FanDuel sparked new life into an underperforming market, and new regulatory changes paved the way for a competitive marketplace.
FanDuel sparked new life into an underperforming market, and new regulatory changes paved the way for a competitive marketplace with multiple online sportsbooks in DC for the first time this summer.It was one of the most underwhelming markets in the entire U.S. legal sports betting industry, then FanDuel took over for the flailing GambetDC earlier this year and the marketThis inspired the D.C.
FanDuel didn’t even need eight months to wallop GambetDC’s performance either. Here’s a breakdown of how FanDuel fared in just two and a half months from mid-April through June compared to GambetDC’s figures from the first eight months of 2023:That’s a remarkable 56% increase in handle and 134% increase in revenue - in just over 30% of the time.Caesars and BetMGM are basically halfway to the same handle and revenue marks as GambetDC in a quarter of the time.
D.C. bettors wagered $40.58 million last month, besting the previous monthly high of $36.34 million set in May when FanDuel’s presence started to be felt after it achieved aThe $4.54 million in total revenue only trails May’s $5.63 million for most generated in any single month since the inception of sports betting in D.C.
Grant is a former junior B ice hockey player, and a current believer that the Washington Capitals’ aging core still has another Cup run left in the tank. Grant’s owned and operated his own marketing agency since shortly after graduating from Virginia Tech in 2014. He pursued the profession because he figured it’d be a great way to get paid to do something he loves to do, write.
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