{"id":313713,"date":"2024-03-11T15:07:45","date_gmt":"2024-03-11T20:07:45","guid":{"rendered":"https:\/\/www.casino.org\/news\/?p=313713"},"modified":"2024-03-12T11:31:35","modified_gmt":"2024-03-12T16:31:35","slug":"fanduel-taking-reins-from-gambetdc-in-washington-dc","status":"publish","type":"post","link":"https:\/\/www.casino.org\/news\/fanduel-taking-reins-from-gambetdc-in-washington-dc\/","title":{"rendered":"FanDuel Officially Replacing GambetDC in Washington, D.C."},"content":{"rendered":"

It\u2019s official. FanDuel is taking the reins from GambetDC as the lone sports wagering mobile application in Washington, D.C.<\/p>\n

\"FanDuel\"
The FanDuel Sportsbook logo. The gaming company will officially replace GambetDC in Washington, D.C. this spring. (Image: Flutter)<\/figcaption><\/figure>\n

The Office of Lottery and Gaming (OLG) announced the change following recent speculation<\/a> regarding such a move. Greek gaming company Intralot will maintain its contract with the city and farm out operations of the betting app to FanDuel.<\/p>\n

FanDuel\u2019s industry-leading offering will ensure that the district maximizes revenue under its existing contracts this year while delivering a best-in-class experience for 18+ residents,\u201d<\/strong> said OLG Executive Director Frank Suarez in a statement.<\/p><\/blockquote>\n

FanDuel, which is one of the most widely used sports betting apps in the country, is expected to launch in the district in the spring. but a specific date wasn\u2019t included in the statement.<\/p>\n

FanDuel Move Smart for Washington, D.C.<\/h2>\n

The district’s contract with Intralot wasn\u2019t subject to a competitive bidding process, and that was merely the start of a controversial run for GambetDC.<\/p>\n

\n

In the roughly four years since its inception, the app generated $8.5 million in tax revenue for the city while being subject to heavy criticism for consistently offering poor odds<\/a> and occasionally floundering during marquee sports events. GambetDC was such a dud that many bettors in the district opted to go to Maryland and Virginia to wager from their mobile devices.<\/p>\n<\/div>\n

The economics of the FanDuel relationship are far better for the city. FanDuel, a unit of Flutter Entertainment (NYSE: FLUT), is guaranteeing the district at least $45 million in revenue. That sum consists of a $5 million conversion fee to replace GambetDC and $10 million in annual tax receipts for the four years starting July 2025.<\/p>\n

FanDuel believes it will generate $119 million in taxable revenue in Washington, D.C. over the next five years. That\u2019s more than the forecast $10 million from the current system, and nearly double the expected $62 million if the district allowed multiple gaming companies to offer mobile sports wagering there.<\/p>\n

The operator also expects that many of the current GambetDC retailers will see revenue increase 1.5x to 2x upon conversion to FanDuel kiosks.<\/p>\n

FanDuel Already Dominant in the Region<\/h2>\n

One of the primary reasons OLG wanted Intralot to consider a subcontractor is branding. Though a specific regional mark, GambetDC didn\u2019t resonate with local bettors on par with a major brand<\/a> such as FanDuel.<\/p>\n

\n

Not only is FanDuel one of the two largest sports betting apps in the U.S. (DraftKings is the other), it\u2019s already familiar to Washington clients. The operator runs a retail sportsbook at Audi Field and has marketing agreements with some local professional sports franchises, including the NFL\u2019s Washington Commanders.<\/p>\n<\/div>\n

Additionally, FanDuel already has roughly 50% market share in Maryland and Virginia, having generated $265 million in gross gaming revenue (GGR) in the former and $256 million in GGR in the latter. That\u2019s relevant because the operator estimates it has 20K users in Washington, D.C. who have accounted for $15 million in GGR in Maryland and Virginia. That’s because they\u2019re traveling to those states to bet instead of using GambetDC.<\/p>\n","protected":false},"excerpt":{"rendered":"

