Fanatics Betting and Gaming, the newest big name on the U.S. legal sports betting scene, has signed to serve as the corporation’s exclusive online and retail sports betting provider, according to a Connecticut Lottery press release Friday.
“We are excited to be working with the CLC to bring the Fanatics Sportsbook to customers in Connecticut,” Fanatics Chief Business Officer Ari Borod said of the new partnership. “We are looking forward to bringing the Fanatics experience to the 10 retail locations throughout Connecticut and more importantly, adding our innovative mobile app to the online choices available in Connecticut.”
During a time of rapid expansion for Fanatics, it replaces Rush Street Interactive and the company's online brand PlaySugarHouse as the partner for Connecticut’s Lottery.
Expect the transition to be completed by mid-December.
Why the change?
The Connecticut Lottery Corporation had been on the hunt for a new exclusive Connecticut sports betting apps operator to partner with since Rush Street Interactive announced its intention to pull out of the Nutmeg State's wagering scene. It had previously signed a 10-year agreement to provide services with the corporation back in 2021.
Rush Street brass cited the sportsbook's inability to launch an online casino as a complement to its sports wagering brand as a reason for the departure. The lack of a reasonable market share in the state led to Rush Street's desire to vacate the Connecticut market, which offers Connecticut sportsbook promos.
Under Connecticut law, the lottery is prohibited from offering an online casino option in the state, which is why it needs to rely on betting sites.
The result? RSI's PlaySugarHouse brand was responsible for just a 7.4% market share in October. DraftKings Connecticut held a 50.6% market share, and FanDuel Connecticut finished with a 42.1% share over that 31-day period.
The Fanatics draw for the Connecticut Lottery is simple.
“Fanatics is the only true sports brand in the gaming space and has established itself as an innovator in the industry," CLC President and CEO Greg Smith said. "We have been impressed with the Fanatics team, its aggressive entry into the U.S. sports betting market, and we are excited to see how they redefine the sports betting customer experience here in Connecticut. CLC anticipates notable market share growth as a result of this partnership.”
The building of Fanatics Sportsbook
Fanatics Sportsbook has been out to make its presence felt since its $225-million purchase of PointsBet's operations on American soil earlier in 2023. That deal gave them access to 14 states in the bustling U.S. market.
Connecticut is the eighth state in which the Fanatics Sportsbook will be live, joining the other best sports betting apps in those areas. Expect more states to join the Fanatics Sportsbook family in the coming months.
Fanatics Sportsbook, along with its inevitable Connecticut launch, is currently available in:
Expectations for Fanatics in Connecticut are certainly high.
“With this new partnership, Connecticut sports bettors will enjoy an online sportsbook that makes being a fan easy with fast signup, easy betting, transparent withdrawals, live streaming, industry-leading search functionality, the ability to earn FanCash on their bets, and a curated discover page with the sports and bets that matter most to a customer,” a press release noted.