Fanatics Launches in Four States
Fanatics Launches in Four States
Plus: Seminole's pause, new potential in-game markets and BetMGM's UK move.
Welcome to your weekly roundup! Fanatics launches in four states, more ESPN Bet hot takes, and new possible in-game markets. Have fun ramping up for your fantasy football drafts. As always: if you liked reading this, please subscribe or share it with a friend. Have a great weekend!
Market Movers
Fanatics is live: The long-awaited Fanatics Sportsbook app launched in four states this week—Maryland, Massachusetts, Ohio and Tennessee—and then the company launched a retail desk at Cleveland Guardian’s Progressive Field on Friday. Fanatics had been beta testing the app for several months. The company has a loyalty program, FanCash, which enables consumers to make more wagers or buy merchandise.
Fanatics also recently acquired PointsBet’s US operation for $225 million, which will allow it to launch in more states. The company also offers a retail sportsbook at the Washington Commanders’ FedExField in Maryland. The launch will give Fanatics a three-month jump on ESPN Bet, which is expected to launch in November.
Not so fast: The Seminole Tribe’s new Florida sports betting venture with Hard Rock Bet may not be able to relaunch in time for the NFL season after a DC District Court of Appeals request for a response in the case that could enable the launch.
New markets?: Expanded Sportradar in-game betting markets could be coming this season - as a result of Sportradar’s recent extensions with Caesars and FanDuel, which include access to NBA optical tracking data from Sony’s Hawk-Eye. This could result in new in-game markets, for example, such as Stephen Curry 30-foot-three-pointers.
What we’re reading
US overall gross gaming revenue in Q2 2023 rose 8.3% year-over-year to $16.2 billion, with sports betting GGR up 58.5% YOY to $2.3 billion, according to the American Gaming Association.
How new season transfers affect traders who are setting Premier League odds.
The market between publishers and sports gaming companies in in a “correction” after “endless” customer acquisition budget has dried up, according to Digiday.
MGM Resorts launched its first BetMGM branded operation in the U.K. with its LeoVegas technology, which MGM acquired last year for $604 million. Kambi is powering the sportbook. Entain, which is a 50-50 partner in the US with BetMGM, is not involved in the BetMGM UK venture.
How Live Solutions plans to use AI presenters in live casinos.
Overheard
“There’s something that feels shabby about this. There is the association that PENN had with Barstool, and what’s literally going to happen, it’s called reskinning — it’s basically like getting a new case for your phone. They’re just, like, changing the Barstool label to ESPN.” —Josh Levin, host of Hang Up and Listen, on the ESPN Bet-Penn Entertainment deal.
Data Point
29.2%
The all-time high monthly hold number for parlays in New Jersey set in July.
BetCrunch is sponsored by InPlay Innovation:
InPlay Innovation is the leader in AI-powered sports betting. Fully automated micro-markets, odds origination, and risk management.
Thanks for reading!