It\u2019s official. FanDuel is taking the reins from GambetDC as the lone sports wagering mobile application in Washington, D.C. The Office of Lottery and Gaming (OLG) announced the change following recent speculation regarding such a move. Greek gaming company Intralot will maintain its contract with the city and farm out operations of the betting app […]<\/p>\n","protected":false},"author":46,"featured_media":241145,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[86432,20,86438,1074,16693],"tags":[86697,81906,86457,80968,82041],"acf":[],"yoast_head":"\nFanDuel Taking Reins From GambetDC in Washington, DC<\/title>\n<meta name=\"description\" content=\"FanDuel Officially Replacing GambetDC in Washington, DC.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.casino.org\/news\/fanduel-taking-reins-from-gambetdc-in-washington-dc\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"FanDuel Taking Reins From GambetDC in Washington, DC\" \/>\n<meta property=\"og:description\" content=\"FanDuel Officially Replacing GambetDC in Washington, DC.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.casino.org\/news\/fanduel-taking-reins-from-gambetdc-in-washington-dc\/\" \/>\n<meta property=\"og:site_name\" content=\"Casino.org\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/Casino.OrgNews\" \/>\n<meta property=\"article:published_time\" content=\"2024-03-11T20:07:45+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-03-12T16:31:35+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2022\/11\/FD.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1200\" \/>\n\t<meta property=\"og:image:height\" content=\"800\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Todd Shriber\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@etfgodfather\" \/>\n<meta name=\"twitter:site\" content=\"@Casino_Org\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Todd Shriber\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.casino.org\/news\/fanduel-taking-reins-from-gambetdc-in-washington-dc\/\",\"url\":\"https:\/\/www.casino.org\/news\/fanduel-taking-reins-from-gambetdc-in-washington-dc\/\",\"name\":\"FanDuel Taking Reins From GambetDC in Washington, DC\",\"isPartOf\":{\"@id\":\"https:\/\/www.casino.org\/news\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.casino.org\/news\/fanduel-taking-reins-from-gambetdc-in-washington-dc\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.casino.org\/news\/fanduel-taking-reins-from-gambetdc-in-washington-dc\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2022\/11\/FD.jpg\",\"datePublished\":\"2024-03-11T20:07:45+00:00\",\"dateModified\":\"2024-03-12T16:31:35+00:00\",\"author\":{\"@id\":\"https:\/\/www.casino.org\/news\/#\/schema\/person\/f4cecf70a5032bc4e60eb73fc86d4a85\"},\"description\":\"FanDuel Officially Replacing GambetDC in Washington, DC.\",\"breadcrumb\":{\"@id\":\"https:\/\/www.casino.org\/news\/fanduel-taking-reins-from-gambetdc-in-washington-dc\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.casino.org\/news\/fanduel-taking-reins-from-gambetdc-in-washington-dc\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.casino.org\/news\/fanduel-taking-reins-from-gambetdc-in-washington-dc\/#primaryimage\",\"url\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2022\/11\/FD.jpg\",\"contentUrl\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2022\/11\/FD.jpg\",\"width\":1200,\"height\":800,\"caption\":\"The FanDuel Sportsbook logo. The gaming company will officially replace GambetDC in Washington, DC. (Image: Flutter)\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/www.casino.org\/news\/fanduel-taking-reins-from-gambetdc-in-washington-dc\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"News\",\"item\":\"https:\/\/www.casino.org\/news\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Sports Betting\",\"item\":\"https:\/\/www.casino.org\/news\/sportsbetting\/\"},{\"@type\":\"ListItem\",\"position\":3,\"name\":\"FanDuel Officially Replacing GambetDC in Washington, D.C.