Indiana marks the 14th state for the Fanatics Sportsbook.
Fanatics’ formal entry into Indiana sports betting follows its launches in Michigan and Iowa earlier this month.
The company confirmed its launch in the Hoosier State on Tuesday.
The Fanatics Sportsbook is now live in Indiana ???
— Fanatics Sportsbook | PB (@fanaticsbook_pb) February 27, 2024
Sign Up: https://t.co/R4wXHh0Lw3 pic.twitter.com/A60C4y1WA8
Fanatics' sportsbook app gives customers up to 5% of their wagers back in FanCash which can be used for bonus bets or at the Fanatics online retail store.
Fanatics began acquiring the U.S. businesses of PointsBet in August 2023, and as of today, all PointsBet customers in Indiana will have their username, password, account balance, rewards points, and responsible gaming settings automatically migrated to the Fanatics Sportsbook.
A busy 2024 for Fanatics
Its launch into Indiana sports betting marks its fifth new state in the first quarter of 2024. In addition to launches in Michigan and Iowa in February, the Fanatics Sportsbook also went live in Pennsylvania and Vermont in January.
The Fanatics Sportsbook is also available online in Colorado, Connecticut, Iowa, Kentucky, Maryland, Massachusetts, Ohio, Tennessee, Virginia, and West Virginia.
The company has been mired in some legal troubles recently, though. DraftKings sued former senior executive Michael Hermalyn alleging he hatched a “scheme” to steal from his previous employer just days before becoming the president of VIP at Fanatics Sportsbook. A federal judge ruled in favor of DraftKings in early February, and although Hermalyn is still permitted to work for Fanatics, he is barred from using any information from his time at DraftKings or soliciting DraftKings’ clients or employees.
Growth in Indiana sports betting
Sportsbooks in Indiana reported a 12.5% year-over-year increase in their handle in January and revenue grew 46.7%. With Fanatics entering the Indiana sports betting landscape, the state now features 14 online sports betting sites.
bet365 expanded its reach into Indiana not even 30 days ago.
Fanatics Sportsbook will face an uphill battle vying for growth within a market that features DraftKings and FanDuel as the top online sportsbooks in Indiana, with BetMGM, Caesars Sportsbook, and ESPN Bet rounding out the top five.
BetRivers, which along with DraftKings became the first online sportsbook in Indiana when the market went live in October 2019, will be a likely competitor along with bet365 for the state’s newest entry.
