“FanDuel's industry-leading services will allow districts to deliver a best-in-class experience this year while maximizing tax revenue under existing contracts,” OLG Executive Director Frank Suarez said in a statement. Ta.
GambetDC, created by Greek gaming company Intralot, which also operates the DC lottery system, launched in May 2020 but received poor reviews from sports gamblers who lamented uncompetitive odds and technical flaws. . It also fell short of expectations from city officials, who said in 2019 it would add $20 million a year to city coffers. Kenya R. McDuffie, chair of the DC Council's Business and Economic Development Committee (I-At Large), said in January that GambetDC has brought in just over $4.3 million to the city throughout its existence. said. That's just a fraction of the $84 million the city is expected to have earned by then, he said. In June 2023, GambetDC actually made a loss, which is highly unusual in the world of sports gambling.
In January, Suarez told the D.C. Council that he would work with Intralot, which awarded a five-year, $215 million no-bid contract to develop the city's only sports betting platform, in favor of private companies with more established platforms. He said he was looking for an operator. He subcontracts out the city's sports betting franchise. FanDuel is an established sports betting operator that is available in some form in 22 states, including Maryland and Virginia, giving gamblers multiple operators to choose from. This proved to be an attractive temptation for his D.C. sports gamblers who frequently venture beyond city limits to place bets.
Washington, DC residents only have GambitDC unless they visit one of the three brick-and-mortar sportsbooks that are open at or near the city's three pro stadiums and can operate the app in close proximity to those stadiums. It was. GambetDC also operated retail kiosks throughout the city, which will be replaced “gradually” with machines operated by FanDuel, he OLG said in a statement.
Under the terms of the new deal, Intralot will cover OLG's current operating costs for sports gambling and pay the city an initial fee of $5 million. Suarez said in January that the subcontracting route was a quicker solution than opening up the city's sports betting operations to bids. He also said opening up sports betting to multiple companies, as is done in most U.S. states, including Maryland and Virginia, would hurt the retail industry that has been enriched by operating GambetDC kiosks. He also said that it would be.
