The DC Office of Lottery and Gaming (OLG) announced a successful transition to FanDuel as its new sports wagering platform. During its first 30 days of operation, the FanDuel mobile sportsbook app and website generated about $30 million in handle and $5 million in gross gaming revenue (GGR).
On April 15, OLG approved the launch of FanDuel’s mobile sportsbook as the District’s new official sports wagering platform. In its first month (April 15 through May 14), customer usage on the platform generated an increase of 673% in handle and an 887% increase in GGR over the same period in fiscal year 2023.
The successful conversion to FanDuel gives the District a 40% share of GGR, equating to an estimated $1.90 million in revenue in the initial 30 days of operation, an increase of 690% over the same period last fiscal year.
“The transition to FanDuel, the market leader in mobile sports wagering, ensures the long-term viability of mobile sports wagering in the District,” said Frank Suarez, the Executive Director of OLG. “In addition to a 40% share of GGR and a guarantee of $5 million in revenue in its first year, the FanDuel partnership brings the benefits of a respected brand, commitment to responsible gaming, an established userbase, and a superior sports wagering experience for District residents and visitors.”
From September 2023 through February 2024, the District’s per capita sports wagering revenue (tax and GambetDC revenue) was $2.71. Based on FanDuel’s first 30 days of operation, it is likely that the District’s per capita sports wagering revenue may rise to over $19, placing it among the highest revenue-generating markets in the country on a per capita basis.
GambetDC users who have not done so already will have until October 15, 2024, to withdraw their funds from the platform.
Original article: https://www.yogonet.com/international/noticias/2024/05/23/72299-fanduel-generates-19-million-in-revenue-in-first-30-days-in-dc
