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DC Expands Sports Betting Market After Unanimous Budget Vote

EGR NORTH AMERICA (June 26, 2024) – The Washington, D.C., council has approved a new budget for 2025 which will allow the state to open up its digital sports betting market to multiple operators.

The new budget will come into effect from July 15, 2024, and was passed through unanimously as an emergency Act so as to circumvent congress approval.

The initial legislation was approved on June 13, with final approval now being delivered.

Within the budget proposal, the Council of the District of Columbia estimates the changes to the sports betting subcontract will generate at least an extra $5 million a year in revenue.

Currently, FanDuel is the only sportsbook available in D.C. after launching its platform with D.C. Lottery in April 2024 as a subcontractor for Intralot, replacing the former Gambet product.

Under the new budget, the door is open for the likes of Caesars and BetMGM to offer betting services as 'Class A' operators as the D.C. council looks to create more competition in the market.

Both the above operators have land-based sportsbooks in the district and will be able to expand into the online market.

FanDuel was previously paying at 40% tax rate in its deal with D.C. Lottery, but new operators will pay a 20% tax rate when they enter the market.

The new legislation will also allow 'Class C' operators to form partnerships with D.C.-based sports teams, opening the door for the likes of Fanatics, DraftKings, and ESPN Bet.

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