Fanatics made a splash in June with its acquisition of PointsBet. The $250-million deal provided Fanatics Sportsbook with immediate market access to 14 states across America.
This launch as a Virginia sports betting app immediately puts Fanatics up against the biggest and best sports betting apps. Fanatics joins FanDuel, DraftKings, BetMGM, Caesars, bet365, and BetRivers among the state’s 16 sports betting providers.
What is Fanatics
Though it's not the most recognizable name in the U.S. legal sports betting industry, Fanatics Sportsbook threatens many of the second-tier best sportsbooks, both in Virginia and across the country.
Fanatics is known as the world’s largest sports apparel and collectibles company and will bring a reported 95-million-person database of customers to the legal sports betting scene.
PointsBet, for which Fanatics Sportsbook is taking over, was estimated to be the seventh-largest sportsbook in the American market prior to its sale.
It's believed that brand recognition for the sports apparel company can boost market share in the jurisdictions in which it now has a presence.
Those who previously held a PointsBet account will experience an easy transition to the Fanatics brand.
Users of the PointsBet platform will still need to download the Fanatics Sportsbook app, but their credentials will be carried over. Account balances will also be automatically transferred to the Fanatics Sportsbook app.
The transition will include a chance to earn $200 in Virginia sportsbook promos for users that place a minimum $10 bet over a five-day period. Each day, users will gain $40 in bonuses for placing a $10 bet, regardless of the outcome of that wager.
Fanatics Sportsbook Rewards
Fanatics' Virginia launch will allow new users to take advantage of what the company deems a Fanatics Sportsbook’s Rewards surge.
It will provide users with seven days of timely promos and boosts for the busy Thanksgiving week of sports action.
Fanatics FanCash will also kick off immediately upon registration of the brand. It provides 1% to 5% in FanCash that can be used at the Fanatics full-stocked merchandise store.
Busy month for Virginia
The Virginia legal sports betting industry has experienced some serious turnover in the last month or two. Not only did Fanatics take over from PointsBet over the last 30 days, but the highly anticipated ESPN BET brand took the place of Barstool Sportsbook in the state, and SuperBook was also welcomed to the state's legal sports betting family.
The return of NFL and college football action, along with the start of the NBA and NHL seasons has made it a busy time for Virginia sports betting apps and retail sports wagering providers. October's figures haven't been released just yet, but the state's best sports betting sites combined for a $520.3-million handle in September.