Fanatics Sportsbook: Everything You Need To Know
The legal sports betting market in the US is currently in a state of unprecedented boon unlike anything we’ve seen before. From Arizona to New York, sports fans across the nation are craving opportunities to start their wagering journeys with a reputable online sports betting brand.
Enter the Fanatics Sportsbook. As sports betting industry heavy hitters such as DraftKings, FanDuel, Caesars, and BetMGM continue to dominate the space, Fanatics has been toiling in the shadows, waiting for the right time to launch their own sportsbook operation.
When that will happen exactly is still anybody’s guess. That said, there is some compelling evidence backing up the fact that we’ll see a Fanatics sports betting app and website up and running sooner rather than later.
To help you gather the information you need about a potential Fanatics Sportsbook launch in the near future—we’ve got you covered. Sit back and relax as we guide you through some of the finer details of everything we know about this potentially industry-altering sports betting app and site.
Fanatics Sportsbook Sections:
- What To Expect From the BetFanatics Platform
- What Is Fanatics?
- What Could the Fanatics Sportsbook Look Like?
- Fanatics Sportsbook: Latest News & Updates
- Fanatics Sportsbook FAQ
- Top 5 Online Sports Betting Apps You Can Use Today
While there are still no concrete details to share about the upcoming BetFanatics platform, you can rest assured knowing that it should compete with some of the best online sports betting apps and sites on the market.
Fanatics betting and gaming division has been very strategic with their sportsbook hires and brought on Chris Fargis, a former director of operations at DraftKings, to work in a new senior director role in August 2022. All the hires that Fanatics has made are in line with a mobile app and site that is ready to compete at the highest level with a very healthy budget.
There is an expectation among industry experts that BetFanatics will have some of the juiciest welcome promos when they eventually launch. Though there are no specifics on what that could be, Caesars Sportsbook’s now-defunct $5,000 risk-free bet comes to mind as a potential comparison.
With the money being pumped into the BetFanatics platform, it’s also highly unlikely that their app will disappoint. On May 14, 2023, Fanatics announced that it had agreed to acquire PointsBet’s U.S. assets for $150 million. That deal includes access to the 14 states where PointsBet was previously legal and operational as an app in the U.S.
Fanatics Inc. is one of the largest sports companies the world today. They are perhaps most well-known for selling official merchandise for sports leagues like the NFL, NBA, MLB, NHL, and more.
— Fanatics (@Fanatics) May 10, 2022
Initially started by brothers Alan and Mitch Trager as retail storefront in Jacksonville, Florida back in 1995, they eventually grew a significant online presence and expanded their e-commerce operations in the early 2000s.
As their success blossomed, the Trager brothers would capture the attention of Philadelphia-based businessman Michael Rubin and GSI Commerce. In 2011, Rubin and GSI Commerce purchased Fanatics for $171 million in cash and $106 million in GSI stock.
It’s safe to say that the return on investment has certainly worked in Rubin’s favor. With an $18 billion valuation as of August 2021, Fanatics is one of the largest sports companies in the world today.
Who Owns Fanatics?
In its current form, Michael Rubin is the founder and CEO of Fanatics Inc. Rubin is also the co-owner of the NBA’s Philadelphia 76ers and NHL’s New Jersey Devils. As of September 2021, Rubin’s net worth was an estimated $8 billion.
Rubin is also the co-chair of the REFORM alliance, which is a non-profit organization dedicated to prison reform in the United States. Rubin teamed up with superstar rappers Jay-Z and Meek Mill, among others, to put together this organization.
So, what can sports bettors expect from when the Fanatics Sportsbook inevitably launches sometime in the future?
Well, the first thing to note is that Fanatics is a multi-billion-dollar sports company with some of the most influential backers from the business and entertainment worlds. What that essentially translates into is that, in the words of Fanatics vice chairman Jay-Z, “money ain’t a thang.”
— Front Office Sports (@FOS) May 23, 2022
We can expect the Fanatics Sportsbook to invest plenty of resources into the Fanatics Sportsbook app and site. They’ll likely have an ultra-smooth user experience that will rival the likes of top-tier online sports betting apps and sites such as DraftKings and FanDuel. It’s also expected that this app will be universally accessible through the App Store (iOS) and Google Play (Android).
In that same light, it’s also very possible that we see Fanatics enter the sports betting market with a very juicy first bet sportsbook bonus. At one point in time, Caesars Sportsbook even offered a $3,000 welcome bonus and it wouldn’t be all that shocking to see Fanatics go a similar route given their deep pockets.
