FanDuel continues to make the most of its expansion into Washington D.C. as the official sportsbook of the DC Lottery, posting its third consecutive hold of 15% or higher in June, according to figures released by the state agency.
FanDuel, which was sub-contracted to conduct sports betting by Intralot and began taking bets in that capacity in mid-April, accounted for just over 90% of the near-$4 million won by sportsbooks across the district in June. Its $23.2 million in handle represented more than 78% of the $29.6 million worth of bets placed.
Overall, handle was up 165.7% from June 2023 while revenue skyrocketed nearly eight-fold. The district-wide hold of 13.5% on all wagers marked the sixth time in the last seven months it was above 10%. Washington D.C. coffers saw an inflow of close to $1.5 million in tax revenue.
FanDuel: The Bull in D.C.’s Sports Betting China Shop
It is difficult to overstate how much sports betting has changed in the nation’s capital in the three months FanDuel was operating in the capacity of DC Lottery as a first among equals before last month’s wholesale changes that opened up the district to widespread mobile betting.