It’s official: DraftKings launching a D.C. online sportsbook. The long wait will be over for residents of our nation’s capital, who now will be able to wager online with the two biggest legal online sportsbook operators, DraftKings and FanDuel, as well as BetMGM and Caesars. For a while, FanDuel was the only game in town, but now there is set to be some legitimate competition. DraftKings still needs to get certain regulatory approvals but those aren’t expected to be much of an issue.
The news of DraftKings’ intention to expand into D.C. comes on the heels of the operator entering into an agreement to become the exclusive sports betting provider at Audi Field, where D.C. United — of the MLS — plays. BetMGM already operates a sportsbook at Nationals Park, home of MLB‘s Washington Nationals, and Caesars operates a sportsbook at Capital One Area, where the NBA‘s Washington Wizards play. So, it only makes sense for DraftKings to leverage that deal into a more widespread operation in D.C. A DraftKings review of the sports betting landscape surely found some untapped potential in the market.
Of course, the news doesn’t mean that bettors will immediately be able to access DraftKings’ popular app while in the city. What it does mean is that day isn’t too far away and with the operator publicly announcing its plan, it likely means that most of the legal hurdles either have already been cleared or aren’t expected to provide much resistance to the operator’s plans.
DraftKings Has To Keep Up With FanDuel
Based on your perspective or the specific data points you may be looking at, either DraftKings or FanDuel is the biggest online sportsbook operator in the country. Understandably, there’s a huge rivalry between the two, and they are constantly trying to not only one-up each other when possible but, at the bare minimum, keep up when the other undergoes some kind of new growth endeavor. In that way, it makes a lot of sense why DraftKings launching a D.C. online sportsbook.
FanDuel had a big headstart in the capital, and DraftKings wants to keep pace. At first, it’ll be difficult for DraftKings to find success in a brand-new market, but with its brand recognition, easy-to-use app, and cache within the broader sports betting community, it likely won’t be too long before DraftKings becomes a major player in D.C. The capital is the 29th American jurisdiction — the other 28 are states — where DraftKings is set to operate.
While D.C. is only the 22nd-biggest city in the US by population, it can’t be overstated how important it is from a legal sports betting perspective. Of course, it’s the government center of the country and an influential seat of power for politicians, business leaders, and sports figures. Also, three Big Four sports teams play within the city limits, not to mention various college teams as well. Having the ability to take the best bets today with so many operators near the White House or Capitol Hill represents huge progress.
Success In D.C. Could Extend To New States
Another significant potential impact of DraftKings launching a D.C. online sportsbook is that the success of a second huge operator in the nation’s capital could possibly persuade hesitant politicians on the Hill to pursue the legalization of online sports betting in their home states. There are still many states where it has yet to be legalized, for a variety of reasons, which means that there are millions of Americans — and many tourists visiting those states — who have yet to be captured by the market, so to speak.
We know the arguments for and against legalization at this point and some politicians, and their constituents, are still diametrically opposed to legalization for their own reasons. However, all politicians can agree that increased tax revenue at a bare minimum cost or risk to governments — with an added electoral benefit — is a very popular idea and often is a no-brainer, especially if a certain state or municipality is strapped for cash. Plus, legalization can lead to positive consequences beyond pure gambling revenue, like the revitalization of areas around in-person betting establishments or the creation of related businesses, not to mention increased tourism.
Strictly speaking, the inclusion of DraftKings in the online sports betting market in D.C. isn’t going to immediately change minds or bring a world-changing infusion of funds to a city that needs them. But, it’s a continued step toward more and more openness to operators who will continue to grow the industry and make it more appealing to governments and bettors alike.
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