Fanatics Plans to Launch its US New Sports Betting Division in January, 2023
Fanatics CEO Michael Rubin announced that the company will enter the US sportsbooks industry with the sports betting division early next year. He mentioned that the new kickoff will be January of 2023.
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The NFL playoffs would coincide with the Fanatics US sportsbook launching into business. The prominent sports apparel company would go hand-to-hand with the sports betting industry. Fanatics can pair sportsbook offerings as well as team jerseys.
Early this month, Roundhill Investments tweeted that “Fanatics CEO Michael Rubin said the company will begin launching its sports betting business in multiple states starting in January 2023.”
Fanatics Sportsbook New and Seasoned US Sports Bettors
FanDuel and DraftKings used their daily fantasy sports (DFS) as the way to boost their sports betting all across the US. MGM Resorts International (BetMGM) and Caesars Entertainment (Caesars Sportsbook) used their status in the world of casino gambling to direct attention to their US sports betting.
Fanatics has a new idea in attracting the sports bettors. The apparel company views itself as the one-stop shop for legal sports fans in stadiums, arenas and sports bars across the country. Fanatics Chief Commercial Officer Ari Borod has a “global digital platform for sports” in its arsenal.
Owner of four dozen physical stores worldwide, Fanatics has a presence in the marketplace. The company also provides a land-base and online solutions for more than 50 professional and college programs with licensing agreements. The four major North American professional sports leagues, other professional sports properties and the NCAA are all tied to the deal.
Fanatics has a valuation of $20 billion to use in its favor. A number of sports fans can be added to the large sports betting base.
JMP Securities analyst Jordan Bender spoke at the Saratoga Racing and Gaming Conference this past August. He commented:
“I do expect them to get very creative in leveraging that real estate relationships into other in-stadium sportsbooks.”
He believed that Fanatics could “utilize its team partnerships inside a stadium environment for customer acquisition purposes.”
Fanatics CEO Rubin has portrayed the company’s offerings to differentiate itself from the existing US sportsbooks. He noted that Fanatics would have the edge in lower customer acquisition costs than other sports betting venues.
Fanatics Sports Fan’s Database
Fanatics is overloaded with a database of sports fans in every section of the country from coast to coast. There is a perception that assessing this database would lead to lower costs for acquiring sports betting customers. Rubin’s comments earlier in October about the situation is based on this wealth of statistical data.
Reports about operating in 15 to 20 states with legal sports betting is part of the plan for the beginning of the 2023 football season. Someday in the immediate future, Fanatics’ US sportsbook will be partnered with the original sports fans apparel division.
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