When Washington D.C. approved sports betting in 2019, the city signed a five-year deal with a company called Intralot. Intralot brought in GambetDC as the sports betting platform. It has not been a fruitful partnership as GambetDC has run a poor game and the results show it.
Ah, but what to do now that the contract nears its end.
According to SportsHandle, it looks like Intralot will get a new contract with a length to be determined by city council. GambetDC could get another lease on life, a short one with a catch. But it’s clear its days are numbered.
If an extension isn’t granted, however, GambetDC would shut down in July with no immediate replacement for bettors in the area.
“On July 15, all lottery and sports wagering operations cease,” D.C. Lottery Director Frank Suarez told a Committee on Business and Economic Development hearing on February 14.
D.C. Lottery, which regulates the whole operation, plans to impose a condition for its support: a subcontract with an operator to handle the sports betting platform. In that case, it eliminates GambetDC from the picture. Suarez suggested a new betting platform should be doable by the end of September.
The lottery already has a replacement in mind. According to Suarez, it’s a top performing high rank operation.
In January a committee heard testimony from DraftKings and Fanatics Sportsbook, both recommending multiple platforms for the competition.
A plan to open up a competitive sports betting market is still on the table, but in the short term the answer is keep the plan as proposed.
GambetDC is not having a good start to the year, with an 18.5 percent decrease in its January betting handle and 20 percent in revenue.
