- BetMGM and Caesars Sportsbook had plans to launch online sports betting districtwide today
- Both operators are now waiting for Washington, D.C. Mayor Muriel Bowser to sign the district’s budget into law
- The budget will allow for multiple online sports betting operators in the district
Two new sports betting operators were expected to launch today in Washington, D.C., effectively putting an end to the sports betting monopoly FanDuel currently enjoys in the district.
It seems as if the monopoly will last for at least another day, as Washington, D.C. Mayor Muriel Bowser has yet to sign the district’s FY 2025 budget into law.
The budget, which was approved by the Washington, D.C. City Council in late June, includes language to allow up to seven online sports betting operators to do business in the district and creates a new type of sports betting operator’s license.
BetMGM, Caesars Will Have to Wait
Both BetMGM and Caesars Sportsbook planned to launch online sports betting throughout the district today. Currently, BetMGM and Caesars Sportsbook have Class-A sports betting licenses, which allow the operators to conduct retail sports betting and limited online sports betting in the district.
BetMGM and Caesars Sportsbook can only offer online sports betting to customers who are within a two-block radius of their retail sportsbooks at Nationals Park and Capital One Arena, respectively.
But to the surprise of the companies, Bowser has not yet signed the budget. She has until June 25 to either reject or sign the budget into law.
D.C. council members consented to the expanded online sports betting market after unanimously approving the District’s FY 2025 budget on final reading in June. The new budget allows existing Type-A sports betting license holders to offer online sports betting throughout the District and outside operators to apply for newly created Type-C licenses.
The new class of license allows sports franchises in the district to partner with one sports betting operator to conduct online sports betting. The budget will tax Type-C license holders at a rate of 30% of gross gaming revenue and will cost $2 million to acquire for five years. A $1 million renewal fee will be required after the initial term runs out.
Sports franchises that play 90% of its home games in the district will be eligible for a Type-C license. This will leave the following franchises and stadiums eligible for one of the new types of sports betting licenses.
- Audi Field
- Capital One Arena
- DC United
- Nationals Park
- Washington Capitals
- Washington Nationals
- Washington Wizards
FanDuel Still Only Districtwide Operator
FanDuel will continue as the only districtwide operator until Bowser approves the budget. FanDuel took over as the lottery’s lone online sports betting operator this past April, following several years of poor performance from GambetDC.
The Washington, D.C. Lottery and Intralot agreed to a five-year partnership in 2019 for the gaming company to operate online sports betting in the district. Intralot launched GambetDC in mid-2020, which failed to live up to financial and operational expectations.
FanDuel entered into a subcontract with Intralot and launched in the district this past April. However, Intralot’s contract with the D.C. Lottery expires today and will likely not be extened.
FanDuel will continue to operate throughout the district through its Class-A sports betting license partnership with Audi Field.
The post BetMGM, Caesars Awaiting Mayor’s Budget Signature Before D.C. Launch appeared first on Sports Betting Dime.
