Betting Operators Support Bill Expanding the Sports Wagering Market of Washington D.C.
On May 6, a Washington D.C. Council committee’s Business and Economic Development Public Hearing took place in which four sports betting operators argued for a proposed bill that would diversify the state’s sports betting market if it becomes law.
Operators support an expansion of Washington D.C.'s mobile betting market.
LISTEN TO THIS ARTICLE:At the same time, operators expressed their worries about FanDuel’s digital monopoly that will come into being if the Intralot contract is renewed.
Leading Operators Support McDuffie Bill
There were representatives from BetMGM, Caesars Sportsbook, DraftKings and Fanatics Sportsbook at the hearing. All of them gave their support to the bill from Councilmember Kenyan McDuffie. The bill would allow several more sports betting apps in Washington D.C.
The proposed bill comes soon after FanDuel signed a contract to become a subcontractor of Intralot, which meant that it has the rights to be the state’s only online sportsbook operator.
FanDuel replaced Intralot’s previous subcontractor GamebetDC. Since launching, the operator has seen more than $14 million in bets placed, significantly more than the combined earnings of GamebetDC over the past few months.
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McDuffie Bill Hampered by Intralot Contract
While McDuffie’s bill is widely supported, the complex nature of the Intralot contract, which expires in July, is proving to be an obstacle.
While the bill is designed to grow the state’s sports betting market, the lottery wishes to keep the Intralot contract and extend it by two years. If this goes ahead, then FanDuel’s sports betting monopoly will continue and McDuffie has warned that this will reduce betting revenues.
There are also some issues regarding tax rates with Caesars Sportsbook calling for different tax rates for mobile and retail betting in order to avoid job losses and venue closures.
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