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Another online sports betting operator is about to join the Massachusetts market in the near future.
On Tuesday, the Massachusetts Gaming Commission came to a unanimous decision to grant a certificate of operations to Fanatics Sportsbook. According to Bruce Band, the Director of Sports Wagering for the MGC, Fanatics informed the commission that they anticipate launching in Massachusetts by the end of May.
Massachusetts sports betting market will welcome Fanatics as the eighth online sportsbook to join.
Fanatics gets green light in Massachusetts
FBG Enterprises Opco, LLC, the holding company that will operate under the name Fanatics Sportsbook in Massachusetts, received approval for a Category 3 sports betting operations license upon their request.
Fanatics acquired PointsBet Holdings Limited earlier this week, granting it majority ownership of the latter’s US sports betting ventures. The fate of PointsBet’s licensed operations in the 14 states remains uncertain, as it is unclear if Fanatics will take over these responsibilities.
Matt King, CEO of Fanatics Betting and Gaming, recently expressed the brand’s intention to enter the sports betting market in Massachusetts with a strategic approach, aiming to establish themselves as trailblazers in the industry.
New endeavor for popular retailer
Fanatics has solidified its position as a frontrunner in the realm of licensed sports apparel and collectibles.
Fanatics, being a prominent sports apparel retailer, has the potential to challenge the market share leaders in North America’s industry, namely DraftKings and FanDuel.
On March 10, the state initiated the introduction of online sports betting, witnessing the participation of six sports betting operators on the very first day. Betr joined the league last week, becoming the seventh operator to launch in MA.
Fanatics is prepared to make its entrance into the lucrative Massachusetts sports betting market, which has already seen impressive figures. In the month of April alone, a staggering $546.2 million was bet online in Massachusetts. This resulted in a substantial taxable gaming revenue of $58.5 million, with the state collecting $11.8 million in sportsbook taxes.
If you or someone you care about is facing issues related to gambling, reach out to a trained specialist for free assistance 24/7 by calling 1-800-327-5050 or visiting www.mahelpline.org/problemgambling.
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