In a notable development for Washington D.C.’s sports betting market, the D.C. Office of Lottery and Gaming (OLG) has announced that FanDuel will replace GambetDC as the city’s sole sports betting provider. The transition is expected to occur later this spring, although specific details regarding the timing and the fate of existing GambetDC accounts are still being finalized.
The decision to bring in FanDuel comes after GambetDC, developed by Greek gaming company Intralot and launched in May 2020, faced a host of issues, including poor user experience, noncompetitive odds, and technical glitches.
Despite early projections of adding $20 million annually to the city’s revenue, GambetDC has drastically underperformed. Recent figures revealed that it had generated only a fraction of the projected revenue, prompting calls for change from city officials and residents alike.
In January, GambetDC had brought in only a little more than $4.3 million to the city over the course of its existence, a fraction of the $84 million the city was projected to have made by then.
Frank Suarez, Executive Director of the OLG, expressed confidence in FanDuel’s ability to revitalize the city’s sports betting industry. He stated: “FanDuel’s industry-leading offering will ensure that the District maximizes tax revenue under its existing contracts this year while delivering a best-in-class experience.”
In addition to its promise to guarantee $45 million in revenue for the city over the duration of its five-year deal, FanDuel has committed to assuming operational expenses, such as payment processing and marketing, currently borne by the city. It also said it projects to generate much more revenue for the city, at $119 million over the course of the contract.
D.C. Council member Kenyan R. McDuffie said in a statement Monday that “change is necessary to replace the dreadful performance of GambetDC” but that he was disappointed by how long it took OLG to act, as per The Washington Post. He said he plans to introduce legislation to make the process more transparent.
D.C. residents only had the GambetDC app to place sports bets, unless they visited one of the three bricks-and-mortar sportsbooks that have opened at or near the city’s three professional stadiums.
GambetDC also operated retail kiosks across the city, which will be replaced by machines operated by FanDuel “on a phased basis,” OLG said in a statement. The new kiosks are anticipated to be ready in the summer, according to an OLG spokeswoman.
Original article: https://www.yogonet.com/international/noticias/2024/03/12/71218-fanduel-to-replace-gambetdc-as-sole-sports-betting-operator-in-washington-dc
