Fanatics Sports Betting App to Launch in Two US States Next Week
Fanatics, known as the ultimate sports apparel and Fan Gear Store, has been preparing to enter the sports betting industry for some time. The company’s first retail sports betting location is currently live in one retail location at FedExField in Maryland, with plans for a statewide expansion and entry into multiple sports betting jurisdictions across the United States. Fanatics is now set to launch its online sports betting app in two US states, Tennessee and Ohio, as early as next week. This launch will put Fanatics up against established industry giants such as BetMGM, FanDuel, and DraftKings, who currently hold approximately 80% of the sports betting market in the country. However, Fanatics enters the sports betting market with a competitive advantage in its “FanCash” customer loyalty program. The program is expected to drive customer retention and engagement by allowing sports bettors to access merchandise and other perks by exchanging FanCash. Fanatics’ CEO, Michael Rubin, has hinted that the company anticipates expansion to 12 or even 15 US states by the start of the 2023 football season, which comes as no surprise considering the strong presence of its sports collectibles and merchandise businesses.