Caesars Gets Key Win in Growing Market
Caesars has had a limited presence in the nation’s capital for a while now, but it has expanded quickly over the last few months. After finding success in the retail market, its online sportsbook is now available throughout the District. Caesars has built a large footprint already, and it is about to get even larger.
Expect to see the kiosks go live quickly with the NFL and NCAA football seasons underway. Combine that with the sharp increase in handle from a revitalized sports betting market, and you can see the motivation to get things up and running quickly.
Fallout From 2025 DC Budget Continues
Things changed forever for the District’s sports betting market after the 2025 budget proposal was passed. It included language allowing for more operator licenses to be created and eliminating GameBetDC as an operator.
The budget was approved in June, and the market has exploded. The market now has five operators: BetMGM, Caesars, DraftKings, FanDuel, and Fanatics.
FanDuel was initially meant to take over as the sole operator in the state, but Caesars, DraftKings, and BetMGM opened quickly after the new budget was passed. Fanatics was the most recent operator to join the market, launching on September 12.
Market Expansion Likely to Continue
The District represents one of the country’s smaller sports betting markets, but that hasn’t stopped operators from seeking access. One reason for that is the poor history of the market under GameBetDC. That means we don’t know where the ceiling is for the market’s handle, leading to interest from several large operators.
While the District will want to prevent flooding the market, they seem focused on pushing expansion. The early returns have been impressive, and the licensing fees are helping to make up for the disappointing numbers seen under GameBetDC.