\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/www.casino.org\/news\/#website\",\"url\":\"https:\/\/www.casino.org\/news\/\",\"name\":\"Casino.org\",\"description\":\"Latest Casino and Gaming News\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/www.casino.org\/news\/?s={search_term_string}\"},\"query-input\":\"required name=search_term_string\"}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/www.casino.org\/news\/#\/schema\/person\/f4cecf70a5032bc4e60eb73fc86d4a85\",\"name\":\"Todd Shriber\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.casino.org\/news\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2023\/03\/cropped-11-96x96.png\",\"contentUrl\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2023\/03\/cropped-11-96x96.png\",\"caption\":\"Todd Shriber\"},\"description\":\"Todd Shriber is a senior news reporter covering gaming financials, casino business, stocks, and mergers and acquisitions for Casino.org. Todd got his start in financial markets as a reporter with Bloomberg News. Later, he became a trader at a Southern California-based long\/short hedge fund, where he specialized in the trading sector and international ETFs leading up to and during the financial crisis. He joined Casino.org in 2019. Currently, Todd analyzes, researches, and writes on ETFs for various web-based publications and financial services firms. Shriber has been featured and quoted in Barron's, CNBC.com, and The Wall Street Journal. His work can also be found on Benzinga, ETF Daily News, ETF Trends, MarketWatch, Fox Business, and Nasdaq.com. He currently resides in Las Vegas, where he enjoys golf and taking his black lab to the dog park. He's also an avid sports fan and likes to wager on college football and the NBA. You can also find him at the three-card poker and roulette table, even though he knows better. Contact Todd at todd.shriber@casino.org.\",\"sameAs\":[\"https:\/\/muckrack.com\/todd-shriber\",\"https:\/\/www.linkedin.com\/in\/toddshriber\/\",\"https:\/\/x.com\/etfgodfather\"],\"url\":\"https:\/\/www.casino.org\/news\/author\/todd-shriber\/\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"FanDuel Taking Reins From GambetDC in Washington, DC","description":"FanDuel Officially Replacing GambetDC in Washington, DC.","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.casino.org\/news\/fanduel-taking-reins-from-gambetdc-in-washington-dc\/","og_locale":"en_US","og_type":"article","og_title":"FanDuel Taking Reins From GambetDC in Washington, DC","og_description":"FanDuel Officially Replacing GambetDC in Washington, DC.","og_url":"https:\/\/www.casino.org\/news\/fanduel-taking-reins-from-gambetdc-in-washington-dc\/","og_site_name":"Casino.org","article_publisher":"https:\/\/www.facebook.com\/Casino.OrgNews","article_published_time":"2024-03-11T20:07:45+00:00","article_modified_time":"2024-03-12T16:31:35+00:00","og_image":[{"width":1200,"height":800,"url":"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2022\/11\/FD.jpg","type":"image\/jpeg"}],"author":"Todd Shriber","twitter_card":"summary_large_image","twitter_creator":"@etfgodfather","twitter_site":"@Casino_Org","twitter_misc":{"Written by":"Todd Shriber","Est. reading time":"3 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/www.casino.org\/news\/fanduel-taking-reins-from-gambetdc-in-washington-dc\/","url":"https:\/\/www.casino.org\/news\/fanduel-taking-reins-from-gambetdc-in-washington-dc\/","name":"FanDuel Taking Reins From GambetDC in Washington, DC","isPartOf":{"@id":"https:\/\/www.casino.org\/news\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.casino.org\/news\/fanduel-taking-reins-from-gambetdc-in-washington-dc\/#primaryimage"},"image":{"@id":"https:\/\/www.casino.org\/news\/fanduel-taking-reins-from-gambetdc-in-washington-dc\/#primaryimage"},"thumbnailUrl":"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2022\/11\/FD.jpg","datePublished":"2024-03-11T20:07:45+00:00","dateModified":"2024-03-12T16:31:35+00:00","author":{"@id":"https:\/\/www.casino.org\/news\/#\/schema\/person\/f4cecf70a5032bc4e60eb73fc86d4a85"},"description":"FanDuel Officially Replacing GambetDC in