Fanatics Cleared to Rebrand PointsBet in Eight States

Fanatics’ acquisition of PointsBet over the summer is about to pay off in a significant way. Regulators in eight states cleared the new operator to take over PointsBets’ license. While we don’t know the exact dates when the rebranded sportsbook will launch, we do know it will be called “PointsBet, A Fanatics Experience.” The states they gained clearance to rebrand in are Colorado, Iowa, Kansas, Maryland, New Jersey, Pennsylvania, Virginia, and West Virginia.

Fanatics was able to outbid DraftKings to acquire the US business for PointsBet Sportsbook. The move was made to help Fanatics gain access to many key US markets, as they could use PointsBets’ existing licenses to launch instead of starting from scratch. Pennsylvania was one of the prizes from the acquisition, as it gives them access to one of the largest sports betting markets in the US. Fanatics Sportsbook is currently available in only four states, including Maryland, Massachusetts, Ohio, and Tennessee.

“We are excited about what we are building at Fanatics Betting and Gaming, and this acquisition accelerates our plans,” Fanatics CEO Matt King said of the deal. "We have a 10-year plan that focuses on the customer and not market share.”

Fanatics’ Expansion is Just Beginning

Once these eight markets launch, Fanatics will be in 12 states. That is an impressive total, considering they just launched their full sportsbook on August 9. That number will likely grow again soon, as Fanatics is close to gaining approval to rebrand in Illinois, Louisiana, Michigan, New York, and Indiana. New York is expected to be the largest sports betting market, making it another critical market for Fanatics to gain access too quickly.

Rapid expansion has been Fanatics’ plan for competing with the top US sportsbooks. They spent a lot of time working on a beta test of their platform, resolving as many bugs as possible before their expansion push. We have seen many sportsbooks fail to gain enough market share to compete in the US, but Fanatics hopes a high-quality platform will help keep players coming back.