Washington, DC’s sports betting market is about to get another significant upgrade.
DraftKings announced on Tuesday that it will launch its sportsbook in the nation’s capital. The industry giant is still waiting on licensing and regulatory approval before setting an official launch date, but the announcement confirms its intention to enter the rapidly growing market.
Once approved and launched, DraftKings will become the fourth online sportsbook to be live in the nation’s capital. They will join FanDuel, Caesars, and BetMGM as the platforms available to bettors across the district. The market will be the twenty-ninth that DraftKings Sportsbooks is available in.
“We would like to thank the D.C. Council for creating a path to bring DraftKings’ top-rated sportsbook to the nation’s capital,” said DraftKings NA President Matt Kalish. “Together with D.C. United, we look forward to delivering fans a best-in-class experience through our customer-friendly product.”
DraftKings has partnered with MLS club D.C. United to gain access to the market.
A few months ago, GameBetDC was the only online sportsbook available across the district. The embattled platform led to disappointing revenue numbers as bettors grew frustrated with the app's never-ending issues. That led many to stop betting on sports or turn to offshore sportsbooks for their wagers.
The district decided to close GameBetDC in the spring after reaching a deal with FanDuel to take over the market. FanDuel’s world-renowned platform represented a major upgrade for bettors, and the early revenue numbers showed a massive spike.
The DC City Council decided to expand the industry just a couple of months after FanDuel’s launch, opening up the market to other operators. BetMGM and Caesars were the first to enter the newly expanded market, launching their platforms earlier this month.
While the growth of the district’s market has been a cause for celebration for regulators and bettors alike, that hasn’t been the case for FanDuel.
The industry leader has shared their frustration over the DC City Council’s decision to expand the market so soon after their sportsbook went live. They have complained that they agreed to enter the district with the understanding that they would be the sole platform available across the market. That led to them making significant investments to help save the floundering market.
Just four months later, FanDuel already has two new competitors who have launched, and they will now be joined by their top rival, DraftKings.
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