FanDuel’s First Month in DC Exceeds Expectations with $30 Million Handle
The DC Office of Lottery and Gaming (OLG) has reported impressive financial results for FanDuel sportsbook’s first month of operation in the District of Columbia.
In April 2024, FanDuel launched its mobile sportsbook platform, generating $30 million in handle and $5 million in gross gaming revenue during its inaugural month.
Revenue Growth
The introduction of FanDuel has led to a notable increase in the District’s sports wagering revenue. The OLG benefits from a 40% share of FanDuel’s gross gaming revenue, which has translated into approximately $1.9 million in revenue for the District.
OLG Executive Director Frank Suarez praised the partnership with FanDuel, emphasizing its strategic importance for the District’s sports wagering landscape. “The transition to FanDuel, the market leader in mobile sports wagering, ensures the long-term viability of mobile sports wagering in the District,” Suarez stated.
He highlighted several key benefits of the partnership, including a guaranteed $5 million in revenue for the first year, a strong commitment to responsible gaming, and access to FanDuel’s established user base.
Exceeding Expectations
FanDuel’s performance in its first 30 days has surpassed OLG’s expectations. The platform’s strong start is attributed to its respected brand and the superior sports wagering experience it offers to residents and visitors in the District.
This successful launch positions FanDuel as a critical player in DC’s sports betting market, promising continued growth and revenue generation.
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