Washington D.C. is set to significantly expand its online sports betting market, allowing widespread access to multiple sports betting apps from Monday, July 15. This move, which includes the citywide launch of BetMGM and Caesars Sportsbook, marks a major shift from the previously restricted operations and introduces a more competitive landscape for sports bettors in the capital.
BetMGM, previously confined to a two-block radius around Nationals Park, will launch its app citywide at noon ET on Monday. To celebrate, the brand will host a morning event at Nationals Park, featuring live music. Similarly, Caesars Sportsbook, which operates a retail sportsbook at Capital One Arena, will also go live across the entire District on Monday.
This expansion follows successful lobbying by D.C. councilmember Kenyan McDuffie, who pushed for legislative changes to create a more competitive sports betting market. The amendment, part of the fiscal 2025 budget, allows multiple operators to enter the market, moving away from FanDuel’s monopoly and potentially generating millions in additional annual revenue for the city.
FanDuel, which took over the market from GambetDC as an Intralot subcontractor, has dominated the mobile sports betting scene in Washington D.C. According to May 2024 figures, bets placed via FanDuel’s app surged to nearly $30 million, compared to $5.4 million through GambetDC the previous year. However, the operator has expressed dissatisfaction with the market opening and hinted at terminating its exclusive contract with the Office of Lottery and Gaming if other operators were allowed entry.
FanDuel currently pays a 40% tax rate, while new operators will pay a 20% tax under McDuffie’s bill. Despite concerns from small businesses about potential revenue losses from sports betting kiosks, these businesses are guaranteed to have kiosks provided by one of the District’s sports betting operators, even if FanDuel exits its partnership with Intralot.
BetMGM and Caesars have completed the necessary licensing processes, enabling immediate launch. Meanwhile, other major players like DraftKings and Fanatics have shown interest in entering the Washington D.C. market. According to McDuffie’s bill, operators must partner with one of the District’s sports franchises and be vetted by the lottery before going live.
Original article: https://www.yogonet.com/international/noticias/2024/07/11/73076-washington-dc-sports-betting-market-set-for-expansion-on-july-15-as-betmgm-and-caesars-go-citywide
