FanDuel is set to replace the much-maligned GambetDC, which faced myriad problems over its short stint as Washington D.C.'s sole city-wide sportsbook.
The switch is expected to occur sometime during the spring, according to the city's Office of Lottery and Gaming (OLG).
GambetDC had an effective monopoly over online sports betting in one of the country's most important cities after a partnership between the District government and a Greek gambling company called Intralot.
But nearly as soon as the five-year, $215 million contract was signed, issues ran rampant.
Users were unable to properly sign up for the app and the interface was unintuitive. In addition, the odds were abysmal compared to the rest of the market — an abnormally high vig on Gambet meant a loss in up to 50% of value on a simple moneyline pick relative to the rest of the market.
Then, even after some of those issues were addressed, the product still suffered. The sportsbook started to hang horrible lines — enough for one bettor to hit them for $400,000 over a five month period, according to the Washington Post.
And in June 2023, the sportsbook did the unthinkable — it lost more money than it won without factoring in marketing spend or overhead costs, unheard of in the gambling space.
Washington's former chief financial officer said the sportsbook would net the city $20 million in annual revenue. In the most recent data on the matter, the sportsbook only registered $1.2 million in profits.
