PointsBet to Expand Sports Betting Platform in the U.S.

September 5, 2023

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There will be no more waiting for the new owners of the PointsBet Sportsbook Platform. Earlier this summer, the digital arm of Fanatics (Fanatics Betting and Gaming) purchased the U.S. assets of the Australian-based PointsBet. They did so with a purpose that has already come to light. The purchase price for all U.S. assets was $225 million, which could prove to be a bargain as the expansion takes hold.

From the beginning, management at Fanatics has been driving to make PointsBet a more recognizable sports betting brand throughout the U.S. online sports betting community. Already positioned in six (6) states, the expansion is already underway. Ownership has recently announced that PointsBet will offer its online sports betting services in eight (8) more states, pending final licensing approval in each state. The company will be permitted to continue operating under the old brand in Indiana, Illinois, Louisiana, Michigan, New York, and Ohio.

In a press release picked up by PlayUSA, Fanatics CEO (Fanatics Betting and Gaming) Matt King discussed the direction of the company. He stated the company was:

“Excited about what we are building at Fanatics Betting and Gaming and this acquisition accelerates our plans. We have a 10-year plan that focuses on the customer and not market share." He added, "We are going to acquire customers efficiently, allowing us to return savings to customers by investing in the customer experience at Fanatics Sportsbook and PointsBet, a Fanatics Experience.”

He also stated that the sports betting operator would be rebranded to "PointsBet - A Fanatics Experience." It's a catchy name that clearly ties the online gambling platform to the Fanatics sports merchandise empire.

Where the Brand Will Be Appearing

As stated above, Fanatics is awaiting licensing approval under the new brand name in eight (8) states. The company hopes the approvals will be completed by the start of the NFL regular season on September 7, 2023. The eight states include:

• Colorado
  
• Iowa
  
• Kansas
  
• Maryland
  
• New Jersey
  
• Pennsylvania
  
• Virginia
  
• West Virginia
  

Fanatics management also stated they are pursuing regulatory approval in Indiana and Illinois for the rebranded platform, approval they hope to secure later this year.

PointsBet Online Casino and Rewards Program Rebranded as Well

Currently, PointsBet's online casino platform is available in four states. Under new ownership, there will be a push to enter more states when the opportunity arises. It's worth noting that only seven (7) states have legalized online casino gambling to date. Rebranding is underway for the casino platform as well.

Under the new brand, the PointsBet rewards program will be getting a facelift. As customers accumulate rewards points, they will earn the right to request cash back or purchase merchandise from the Fanatics online store. Points will be awarded as follows:

• Same Game Parlay - 5% back
  
• Regular Parlays and Futures Odds Bets - 3% back
  
• Straight Bets - 1% back
  
• Slots Play - .5% back
  
• Table Game Play - .13% back
  

More information related to these rebranding efforts should be available in the coming weeks.