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Everything To Know About Fanatics Sportsbook Launch
Adam Martin | 19 mins
There is a new sportsbook coming to challenge the established online sportsbooks, one that could shake things up quite significantly based on the company's reputation. Fanatics, one of the biggest sports memorabilia retailers, will launch Fanatics Sportsbook in early 2023.
Fanatics CEO Michael Rubin has some pretty ambitious goals, and says that his team is in a great position because others have entered the market and spent a ton of money already, while he saved money by waiting.
Let's take a look at what we can expect from Rubin and Fanatics Sportsbook.
What is Fanatics?
Before we get into Fanatics Sportsbook, it’s important to take a look at Fanatics as an overall company first and understand the history of the organization. In 1995, Alan and Mitchell Trager of Jacksonville founded Fanatics Inc. as a retail company specializing in sports merchandise. It then expanded into the online sector.
In 2011, Michael Rubin and GSI Commerce decided to purchase Fanatics Inc. for $171 million in cash and $106 million in GSI Commerce common stock. One year later, Rubin purchased Fanatics Inc. outright from eBay for $2.4 billion.
As part of that deal, Rubin decided to bring back the online business for Fanatics Inc. Since then, it has become by far the biggest online sports merchandise retailer in the United States.
In addition, it has gained several exclusive merchandising deals with some of the biggest sports league in the world, including the NFL. It also purchased the Topps trading card company to add to its portfolio. And now, it has plans on becoming the country’s biggest sportsbook.
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In 2021, Rubin announced that he would be creating Fanatics Sportsbook. As part of the new venture, Rubin brought in legendary hip-hop artist Jay-Z as the Fanatics Vice Chair.
That’s when Fanatics Sportsbook applied for a New York betting license, although they did not receive it (more on that later). In May 2022, the Fanatics Sportsbook name was officially trademarked, which signaled that the sports betting operation was a go.
One month later, Fanatics Sportsbook was in talks to acquire Tipico Sportsbook, although nothing has officially been announced at this point. However, one thing is clear, and that’s that Fanatics Sportsbook is on the way.
With sports betting becoming one of the biggest industries in the United States, Rubin and co. want in, and we should see Fanatics Sportsbook launch soon.
Fanatics Sportsbook Launch Details
Fanatics Sportsbook is expected to launch in January 2023 in all major U.S. states aside from New York. According to Fanatics Sportsbook CEO Michael Rubin, the operator hopes to be in 15 to 20 states by January 2023, which means it would be taking bets just in time for customers to partake in NFL betting during the 2023 postseason.
One of the biggest advantages for Fanatics Sportsbook will be the fact it already has a database of 94 million customers. This means that it won’t have to spend as much money on customer acquisition, which will give it an edge on its competition when Fanatics Sportsbook launches.
Rubin has been in the sports industry for years. He was a former executive of the NBA’s Philadelphia 76ers and the NHL’s New Jersey Devils, but he recently sold his stakes so he doesn’t have a conflict of interest with Fanatics Sportsbook, which is set to launch in January.
Fanatics Sportsbook also recently hired former FanDuel CEO Matt King to run its sports betting division, which once again will give it a step up on its competition thanks to King’s experience.
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Fanatics Sportsbook Legal States
Fanatics Sportsbook has not launched yet, but we do have an idea of where it could launch.
According to Fanatics Sportsbook CEO Michael Rubin, the operator has plans of launching in every major U.S. state, with the exception of New York, due to the high tax rate for operators. The plan is for Fanatics Sportsbook to begin launching in various states in January 2023.
Fanatics Sportsbook Ohio
One of the states we do know Fanatics Sportsbook plans to launch in is Ohio. On January 1, 2023, Ohio sports betting will be legal, and many online sportsbooks will be making their way to the Buckeye State. One of the sportsbooks expected to launch in the state is Fanatics Sportsbook Ohio.
Fanatics Sportsbook Ohio is set to partner with the NHL’s Columbus Blue Jackets for online and retail sports betting. On top of that, Fanatics Sportsbook Ohio is expected to be a retail sports betting partner of the MLB’s Cleveland Guardians.
With all of this in mind, Fanatics Sportsbook Ohio is bound to be a big success.
Fanatics Sportsbook Maryland
Another state where we know Fanatics Sportsbook plans on launching is Maryland. Like Ohio, Maryland online sports betting has not launched yet. However, it will only be a short time until Maryland sports bettors can bet on sports online. One of the sportsbooks expected to be available in Maryland when online sports betting launches is Fanatics Sportsbook Maryland.
Fanatics Sportsbook Maryland is among the 10 online sports betting operators that was initially approved by the Maryland Lottery and Gaming Control Agency. Fanatics Sportsbook Maryland is expected to have a hearing in November with the Sports Wagering Application Review Commission to get final approval for its license.
From all accounts, Fanatics Sportsbook Maryland will be given the green light to launch its sports betting platform when online sports betting goes live in Maryland, which is expected soon.
Fanatics will be going toe-to-toe with established sports betting giants like Caesars and FanDuel in new states launching this winter, so it will be fascinating to see how this plays out.
Keep this page bookmarked for updates on when Fanatics will launch in your state.
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