Fanatics continues to enter more markets in its quest to become a major player in the sports betting industry. Colorado is the latest state in which Fanatics has launched but it won’t be the last.
Fanatics Replaces PointsBet
Fanatics purchased the U.S. assets of PointsBet earlier this year for $225 million and since that time it has been integrating its sports betting app with that of the PointsBet app, allowing those customers to hop on the Fanatics bandwagon without any hassle.
Earlier this month, Fanatics went live in the Centennial State, and Colorado PointsBet customers were prompted to make the switch to Fanatics. Fanatics launched in Ohio, Maryland, Massachusetts, and Tennessee while Virginia and West Virginia were also recently added to the burgeoning list of states where Fanatics is live.
And those states in which PointsBet hasn’t yet been consumed by Fanatics, customers are seeing “PointsBet, a Fanatics Experience.” It won’t be long before Fanatics is the lone name in that clunky moniker and will be expanding in more states.
Next Up – Connecticut
Fanatics has partnered with the Connecticut Lottery as it prepares to fully launch in the Constitution State on December 18th while a soft launch will accommodate up to 2000 mobile customers in the days before the app is opened to all those in Connecticut.
In a press release, Greg Smith, president, and CEO of CT Lottery commented on the partnership: “We have been impressed with the Fanatics team, their aggressive entry into the U.S. sports betting market, and we are excited to see how they redefine the sports betting customer experience here in Connecticut. CLC anticipates notable market share growth as a result of this partnership.”
A Fanatics company press release read: “Fanatics Sportsbook will be the official odds provider for all CT Lottery retail sports betting locations and offer legal betting markets for all major sports including professional and college football, basketball, hockey, baseball, alongside tennis, soccer, golf, MMA, and boxing. The development and trading of sports betting markets will be done in-house at Fanatics Betting and Gaming and supported by a number of world-class trading suppliers.”
Filling the Void
Fanatics stepped in to fill the void left by Rush Street Interactive’s PlaySugarHouse sports betting app in partnership with the Connecticut Lottery. In March, the pair mutually agreed to terminate the relationship which allowed an opening for Fanatics to enter a market in which only two other sports betting providers, DraftKings and FanDuel, operate.
Richard Schwartz, Chief Executive Officer of Rush Street Interactive, spoke about the relationship, “We thank the CLC for their partnership over the last two years. We are proud of what we have accomplished together in Connecticut and have enjoyed the relationships that we have built with the players.
“Consistent with our long-term strategic goals, after much deliberation and discussions with the CLC, we believe it is in the best interest of RSI and our stockholders to wind down this partnership.
“As is consistent with nearly everything we do at RSI, both RSI and the CLC remain committed to putting our players first. Through the transition, we plan to continue to support all player wagers and ensure a positive player experience and expect the changeover will have an immaterial impact on our guidance for 2023.”
