 million. Needless to say, if that comes to fruition, Washington will look back on GambetDC’s $4.3 million, four-year run as, frankly, a complete waste of time and resources.
FanDuel is the best right now, at least for beginning to intermediate bettors, which is basically most of Washington D.C. clientele at the moment. Expert bettors were fed up with GambetDC years ago, presumably. Now even GambetDC’s retail kiosks are set to be replaced by FanDuel machines, with a time estimate of summertime.
So congrats, Washington. You’re finally in good hands. Heck, not just that — it’s great that you’re finally in someone’s hands at all.