You can also be rest assured that you’ll probably see a ton of Fanatics Sportsbook references in pop culture at large. Jay-Z and Meek Mill both have close ties to Fanatics CEO Michael Rubin and it wouldn’t be surprising to see plenty of ads for Fanatics Sportsbook even tucked away in music videos and other media.
Check back in with this section for the latest news and updates about Fanatics Sportsbook and their potential launch.
- June 30, 2023: After weeks of speculation about a sale of PointsBet US assets, PointsBet shareholders have finalized a $225 million sale to Fanatics Sportsbook. Fanatics Sportsbook gains access to major sports betting markets through the deal, with PointsBet currently operating in 14 US states including New York, New Jersey, Michigan, and Pennsylvania.
- May 25, 2023: Fanatics Sportsbook is launching in Massachusetts just in time for Game 5 of the NBA Eastern Conference Finals between the Boston Celtics and Miami Heat. Fanatics customers in the Commonwealth can sign up with this new sportsbook just in time for this pivotal matchup with the Celtics down 3-1.
- May 14, 2023: Fanatics Betting and Gaming announces that is has agreed to purchase PointsBet’s U.S. assets for $150 million. The deal will give Fanatics Sportsbook access to PointBet’s 14 legal U.S. markets.
- April 28, 2023: A Fanatics Sportsbook representative tells Sports Betting Dime that the online sportsbook may be available in Massachusetts and Maryland by mid-June 2023. It is also possible that the sportsbook will be available in Ohio and Tennessee by May 1.
- January 20, 2023: After months of speculation, Fanatics Sportsbook made history by opening the first retail sportsbook location directly inside an NFL stadium. Fanatics Sportsbook opened an in-person betting location in partnership with the Washington Commanders at FedEx Field, with Commanders super fan Chris Bryant placing the first wager.
- January 12, 2023: Fanatics Sportsbook has officially been approved for a Massachusetts sports betting license. Fanatics CEO Matt King confirmed the new sportsbook is targeting a Q1 2023 go-live date, saying a launch alongside other Massachusetts sports betting operators in March is feasible.
- January 4, 2023: During a license approval hearing with the Massachusetts Gaming Commission, Fanatics Sportsbook confirmed the unreleased platform will be powered by code from sports betting tech provider Amelco. Other updates during this meeting included a closed doors presentation of what the BetFanatics app might look like, with Matt King (CEO of Fanatics Betting & Gaming) announcing plans to launch in Q1 2023 before deploying in the majority of available markets by Sep. 2023.
- November 16, 2022: Fanatics receives approval for their second sports betting license as a brand in Ohio. They were one of 14 new sports betting licensees to be approved in the state. It is unclear whether they will be ready to launch in time for the arrival of Ohio online sports betting on Jan. 1, 2023.
- October 11, 2022: Fanatics CEO Michael Rubin commented at the CAA World Congress of Sports that the company’s sports betting business will begin launching in multiple states in January 2023. Rubin expects Bet Fanatics to be in every major state besides New York by the next NFL football season.
- September 13, 2022: Fanatics Inc. has hired Jason White for the Chief Marketing Officer position with Fanatics Betting and Gaming. The Fanatics Sportsbook, which will most likely go by the BetFanatics name, continues to staff up ahead of a highly-anticipated sports betting launch.
- August 31, 2022: New York Sen. Joseph P. Addabbo is planning to discuss the potential for additional sports betting operators during the next legislative session in the Empire State. This could pave the way for more sports betting operators like the Fanatics sportsbook and their currently unreleased BetFanatics platform.
- August 30, 2022: While no launch date has been announced, Fanatics CEO Michael Rubin commented to Colin Cowherd that the Fanatics Sportsbook will begin accepting wagers on the Philadelphia 76ers by the end of 2022. Rubin sold his stake in the 76ers’ parent company in order to expand into sports betting, with a new sportsbook likely to be named BetFanatics.
- August 17, 2022: Fanatics has hired a former DraftKings director of operations in a new senior director role as they gear up to launch a brand new sportsbook. Chris Fargis has joined the team as senior director of trading risk, a sign that Fanatics Sportsbook is one step closer to becoming a reality.
- July 9, 2022: It appears as if Fanatics Sportsbook is gearing up for the Jan. 1, 2023 Ohio sports betting launch. Fanatics Sportsbook officially applied for an online sports betting service provider license from the Ohio Casino Control Commission.
- June 23, 2022: The Maryland Lottery and Gaming Control Agency (MLGCA) has approved Fanatics to receive their first sports betting license as a brand in the state. It is currently unknown when they will officially launch in Maryland.
