In a recent development, FanDuel president Christian Genetski alerted D.C. City Council chairman Phil Mendelson through a letter that FanDuel may terminate its collaboration with the city concerning its sports betting platform. The communication, sent earlier this month, highlighted that FanDuel would “invoke its termination right” if the sports betting market in the District were to be expanded by lawmakers.
This letter from Genetski was dispatched before lawmakers considered the 2025 budget, which includes provisions to widen the sports betting market in the District. The budget has since received approval from the D.C. Council, as reported by Covers.
The newly approved budget proposes the introduction of a Class C license. This license would permit sportsbooks to align with one of the state’s professional sports teams and extend mobile sports betting throughout the District. Currently, FanDuel operates as the sole betting platform available across the District through its partnership with the Office of Lottery and Gaming (OLG).
While the 2025 budget still awaits Mayor Muriel Bowser’s approval, it faces some opposition due to potential tax implications. Nevertheless, FanDuel has stated that it would “invoke its termination right” and cease its agreement with the Online Lottery and Gaming office if the budget receives the Mayor’s approval.
Genetski remarked, “Any District-wide sportsbook operations by OLG would no longer have participation from FanDuel,” underlining the potential fallout.
Operator Can Still Launch Mobile Platform
Despite the possibility of terminating its current agreement, FanDuel retains the option to partner with a local sports team and launch its mobile platform within the District under a Class C license. Presently, the company holds a Class A license, allowing it to manage a retail sportsbook at Audi Field, the home ground for D.C. United and the Washington Spirit soccer teams.
Following the D.C. City Council’s approval of the 2025 budget, FanDuel reiterated its dedication to the residents of D.C. It stated that it “remains committed to providing D.C. residents with a best-in-class sports betting offering under its current contract with the Office of Lottery and Gaming while also maximizing revenue to the District under that agreement.”
Should FanDuel decide to exit the agreement, the DC Lottery might find itself without a partner to operate online and retail sports betting kiosks across the District. Intralot previously managed GambetDC on behalf of the DC Lottery from 2020 until FanDuel took over on April 15 this year.
This situation creates uncertainty for the future of sports betting in Washington, D.C., as the expansion of the market under the new budget could lead to significant shifts in partnerships and operational dynamics. The implications of FanDuel’s potential withdrawal could be wide-ranging, impacting not just the company and the DC Lottery but also the broader sports betting ecosystem in the District.
As the situation continues to develop, all eyes will be on Mayor Bowser’s decision regarding the budget and how it will influence the sports betting landscape in Washington, D.C. The outcome could reshape how sports betting is conducted in the area, with potential new players entering the market and existing agreements being re-evaluated.
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- Source: https://news.worldcasinodirectory.com/fanduel-considers-termination-of-dc-lottery-agreement-after-budget-approval-113914
