Sports Betting News

Fanatics Sportsbook Goes Live in Four States

Fanatics Sportsbook Goes Live in Four States

The U.S. sports betting industry grew again this week as Fanatics Sportsbook has now officially gone live in four states. This full launch comes after a beta testing period in which Fanatics was only available to those through a promo code.

Sports bettors in the state of Maryland, Massachusetts, Ohio, and Tennessee are now able to unlock all of the features of the Fanatics Sportsbook. This only became a possibility for Fanatics after it agreed to acquire all of the U.S. assets of PointsBet Sportsbook.

One of the assets that Fanatics was able to acquire in the agreement was access to Banach Technology, which will create a terrific online sports betting platform. While bettors are going to see a major change from what they are used to with PointsBet, some of the same technology will be used.

This deal between Fanatics and PointsBet is not yet complete, but it is expected to close by the end of this month. The reason that Fanatics was only able to launch in four states is that these are the states that allowed a quick transfer of the sports betting license.

Fanatics Beating ESPN BET to Launch

Launching before the start of the 2023 NFL season was an important goal for Fanatics, but this full launch was important for another reason as well. The Fanatics acquisition of PointsBet wasn’t the only major news story in this industry, as PENN Entertainment also reached a deal with ESPN.

Just as that deal was getting announced, PENN announced that it was cutting ties with Barstool Sports after a run that wasn’t very successful. PENN and ESPN are going to combine forces to create ESPN BET, and that could be a major player in the industry.

Because PointsBet and Penn already had market access in several of the same states, Fanatics is going to be in direct competition with ESPN BET moving forward. Fanatics had been beta testing for close to six months, but the company quickly launched it’s full sportsbook in an effort to beat ESPN.

Both Fanatics and ESPN BET are going to have plenty of work to do if they really want to be a major player in this industry. Operators such as DraftKings and FanDuel continue to have a hold on the market, and that won’t be changing anytime soon.

Fanatics Launching Unique Rewards Program

Most people know the name “Fanatics” as a sports apparel company, and they are going to play into that with their rewards program. They had to end a campaign that gave out Fanatics cash as a signup bonus, but bettors will still be able to get some discounts after wagering.

The biggest reward offered from Fanatics will be a 5% cash back offer on all same game parlays. That can be used on future bets, or it can also be applied to purchases made on the Fanatics website.

As Fanatics starts to launch in other states, you can expect to see more offers in an effort to remain competitive.

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