- June 23, 2022: CNBC is reporting that Fanatics is in talks to purchase the German-based sports betting company Tipico. While talks are ongoing, a deal has yet to be officially closed as both sides appear to be at an impasse over price.
- June 22, 2022: Fanatics Inc. founder and CEO Michael Rubin announces that he is selling his 10% stake in the company (Harris Blitzer Sports & Entertainment) that owns the Philadelphia 76ers and New Jersey Devils. Many believe this move will open the door for Rubin to focus on launching the BetFanatics brand in the near future.
- May 17, 2022: Fanatics applies for a “BetFanatics” trademark with the U.S. Patent and Trademark Office. The move is seen as a potential precursor to a full-on sports betting launch for the brand in the very near future.
- January 3, 2022: Fanatics acquires the Topps trading card company. The deal, which includes Topps’ entire collectable arm, is valued at roughly $500 million. It also supercharges the Fanatics Trading Cards division of the company as 350 global employees from Topps will be moved over to Fanatics.
- November 8, 2021: The New York State Gaming Commission awards sports betting licenses to nine different sportsbooks: FanDuel, DraftKings, BetMGM, Bally Bet, Caesars Sportsbook, PointsBet, WynnBET, Rush Street Interactive, Kambi, and Empire Resort. Despite their efforts, a potential Fanatics Sportsbook was not included among other misses such as Barstool Sportsbook and FOX Bet.
- September 2021: The Fanatics Sportsbook is closer to becoming a reality after productive talks to potentially acquire Rush Street Interactive, owners of BetRivers and SugarHouse, and/or Betsson. They are attempting to set up their sportsbook in time for the online New York sports betting launch in January 2022.
- August 16, 2021: Sean “Jay-Z” Carter has joined the Fanatics investment group to strengthen their bid to launch a sportsbook in New York when online sports betting is legalized in the state. Jay-Z was named vice chairman on the board of directors for the new Fanatics Betting and Gaming sector alongside Fanatics CEO Michael Rubin.
- June 21, 2021: Former FanDuel CEO Matt King has been named the new CEO of Fanatics Betting and Gaming. With years of experience in the iGaming and sports betting industries, King has likely been brought in to help build the new Fanatics Sportsbook.
You’ve got questions. We’ve got answers. Here are the key FAQs when it comes to the Fanatics Sportsbook:
When is Fanatics Sportsbook launching?
Fanatics Sportsbook is likely to launch sometime in 2023 once they set up their operations as an official sportsbook.
Where is Fanatics Sportsbook available?
When Fanatics Sportsbook launches, it is likely to become available in many states across the country.
What is the best Fanatics Sportsbook promo?
While there are no Fanatics Sportsbook promos available yet since they have yet to launch, they are likely to match some of the top sportsbooks in the US such as Caesars Sportsbook, DraftKings Sportsbook, and more.
How will Fanatics Sportsbook compete with other major US sportsbooks?
Fanatics Sportsbook has plenty of money and resources and it's likely they will have the power to become a top five sportsbook in the United States.
When will the BetFanatics app launch?
The BetFanatics app is expected to launch sometime in early 2023 once they officially announce their sportsbook.
While the sports betting world anxiously awaits the arrival of Fanatics Sportsbook, there are already some fantastic options (and great welcome offers) on the table for you. To help sift through the noise, we’ve broken down our top five below.
One of the biggest names in the betting industry today, Caesars Sportsbook offers an excellent app and user experience that is perfect for first-time bettors and veteran sharps alike. Their $1,100 risk-free bet is a stellar welcome offer that many other sportsbooks can’t rival.
Spearheaded by the ever-colorful Dave Portnoy and backed by Penn National Gaming, Barstool Sportsbook has a super loyal cult following that has translated into a very successful online sportsbook following. Pair that with their great $1,000 risk-free bet and you’ve got a recipe for success.
There’s few sportsbooks that can match the brand name power BetMGM has. The company is synonymous with Las Vegas and sports betting around the country, so it makes them a very appealing option for sports bettors. Equipped with a $1,000 risk-free bet, they’re one of the top dogs for a reason.
One of the real OGs of the online sports betting industry, DraftKings Sportsbook has a sparkling reputation among new and recurring sports bettors. Their deep experience in sports betting and iGaming makes them stand out among competitors and a $1,000 risk-free bet welcome offer isn’t terrible either.
Another revered name in the sports betting industry, FanDuel Sportsbook has plenty of experience delivering fantastic sports betting experiences to new and veteran bettors alike. With a great $1,000 risk-free bet welcome offer on tap, FanDuel Sportsbook is among the very best sports betting apps and sites you’ll find on the market today.
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