FanDuel scorched sports bettors in the nation’s capital in its first full month of action in May, according to figures released by the D.C. Lottery on Wednesday.
The online juggernaut, which began taking bets in mid-April as an eventual replacement for the sports betting revenue.
Those two top-line figures would have qualified as all-time monthly highs dating back to the district’s launch during the COVID-19 pandemic in May 2020. FanDuel ed for more than half of the short-lived April handle record of $26.6 million, while its May revenue haul topped the previous record established in November 2021 at $4.4 million.
The district will receive $486,071 in taxes from FanDuel based on its 10% rate. That’s more than half the $821,200 generated from all sportsbook sources in the first four months of the year.
Notable Uptick in Wagering Action 1j3n27
FanDuel accepted more than 1.2 million bets in May, nearly double the Caesars‘ best month saw it accept 197,952 bets in October 2021.
The average bet placed through FanDuel in May was $24.08, notably lower than the $32.29 GambetDC averaged in 2023.
FanDuel, however, generates a notable amount of action through its same-game parlays. Those bettors often put low-stake amounts on SGPs with high leg counts, driving down the average wager amount in hopes of hitting a parlay with longer odds for a larger payday.
