PointsBet Transition to Fanatics A Work in Progress

Fanatics Underscoreg is rapidly establishing itself as a prominent player in the competitive U.S. sports betting market. With a significant $225 million investment in PointsBet USA, the company is poised for success and growth in the near future.

Fanatics Betting and Gaming announced on Thursday that they have successfully closed deals in eight key states. The Fanatics Underscoreg brand is looking to compete with major sportsbooks like FanDuel and DraftKings in order to establish a strong presence in the market.

The announcement on Thursday clears the path for at least one version of the Fanatics Underscoreg to operate in 11 U.S. states, just in time for the lucrative NFL season.

It’s complicated

The acquisition of PointsBet USA by Fanatics Betting and Gaming was finalized on Thursday. The next phase involves transitioning PointsBet to Fanatics.

Does it sound easy? It’s not. Thursday’s announcement revealed that the transition to legal sports betting will not be straightforward. Instead, it will be a gradual process involving three different products and names under one umbrella, varying by state.

Some states have introduced the Fanatics brand, while others are sticking with PointsBet for now. Some will be temporarily branded as “PointsBet, a Fanatics Experience” until a complete transition occurs.

Attempt to clarify

PointsBet will continue to use their name for their online casinos in New Jersey, West Virginia, and Pennsylvania.

For the time being, six states where PointsBet Underscoreg is currently available will continue to use that branding. These states include Indiana, Illinois, Louisiana, Michigan, New York, and Ohio. The transition to Fanatics Underscoreg will occur once Fanatics Betting and Gaming finalizes deals in each of these states.

Anticipate that New York will be one of the first states mentioned to make the transition, as their regulatory board will convene early this month.

According to the announcement made on Thursday, eight states where PointsBet currently operates will soon be rebranded under the name Fanatics Underscoreg. These states include Colorado, Iowa, Kansas, Maryland, New Jersey, Pennsylvania, Virginia, and West Virginia. Prior to regulatory reviews and a complete Fanatics Underscoreg rebrand, these states will have “PointsBet, a Fanatics Experience” available to customers.

Fanatics currently offers their own branded sportsbook products in Massachusetts, Ohio, Maryland, and Tennessee. Maryland will have both Fanatics and PointsBet wagering brands available for the foreseeable future.

Why the confusion?

Each state has its own unique rules and regulations for legal sports betting providers. In New York, Fanatics must become the sole owner of a sports betting license in order to operate in the state. Transferring a license is not an option. The New York State Gaming Commission will need to vet Fanatics before they can operate as a sportsbook in the state.

Fanatics is in the process of obtaining a license in New Jersey, but has not yet completed the necessary steps. PointsBet is currently operating under a transactional waiver and there is no license transfer needed. Once Fanatics acquires PointsBet, they will need to obtain a new transactional waiver to continue operations in the state, according to a representative from the New Jersey Division of Gaming Enforcement.

The acquisition of PointsBet USA for $225 million by Fanatics and the subsequent rebranding process is proving to be more complex than initially anticipated. Although Fanatics now has market access in the 14 states where PointsBet operated, the complete transition to the Fanatics brand is still being finalized.

However, before the NFL season begins on Thursday, 11 states will implement some variation of Fanatics Underscoreg, although not all will be officially branded as such.

With that being said, Fanatics Underscoreg is now officially making strides in the competitive U.S. legal sports betting market and appears ready to achieve their ambitious expansion goals.