Online betting in Washington, D.C. is on hold until the mayor approves the budget, delaying the launch of two sports betting platforms scheduled for July 15, 2024.
According to the law, Bowser must sign the budget by July 25th. If she doesn't take action by then, the budget will go into effect automatically. BetMGM and Caesars Sportsbook are currently waiting for the mayor's signature, with uncertainty about when it will happen. A BetMGM spokesperson also mentioned that the cancellation of an event planned at Nationals Park.
As of Monday evening, the only betting platform available in Washington is FanDuel, in partnership with the DC Lottery. Unfortunately, the FanDuel platform was down on Tuesday, leaving Washington residents with no online betting options.
Currently, bets can only be placed in person. FanDuel has stated that they will resume operations once the budget is approved. The DC County Council recently approved the budget for fiscal year 2025, which included changes to state rates. The previous GamBetDC program from Intralot was not profitable, leading to a partnership with FanDuel. While this partnership has proven successful, FanDuel pays 40% of all revenue to maintain its monopoly in the area.
The new amendment will create a Type C licence, under which operators can partner with a franchise instead of a site, as is the case now.
Type C licences will cost $2 million and have an annual renewal fee of $1 million. Licences will be valid for five years and licensees will pay a tax of 30%.
