FanDuel‘s April entrance as the official sportsbook of the D.C. Lottery provided immediate dividends as the district agency reported a record sports betting handle of $26.6 million for the month.

The D.C. Lottery had struggled to gain traction for sports betting with GambetDC, run by Intralot. Though Intralot is still technically involved as the district operator and eventually sub-contracted FanDuel, constant grousing by both the public and D.C. City Council about GambetDC led to seeking alternatives. FanDuel was announced as the district’s new official sports betting app of the lottery in March and began taking bets April 15.

“The transition to FanDuel, the market leader in mobile sports wagering, ensures the long-term viability of mobile sports wagering in the District,” said Frank Suarez, the Executive Director of OLG, in a statement released Tuesday that accompanied FanDuel’s numbers. “In addition to a 40% share of GGR and a guarantee of $5 million in revenue in its first year, the FanDuel partnership brings the benefits of a respected brand, commitment to responsible gaming, an established user base, and a superior sports wagering experience for District residents and visitors. FanDuel’s first 30 days have not only met, but exceeded, expectations.”

The previous monthly record for handle in the nation’s capital was $24.9 million, set back in October 2021. Overall, sports betting revenue in the district topped $3.5 million, the highest since September 2022, and was $1,300 shy of being a top-five, all-time total.

Hard to overstate FanDuel’s impact

No longer confined to Audi Field, FanDuel made instant inroads into Washington D.C.’s sports betting scene in its first 16 days. The $15.6 million in accepted wagers — not counting the $551,000 handle generated at the home of D.C. United — came within $136,600 of matching March’s entire handle in the district.

FanDuel had an 18.2% hold in collecting $2.8 million in revenue as the lottery’s operator, accounting for more than 80% of the total operator winnings in April. That amount would have ranked eighth all-time by itself as the overall hold among all operators in the district was 13.2%.

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Year-over-year handle in the nation’s capital was up 88.6%, while revenue soared 148.7%. FanDuel also helped handle increase 69.2% compared to March, while revenue climbed 158.3% as April’s hold was nearly 4.6 percentage points higher.

Having the industry leader as an official sportsbook also positively impacted the volume of wagers placed in the district. FanDuel accepted an average of nearly 43,000 bets per day and 685,797 overall. In comparison, GambetDC processed 559,553 wagers for all of 2024.

GambetDC’s swan song was not all that bad as it posted a 10.2% hold in April to claim $356,600 from $3.5 million in handle. It totaled $28.7 million in total revenue from $215.3 million worth of bets, crafting a 13.3% win rate.

Caesars’ loss prevents a top-three revenue total

Caesars Sportsbook, which operates out of Capital One Arena, took its first monthly loss in the district as the public came out $165,200 ahead on close to $3.5 million bet, resulting in a minus-4.7% hold. Had Caesars broke even in April, the total monthly revenue would have ranked third overall.

BetMGM posted a 7.4% win rate in collecting $226,900 from $3.1 million worth of bets placed. When including wagering at Audi Field, FanDuel crested $3 million in total revenue as the $194,200 in winnings resulted in a crunching 35.3% hold against the public.

Among Class B licensees, Grand Central’s two locations totaled $58,200 in revenue from $348,700 in handle, good for a 16.7% hold. The Cloakroom had a 15.5% win rate in claiming $2,800, while Sports & Social DC — also operated by FanDuel — collected $11,100 thanks to a 23.3% hold on $47,500 in bets placed.

Making its debut on the D.C. sports betting scene was The Ugly Mug, which accepted its first wagers on April 26. Bettors came out $614 ahead on $447 wagered in an inauspicious debut for the 8th Street venue.

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