Fanatics Acquires PointsBet US

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  • gauchojake
    BARRELED IN @ SBR!
    • 09-17-10
    • 34109

    #1
    Fanatics Acquires PointsBet US
    For 150 Million???????? Seems pretty cheap.

  • Brock Landers
    SBR Aristocracy
    • 06-30-08
    • 45359

    #2
    What did pointsbet do to be so bad as to lose that much?

    I don't think I've ever heard of a book that unprofitable
    Comment
    • Optional
      Administrator
      • 06-10-10
      • 61390

      #3
      I think they tried to be a bit too clever for themselves by launching on the gimic that they were a Spread Betting book and never fully gave up on that plan even as they moved to being a "normal" sportsbook.

      Plus they never wanted to compete on price at all I think. But the quality of service just wasn't good enough to support that idea.



      I'd say a big percentage of online bookmaking attempts turn out unprofitable or no better than break even Brock. Especially the ones without properly experienced real world bookmakers running them.
      .
      Comment
      • milwaukee mike
        BARRELED IN @ SBR!
        • 08-22-07
        • 26914

        #4
        Originally posted by Brock Landers
        What did pointsbet do to be so bad as to lose that much?

        I don't think I've ever heard of a book that unprofitable
        draftkings lost over a billion dollars, each of the last 3 years... over 4 billion in losses during those 3 years... and they will lose another billion or so in 2023
        Comment
        • SBR Andy
          Administrator
          • 02-09-22
          • 3898

          #5
          SBR's Dave Bonderoff shares his take on the acquisition: https://www.sportsbookreview.com/new...n-may-15-2023/
          Comment
          • mattyicey
            SBR Sharp
            • 03-03-20
            • 462

            #6
            I have a Pointsbet 2k free bet VIP refer, I hope it stays active with the new purchase
            Comment
            • KDeen10
              SBR Hustler
              • 04-27-23
              • 79

              #7
              Originally posted by milwaukee mike
              draftkings lost over a billion dollars, each of the last 3 years... over 4 billion in losses during those 3 years... and they will lose another billion or so in 2023
              How's DK losing so much money?
              Comment
              • Optional
                Administrator
                • 06-10-10
                • 61390

                #8
                Originally posted by SBR Andy
                SBR's Dave Bonderoff shares his take on the acquisition: https://www.sportsbookreview.com/new...n-may-15-2023/
                "PointsBet shareholders are expected to receive between 71 cents and 73 cents per share, far below the peak of $12.69 the company was trading at in February 2021."

                Ouch


                Originally posted by KDeen10
                How's DK losing so much money?
                Market building instead of concern about profits. The investment should be worth more than the spend in terms of company value and market power I guess.
                .
                Comment
                • milwaukee mike
                  BARRELED IN @ SBR!
                  • 08-22-07
                  • 26914

                  #9
                  Originally posted by KDeen10
                  How's DK losing so much money?
                  good question

                  they've been spending tons on marketing to build the brand, almost a billion in advertising last year... they have a high cost structure, but revenue going way up should fix that shortly

                  dkng revenue in 2018 was 200 million... in 2022 it was 10x that, 2.2 billion... 2023 will be over 3 billion
                  Comment
                  • Optional
                    Administrator
                    • 06-10-10
                    • 61390

                    #10
                    If you are in Tennessee or Ohio it's possible to contact Fanatics and ask to join their App Beta Test.

                    Make a $5 deposit/bet and they give you $150 in bets to help them test out the platform.

                    A couple of people have confirmed they asked and were sent an invite immediately.
                    .
                    Comment
                    • KDeen10
                      SBR Hustler
                      • 04-27-23
                      • 79

                      #11
                      Originally posted by Optional
                      If you are in Tennessee or Ohio it's possible to contact Fanatics and ask to join their App Beta Test.

                      Make a $5 deposit/bet and they give you $150 in bets to help them test out the platform.

                      A couple of people have confirmed they asked and were sent an invite immediately.
                      What if they limited your bets to $1 would they still consider you?
                      Comment
                      • Optional
                        Administrator
                        • 06-10-10
                        • 61390

                        #12
                        Originally posted by KDeen10

                        What if they limited your bets to $1 would they still consider you?
                        Fanatics are not open yet. It's their app beta test.

                        If you mean Pointsbet, i dont know.
                        .
                        Comment
                        • 5mike5
                          SBR Aristocracy
                          • 09-21-11
                          • 51983

                          #13
                          NBA, MLB, NHL, and PGA only sports listed for Beta testers so far. Hopefully won't take long to add some shit
                          Comment
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