Fanatics Now Live in 13 States Following Michigan Launch

Michigan sports betting updated its list of operators last Thursday, adding Fanatics to the list of legal sportsbooks.

“Fanatics Betting and Gaming, a subsidiary of Fanatics Holdings Inc, a global digital sports platform, launched the Fanatics Sportsbook & Casino [Thursday] in Michigan,” the company confirmed in a statement. “Sports fans living in and visiting Michigan will be able to download the Fanatics Sportsbook on iOS and Android and begin their Fanatics Sportsbook and Casino experience.”

The company purchased PointsBet’s North American assets, including licenses, last year. As the license transfers were processed and the company was approved for launch, it's been able to slowly expand its reach across the country.

Michigan is the second state Fanatics launched in during February, along with Iowa on Feb. 6. It also joined the local markets in Pennsylvania and Vermont in January. 

Fanatics is now live in:

• Colorado
• Connecticut
• Iowa
• Kentucky
• Maryland
• Massachusetts
• Michigan
• Ohio
• Pennsylvania
• Tennessee
• Vermont
• Virginia
• West Virginia  

PointsBet customers were informed earlier in the week of the impending switch and told their account information and balances were transferred to the new platform.

It took well over half a year to get Fanatics into the Michigan market, though it is not even close to the last state the company still has to add. Fanatics still has pending licenses in six states, including powerhouses New York and New Jersey. It will also gain entry to North Carolina when its market goes live on March 11.

There are now 14 online sportsbooks available for Michigan customers, including market leaders FanDuel, DraftKings, BetMGM, and Caesars, and the young but impressive ESPN Bet.

Fanatics will hope to bring its new energy and unique offerings to a jurisdiction that its predecessor, PointsBet, struggled to find traction in. The company accepted just under $400 million in bets and claimed $33.8 million in revenue from its late-January launch in 2021 until its final day of operation.

For comparison, FanDuel (partnered with MotorCity Casino) claimed more than half of that with a $214 million handle in January.

Early reports from a variety of states suggest that Fanatics is off to a promising start. But beyond that, it’s poised to at least mount a good battle against the more established operators because of its commitment to innovation.

The company rolled out a rewards program called FanCash, which helps customers accumulate site credit with every bet (even the losing ones). With every wager, customers will earn 5% back on same-game parlays, 3% on parlays, and 1% on straight bets and odds boosts.

While other sportsbooks also offer site credit, they don’t do it in the same way that Fanatics does. Users have the option of using their FanCash to fund bets, or they can use it to earn discounts on eligible merchandise items from the company’s store.

Fanatics will have its first major opportunity to make a dent in the Michigan market when March Madness begins in a few weeks. Although it is not quite as popular as the almighty Super Bowl, it will give the company a solid month or unrelenting action for bettors to wager on.

Although Michigan’s online casino and internet gaming report for February has not been released—largely because the month hasn’t concluded—the total betting handle was down to $229.6 million during January, a 5.4% decrease compared to December. That comes as a bit of a surprise since the month included several weeks of the NFL playoffs and the College Football Playoff.