Washington, DC.","breadcrumb":{"@id":"https:\/\/www.casino.org\/news\/fanduel-taking-reins-from-gambetdc-in-washington-dc\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.casino.org\/news\/fanduel-taking-reins-from-gambetdc-in-washington-dc\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.casino.org\/news\/fanduel-taking-reins-from-gambetdc-in-washington-dc\/#primaryimage","url":"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2022\/11\/FD.jpg","contentUrl":"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2022\/11\/FD.jpg","width":1200,"height":800,"caption":"The FanDuel Sportsbook logo. The gaming company will officially replace GambetDC in Washington, DC. (Image: Flutter)"},{"@type":"BreadcrumbList","@id":"https:\/\/www.casino.org\/news\/fanduel-taking-reins-from-gambetdc-in-washington-dc\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"News","item":"https:\/\/www.casino.org\/news\/"},{"@type":"ListItem","position":2,"name":"Sports Betting","item":"https:\/\/www.casino.org\/news\/sportsbetting\/"},{"@type":"ListItem","position":3,"name":"FanDuel Officially Replacing GambetDC in Washington, D.C."}]},{"@type":"WebSite","@id":"https:\/\/www.casino.org\/news\/#website","url":"https:\/\/www.casino.org\/news\/","name":"Casino.org","description":"Latest Casino and Gaming News","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.casino.org\/news\/?s={search_term_string}"},"query-input":"required name=search_term_string"}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/www.casino.org\/news\/#\/schema\/person\/f4cecf70a5032bc4e60eb73fc86d4a85","name":"Todd Shriber","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.casino.org\/news\/#\/schema\/person\/image\/","url":"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2023\/03\/cropped-11-96x96.png","contentUrl":"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2023\/03\/cropped-11-96x96.png","caption":"Todd Shriber"},"description":"Todd Shriber is a senior news reporter covering gaming financials, casino business, stocks, and mergers and acquisitions for Casino.org. Todd got his start in financial markets as a reporter with Bloomberg News. Later, he became a trader at a Southern California-based long\/short hedge fund, where he specialized in the trading sector and international ETFs leading up to and during the financial crisis. He joined Casino.org in 2019. Currently, Todd analyzes, researches, and writes on ETFs for various web-based publications and financial services firms. Shriber has been featured and quoted in Barron's, CNBC.com, and The Wall Street Journal. His work can also be found on Benzinga, ETF Daily News, ETF Trends, MarketWatch, Fox Business, and Nasdaq.com. He currently resides in Las Vegas, where he enjoys golf and taking his black lab to the dog park. He's also an avid sports fan and likes to wager on college football and the NBA. You can also find him at the three-card poker and roulette table, even though he knows better. Contact Todd at todd.shriber@casino.org.","sameAs":["https:\/\/muckrack.com\/todd-shriber","https:\/\/www.linkedin.com\/in\/toddshriber\/","https:\/\/x.com\/etfgodfather"],"url":"https:\/\/www.casino.org\/news\/author\/todd-shriber\/"}]}},"_links":{"self":[{"href":"https:\/\/www.casino.org\/news\/wp-json\/wp\/v2\/posts\/313713"}],"collection":[{"href":"https:\/\/www.casino.org\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.casino.org\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.casino.org\/news\/wp-json\/wp\/v2\/users\/46"}],"replies":[{"embeddable":true,"href":"https:\/\/www.casino.org\/news\/wp-json\/wp\/v2\/comments?post=313713"}],"version-history":[{"count":4,"href":"https:\/\/www.casino.org\/news\/wp-json\/wp\/v2\/posts\/313713\/revisions"}],"predecessor-version":[{"id":313831,"href":"https:\/\/www.casino.org\/news\/wp-json\/wp\/v2\/posts\/313713\/revisions\/313831"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.casino.org\/news\/wp-json\/wp\/v2\/media\/241145"}],"wp:attachment":[{"href":"https:\/\/www.casino.org\/news\/wp-json\/wp\/v2\/media?parent=313713"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.casino.org\/news\/wp-json\/wp\/v2\/categories?post=313713"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.casino.org\/news\/wp-json\/wp\/v2\/tags?post=313713"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}