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  • Axios DC

    FanDuel is already bringing in a hefty sum for D.C.

    By Cuneyt Dil,

    2024-05-23

    FanDuel 's sports betting app produced $1.9 million in revenue for the District in its first 30 days of operation.

    Why it matters: Wow, that was fast. D.C. made on average more money in a month from FanDuel than in a year with its previous sports gambling app GambetDC .


    State of play: It turns out D.C. sports bettors were just waiting for the right app. For years, D.C.'s glitchy app has frustrated users and underperformed on revenue projections, all while contractors made millions .

    • FanDuel took over as the official app on April 15.

    By the numbers: If FanDuel's performance continues, simple math suggests it could notch the city about $23 million in revenue over the next 12 months.

    • That's a big upgrade from the $4.3 million GambetDC brought in from 2020 to early 2024.

    Flashback: D.C. originally forecasted making $20 million a year from sports betting, but GambetDC never lived up to that.

    What they're saying: "The transition to FanDuel, the market leader in mobile sports wagering, ensures the long-term viability of mobile sports wagering in the District," Frank Suarez, the head of D.C. Lottery and Gaming, said in a statement.

    Between the lines: The increase in revenue will help the city's budget shortfall, as every penny counts when D.C. is considering cuts to programs .

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