Fanatics Sportsbook is now live in New York. Its launch in the Empire State marks its sixth new state in the first quarter of 2024.
The company confirmed its entry into the New York sports betting market Thursday morning.
The Fanatics Sportsbook is now live in New York ?
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Fanatics Sportsbook is now live in 15 states, having just launched in Indiana two days ago.
This is the latest advancement of the Fanatics Sportsbook brand after it began acquiring the U.S. businesses of PointsBet in August 2023 to formally enter the U.S. legal sports betting industry. PointsBet customers using the online sportsbook in New York will have their username, password, account balance, rewards points and responsible gaming settings automatically migrated to the Fanatics Sportsbook.
New markets galore
It's been a busy year already for Fanatics Sportsbook.
It launched in two markets this week with New York and Indiana. It also went live in Michigan and Iowa earlier in February, as well as Pennsylvania and Vermont in January.
The Fanatics Sportsbook is also available online in Colorado, Connecticut, Kentucky, Maryland, Massachusetts, Ohio, Tennessee, Virginia, and West Virginia.
Key differentiators
Fanatics Sportsbook seeks to separate itself with cutting-edge design and a dynamic rewards program.
The app that powers the online sportsbook was built natively on iOS and Android, rivaling the sports betting apps in the market today that were not built specifically for iOS and Android.
The Fanatics Sportsbook is also the only sportsbook where customers can earn up to 5% of the total of their bet in FanCash, which can be used for bonus bets or at the Fanatics online retail store.
An Empire State Of Mind
The New York sports betting market is perhaps the most important state with legal sports betting. The total weekly handle for sportsbooks in New York has hit $400 million in 18 of the last 19 weeks.
The Empire State generated $19.1 billion in total sports betting handle in 2023, which topped the market nationwide. All three months of Q4 2023 eclipsed $2 billion in monthly handle, as well.
The Fanatics Sportsbook joins nine online sportsbooks in New York. The existing operators reached a record-high monthly revenue of $211 million in January after setting a new profit record of $188.3 million in December.
The Ohio sports betting market is the only other legal sports betting state in the U.S. to post a monthly revenue of $200 million, to put into perspective how prolific the action is for New York sportsbooks.
