A new operator of online sports betting sites is reportedly poised to launch next week with a new spin on acquiring customers — for instance, would gamblers like their wagering to help them buy a new hat?
The Wall Street Journal reported Thursday morning that sports-merchandise company Fanatics Inc. intends to launch its mobile version of Fanatics Sportsbook on Monday — for Fanatics customers only — in Ohio and Tennessee.
A spokesperson said the company is beta-testing Fanatics Sportsbook in the two states with a small group of users. When that concludes, Fanatics customers in the state will receive a code to access the app.
Launches in Maryland and Massachusetts are expected to follow by June, with the company eyeing a market presence in 12 states by football season, when the general public can gain access, according to the WSJ.
The company's spokesperson confirmed they are aiming for availability in the four states by mid-June, with the app already available for download in Ohio and Tennessee.
Fanatics plans to launch its first gambling app in Tennessee and Ohio on Monday, years after others entered the fast-growing market. CEO Michael Rubin says the sports-merchandising company’s 95 million customers offers an edge over competitors. https://t.co/VvXcKknYyQ— The Wall Street Journal (@WSJ) April 27, 2023
The Wall Street Journal also noted that “Fanatics aims to offer a gambling app that is more like Spotify and less like a Vegas sportsbook,” in that it will recommend betting markets based on a user’s favorite team and so forth. Users will reportedly get up to 5% of their bets returned to them as reward dollars they can use to buy merchandise or attend events.
Fanatics already runs a retail sportsbook inside FedExField in Maryland, but it has steadily been winning over regulators and earning approvals to launch its mobile app across the U.S. For example, the company had its house rules approved this week in Massachusetts.
“Launched in 2021 by Michael Rubin and [former FanDuel CEO] Matt King, Fanatics Betting and Gaming will bring an unparalleled sports betting experience to fans everywhere,” the company noted in a recent press release. “An experience that rewards customers for their passion and commitment with a product that is easy to use and a loyalty program that delivers thanks to FanCash, the new currency of sport.”