Fanatics Underscoreg Continues Blitz With New York Launch

Fanatics Betting and Gaming, a subsidiary of Fanatics Holdings Inc. and a top sportsbook, has had a successful launch streak, expanding with the opening in the New York sports betting market on Thursday.

The recent launch of Fanatics New York marks the company’s continued expansion of PointsBet’s U.S. operations. After acquiring PointsBet for $225 million earlier this year, Fanatics has been working diligently to establish its sports betting brand and online platforms in states where PointsBet was already established. With regulatory approval granted in October, “PointsBet, A Fanatics Experience” has now entered the New York market and is actively operating.

The latest sports betting app for New York is now ready for download on both iOS and Android. Users who had a PointsBet New York account will have their account information seamlessly transferred to the new Fanatics Underscoreg app upon downloading, including email, username, password, balances, bets, bonuses, and rewards.

The New York market

The New York legal sports betting market, known for its New York sportsbook promotions, is the largest and most successful in the rapidly growing U.S. market. In 2023, the state ended the year with three consecutive months of $2 billion in bets, generating at least $151 million per month in gross gaming revenues for providers.

In January, New York’s sports betting sites and top sports betting apps reached over $3 billion in lifetime revenue, making the state the second after New Jersey to achieve this milestone.

Fanatics achieved a significant goal by entering the New York market. However, the task of surpassing the underperforming PointsBet brand in an established market may prove to be a challenge.

15 states and counting

Fanatics Underscoreg’s launch in New York on Thursday is the brand’s expansion into its 15th state. In just this month alone, Fanatics has already launched in four states – Iowa on Feb. 6, Michigan last Thursday, Indiana on Monday, and now New York.

On March 11, Fanatics, one of the top North Carolina sports betting apps, will enter the thrilling new market of North Carolina sports betting.

Fanatics should be considered a key player in any new market entering the expanding U.S. legal sports betting industry. The company is anticipated to seek licenses in jurisdictions that are seeking to expand their legal sports betting offerings.

The Fanatics factor

Fanatics is currently one of the leading online sports apparel companies globally and aims to maintain its popularity in the future. With a large customer base, the company plans to attract some of its audience to its sports betting offering. Building on its strong brand recognition will be crucial for its continued success.

The top-tier Rewards Program “FanCash” from Fanatics Underscoreg will be introduced to the New York market, where customers can earn up to 5% cash back for bonus bets or purchasing merchandise from their popular online store. Fanatics Underscoreg stands out as the sole sports betting site in New York offering this generous 5% cash back reward.

The effectiveness of Fanatics in attracting sports bettors away from established names like FanDuel, DraftKings, BetMGM, Caesars, and others in the U.S. legal sports betting market is still uncertain.

The company is keeping its promise to remain active in the American legal sports betting market. Everyone will be watching closely to see how the company performs in the four markets it recently entered in February.

The spotlight will also be on Fanatics Underscoreg’s performance in the March Madness tournament, potentially boosting the sports betting brand.