The Fanatics Sportsbook has officially launched in Virginia, marking the seventh state for the emerging sportsbook platform. This entry into the Commonwealth is a significant move for the company, as Virginia is home to approximately 8.7 million residents, many of whom live in some of the wealthiest counties in the US.
The sportsbook app is now available on iOS and Android, providing Virginians with access to a wide range of betting options. To celebrate the launch, Fanatics is offering a “Rewards Surge,” allowing bettors to receive up to 5% back in FanCash, the sportsbook’s loyalty program. This FanCash can be used for bonus bets or to purchase eligible merchandise on Fanatics.com.
Fanatics Sportsbook is rapidly expanding following its acquisition of PointsBet earlier this year. Founded in 2011, Fanatics is an American manufacturer and online retailer of licensed sportswear for various leagues, including the NFL, MLB, NBA, NHL, Formula 1, and NASCAR. In May, Fanatics agreed to acquire PointsBet’s US sports betting business for $225 million, outbidding DraftKings in the process.
For former PointsBet users in Virginia, they must download the Fanatics Sportsbook app to continue their online wagering. They can then log in using the same credentials they used on PointsBet.
With the launch coming just in time for a busy sports calendar over the long Thanksgiving holiday weekend, Fanatics Sportsbook is aiming to make an impact. The company is establishing its presence in Virginia ahead of a packed schedule of college hoops and NFL games.
Fanatics Sportsbook is also taking part in a responsible gaming campaign, along with DraftKings, FanDuel, and ESPN Bet. The campaign targets the NBA, NHL, and NFL and encourages bettors to participate responsibly. The company hopes to emphasize the importance of responsible betting and always setting limits, with the newly launched ad campaign, “Never Know What’s Next.”
With this expansion into Virginia, Fanatics Sportsbook is looking to establish itself as a significant player in the competitive US sports betting industry. While the company currently holds a smaller market share, analysts believe that its extensive customer database from its merchandise business could provide opportunities for growth in the betting industry.