The Washington D.C. Council’s expansion of the city’s sports betting market is welcomed news to the District’s resident bettors and daily out-of-town commuters. It also represents a new reality for U.S. sports betting nationwide.
One of the first jurisdictions to approve legal mobile sports betting, Washington, D.C. policymakers in 2019 engineered a de facto city-wide digital sports betting monopoly. Councilmembers damaged the market further with a no-bid contract to Intralot, the city’s lottery provider, to create a sportsbook.
DraftKings and FanDuel have essentially created a U.S. duopoly, grabbing between 66% and 75% of the total market share in most states in which they operate. Another 10-15% or so of share is split between the No. 3 and No. 4 . This leaves low single-digit shares apiece for the next wave, including ESPN BET, Fanatics, bet365, BetRivers, and Hard Rock.
DraftKings and Fanatics have both publicly lauded the D.C. Council’s move and seem poised to strike market access partnerships. That leaves two spots – and the possibility they may not be filled.
Business Business Latest News, Business Business Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Source: Covers - 🏆 341. / 59 Read more »
Source: Covers - 🏆 341. / 59 Read more »
Source: Covers - 🏆 341. / 59 Read more »