I washed after every meet, used Woolite on gentle cycle in the washer then hung to dry. Never a problem. I will admit that I always was fearful for the 1st wash, but there was never a problem and then I'd be fine the rest of the season.
I wash in machine after each meet. Instructions said never to hand wash as it could bleed. Honestly, I don't even use Woolite. Just regular detergent with her other leos and lycra material stuff. I do turn it inside out and put it in a lingerie bag, though Then I lay flat to dry.