Fanatics Sportsbook carve out a niche in US

Article posted by Coliseum, August 25^th, 2023

Image: Fanatics

After months of beta testing, the Fanatics Sportsbook is now live in four States in the United States.

‘PlayUSA’ stated that customers in Maryland, Massachusetts, Ohio, and Tennessee have full access to the Fanatics Sportsbook after previously needing a code to sign up. With less than three weeks to go before the National Football League (NFL) betting starts (the 2023 NFL season begins on September 7^th), Fanatics has placed itself in an excellent position to expand its customer base.

Beta testing is an opportunity for real users to use a product in a production environment to uncover any bugs or issues before a general release. Beta testing is the final round of testing before releasing a product to a wide audience.

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Fanatics Sportsbook is the sports betting division of the Fanatics brand. Known primarily for its apparel brand, Fanatics is aiming to leverage its strong customer base into being a major online and retail sports betting operator.

New York (US)-based the National Football League (NFL) is a professional American football league that consists of 32 teams, divided equally between the American Football Conference and the National Football Conference.

All Agog

In a news release, the company said it was excited to officially launch its product to the public complete with new features.

Said Scot McClintic, Chief Product Officer at Fanatics Betting & Gaming, “We are laser-focused on solving pain points facing customers by offering a faster, easier and a more rewarding sports betting experience. The strategic patience to build a product for the long term has given us an opportunity to redefine a customer’s expectation of what a sportsbook should be. With the Fanatics Sportsbook product foundation built and wholly-owned, customers should expect unparalleled speed of feature improvement, delivery and innovation.”

Fanatics Betting & Gaming is building an online and retail (physical location) sports betting (‘Sportsbook’) and online casino (‘iGaming’) real-money wagering platform.

‘PlayUSA’ further stated that another piece of the puzzle is the company’s acquisition of the Denver (US)-based cutting-edge, digital sports betting and technology company PointsBet. In June, Fanatics purchased PointsBet, which at the time was the seventh-largest betting operator in the United States, for roughly $225 million.

Fanatics said it would integrate the best parts of the PointsBet tech platform to supercharge its online sports betting engine.

In addition, the company would also:

“Leverage PointsBet’s quantitative-driven trading models from Banach Technology (software company in Dublin, Ireland) in its new state-of-the-art risk and trading platform.”

New Fanatics Sportsbook Features

Aside from the standard sports betting experience, the Fanatics Sportsbook offers cash back in the form of FanCash, which can be used for free bets. In addition, customers can use FanCash to purchase merchandise on the Fanatics website.

The Fanatics rewards include:

Five (5) percent back for same game parlays (turn an initial stake or winnings from a previous bet into a greater amount by gambling);
Three (3) percent back for parlays and futures (bets placed on an outcome that’s decided in the future);
One (1) percent back for straight bets (an individual wager on a game or event that is determined by a spread, money line or total);
0.5 percent back on slots (slot machine); and
0.13 percent back on table games (one or more players who are competing against the house [the casino itself] rather than each other).

Additional features include a withdrawal tracker, a betting discover page, easy search tools, and a sports ecosystem.

The Fanatics are in an interesting position no other sports betting operator has ever been in. The company comes with a well-established retail market, and now, customers have a one-stop shop for retail purchases and betting on sports.

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