The DC Office of Lottery and Gaming (OLG) celebrates a triumphant shift to FanDuel as its premier sports wagering platform, marking a period of substantial growth and revenue generation.
A lucrative transition:
Since the introduction of FanDuel’s mobile sportsbook app and website, the District witnessed an impressive surge in activity. Within the initial 30 days of operation, FanDuel amassed approximately $30 million in handle and yielded $5 million in gross gaming revenue (GGR), demonstrating the platform’s immediate impact.
Approved on April 15, 2024, FanDuel’s mobile sportsbook swiftly garnered favor among customers, propelling a remarkable upswing in performance metrics. The platform experienced a staggering 673% increase in handle and an 887% surge in GGR compared to the corresponding period in Fiscal Year 2023, signaling unprecedented growth and market dominance.
The seamless transition to FanDuel translates into substantial revenue gains for the District, securing a 40% share of GGR. This equates to an estimated $1.90 million in revenue within the inaugural 30 days of operation, a remarkable 690% increase over the previous fiscal year’s earnings.
Endorsement of FanDuel partnership:
As DC Lottery reports, Frank Suarez, Executive Director of OLG, lauds the transition to FanDuel as a strategic move to ensure the District’s long-term success in mobile sports wagering. Suarez emphasizes FanDuel’s market leadership, commitment to responsible gaming, and superior user experience, underscoring the platform’s capacity to surpass expectations.
The District’s per capita sports wagering revenue has seen a substantial uptick, with projections suggesting a surge to over $19 based on FanDuel’s initial performance. This places the District among the top revenue-generating markets nationwide on a per capita basis, reflecting the platform’s transformative impact on the local gaming landscape.
Withdrawal deadline for GambetDC users:
In light of the transition, GambetDC users are reminded to withdraw their funds from the platform by October 15, 2024, if they have not already done so. This ensures a seamless transition for users and aligns with OLG’s commitment to customer satisfaction and convenience.
OLG reaffirms its dedication to responsible gaming practices, highlighting FanDuel’s robust suite of problem gambling prevention, education, and advocacy resources. The platform’s built-in app safeguards empower customers to manage their gaming activities responsibly, fostering a safe and enjoyable gaming environment for all users.
As the District continues to embrace the FanDuel platform, stakeholders anticipate further growth and innovation in the sports wagering sector. The partnership between OLG and FanDuel promises to redefine the gaming landscape, driving economic prosperity and enhancing the overall gaming experience for District residents and visitors alike.
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