- BetMGM and Caesars Sportsbook will offer district-wide online sports betting next week
- The latest Washington, D.C. budget allows for the expansion of online sports betting operators
- DraftKings, Fanatics have both expressed interest in joining the Washington, D.C. market
The FanDuel Washington, D.C. online sports betting monopoly is coming to an end next week.
Both Caesars Sportsbook and BetMGM will begin offering online sports betting throughout the district on Monday, July 15. The operators have been confined to a two-block area for the last several years, but with the latest D.C. budget being approved can now offer online sports betting throughout the city.
Members of the Washington, D.C. Council approved the District’s fiscal year budget on final reading in late June, which includes language to allow up to seven online sports betting operators to do business in the district.
BetMGM, Caesars Busting Out
FanDuel is currently the only operator allowed to offer online sports betting throughout Washington, D.C., through its exclusive partnership with the lottery. 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.
However, both operators confirmed they will be launched districtwide on Monday, July 15, after final testing and approval.
These operators currently hold a Type-A license in the district, allowing them to offering retail and online sports betting.
D.C. council members effectively allowed the online sports betting market expansion after unanimously approving the District’s FY 2025 budget on final reading in June. The new budget allows the existing Type-A sports betting license holders to offer online sports betting throughout the District and outside operators to apply for a 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
DraftKings and Fanatics both expressed interest during the budget process to apply for a license in the district.
FanDuel Still Has Class A License
FanDuel is currently the only operator legally allowed to offer district-wide online sports betting through its subcontract with Intralot. FanDuel took over as the lottery’s lone online sports betting operator this past April, following several years of poor performance from GambetDC.
But what will FanDuel do now? FanDuel will remain operational in Washington, D.C. through its Class-A sports betting license with Audi Field. However, its partnership with the lottery and its subcontract with Intralot will end on July 15.
Intralot signed a five-year contract in 2019 with the lottery to operate sports betting in the district. The contract ends on July 15 and is not likely to be extended, thus ending the subcontract with FanDuel.
The post Washington, D.C. Online Sports Betting to Expand Next Week appeared first on Sports Betting Dime.
