FanDuel Sports Betting App Now Available in Washington D.C.

The Office of Lottery and Gaming (OLG) announced Monday that FanDuel has officially launched its website and app in Washington D.C. FanDuel is replacing GamBetDC as the District’s primary sports wagering vendor.

D.C.’s mobile and retail sports betting has been managed by Intralot under GamBetDC since 2019. GameBetDC first launched in 2020, however bettors were soon turned off by persistent crashes, unreliable odds, and poor user interface. 

GambetDC generated about $4.3 million for Washington D.C., a far cry from the $84 million projection

Although GambetDC helped D.C. profit over $4.3 million since then, it fell well short of the $84 million lawmakers had expected.

Intralot, a Greek gaming company that was first founded in 1992, subcontracted FanDuel to provide online sports betting in the District.

The FanDuel mobile betting app was granted widespread access for Washington D.C. bettors on Monday at noon ET. 

“With FanDuel’s launch, D.C. residents and visitors will have access to a best-in-class sports wagering platform,” Frank Suarez, executive director of Washington D.C.’s OLG, said in a press release. 

“FanDuel’s entry into our market brings not only a reliable, customer-friendly sports wagering experience to the nation’s capital, but it also includes guaranteed revenue that will be used to fund vital city programs.”

FanDuel is expecting to generate approximately $119 million in tax revenue for D.C. over the next five years.

The app is already available to bettors in Maryland and Virginia. FanDuel has generated about $265 million in gross gaming revenue per year in Maryland alone, according to a spokesperson for the sportsbook.

Flutter Entertainment, the owner of FanDuel, earned $11.7 billion in group revenue in 2023

Flutter Entertainment, which owns FanDuel, Betfair, PokerStars, and Paddy Power, generated $11.7 billion in group revenue in 2023, a 24.9% increase from the previous year. FanDuel and iGaming reported $4.4 billion in revenue last year compared to $3.1 billion for the fiscal year prior.

“The business had an excellent 2023,” said Flutter CEO Peter Jackson. “FanDuel has reached an inflection point, where we believe we will generate significant further adjusted EBITDA in 2024.”

FanDuel’s adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) in 2023 reached $65 million compared to a loss of $347 million for the fiscal year prior. 

In March, D.C. Council member Kenyan R. McDuffie (I-At Large) introduced the Sports Wagering Amendment Act of 2024 to get the ball rolling for bettors within the nation’s capital. The bill addresses the current limitations and lack of competition in the D.C. sports betting market.

Additionally, the Sports Wagering Amendment Act will introduce competition by allowing a varied number of sportsbooks to operate within D.C. The bill will create a Class C mobile sports wagering license, and Class A retail sportsbook operators would be permitted to offer their mobile apps to gamblers.