Fanatics Betting and Gaming, the sports betting subsidiary of Fanatics, has launched its online sports betting app, Fanatics Sportsbook, in the states of Maryland, Massachusetts, Ohio and Tennessee.
The app will facilitate sports betting, feature a ‘Discover’ function, provide live scores updates, have search functionality, cash out options and display odds.
In addition to traditional money line bets, additional markets will include spread bets, over/under bets, player bets, same game combo bets and live bets.
Following the $225 million acquisition of PointsBet in June, as well as the integration of its proprietary technology division, Banach Technology, Fanatics incorporated PointsBet’s assets to power its sports betting platform.
Quantitative trading models from Banach Technology and, by definition, PointsBet, will also be used to power Fanatics‘ risk and trading platform.
Following the acquisition, PointsBet recorded AU$5.74 billion in trading volume in its 2023 annual results, representing an increase of 14.6% compared to the full year 2022.
In total, AU$2.91 billion came from PointsBet’s US operations, while AU$2.82 billion came from its combined operations in Canada and Australia.
Fanatics is optimistic about the coming months of the year
Scot McClintic, Director of Product at Fanatics Betting and Gaming, said, “After 6 months of beta testing, we are thrilled to officially release the Fanatics Sportsbook product to the public.”
“We are focused on solving the pain points that customers face by providing a faster, easier and more rewarding sports betting experience.”
“The strategic patience of building a long-term product has given us the opportunity to redefine customers’ expectations of what a sports book should deliver,” added McClintic.
The sports betting app will be available on iOS and Android devices and will include the FanCash player loyalty program.
McClintic further emphasized, “With the solid foundation of the Fanatics Sportsbook product, wholly owned by us, customers should expect unmatched speed of feature enhancements, delivery and innovation.”
