Fanatics to launch sportsbook

The digital sports platform is aiming to be live in 20 states by the start of the 2023 NFL season.

Digital sports platform Fanatics is set to launch its own sportsbook in January, as well as investing in new divisions focusing on NFTs and other trading card offerings.

Fanatics has challenged itself to have 15-20 states signed up by the start of the 2023 National Football League season as it looks to diversify its operations.

Chief Executive Michael Rubin has been quoted before saying he believes the Fanatics brand can be the biggest player in the industry within the next 10 years.

Speaking at the CAA World Congress of Sports, he said: “I think the betting business, we’re going to start launching in multiple states in January.

“We’ll be in every major state other than New York, where you can’t make money, by next football season.”

Though clearly ambitious and confident of the businesses success as it bids to become the biggest and best, Rubin did accept that it’s a process.

He said: “Things don’t happen overnight. So I think in five years that will be where we’ll be. And I think we’ll do it on a very calculated basis. We’re not in a rush to do everything at once, because if you do that you screw it up.”

In March Fanatics raised $1.5bn to help launch it as a betting brand while also investing in enhancing its NFT and digital collectible offerings. The company is now valued at $27bn.

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Written by David Kent

David has more than a decade of sports betting and sports writing experience working with some of the biggest names in the industry. He focuses on articles covering these subjects including how crypto is transforming sportsbooks.

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