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On Wednesday, Matt King, the CEO of Fanatics Betting and Gaming, took the stage as a keynote speaker at the SBC Summit North America.
In his presentation, he discussed his company’s venture into the Massachusetts sports betting market, but the primary focus was on how Fanatics intends to revolutionize the industry.
Massachusetts now offers live online sports betting, making it one of the initial markets for Fanatics Sportsbook. While primarily recognized as a sports apparel retailer and collectibles merchandiser, Fanatics is branching out into the world of sports betting.
Fanatics Betting and Gaming CEO promises innovation
As he inaugurated the second day of SBC Summit North America at the gaming conference in New Jersey, King stated, “There exists a tangible conflict between the need for speed and the drive to innovate. Our primary focus is not solely on acquiring market share, but rather on achieving accuracy and excellence, rather than mere swiftness.”
According to the Massachusetts Gaming Commission, Fanatics plans to introduce its sportsbook in Massachusetts within the coming week. Moreover, the company has announced its intention to expand its sportsbook to multiple states by 2025.
During his speech, King drew a comparison between Fanatics and Amazon, highlighting the fact that both brands cater to customers who seek an enhanced user experience. He further elaborated that Fanatics users desire sports betting services from the brand, while simultaneously expecting the app to mirror the exceptional performance of Fanatics’ online platform.
King emphasized that Fanatics is committed to revolutionizing the sportsbook user experience, striving to achieve the same level of excellence as other popular apps.
King suggested that Fanatics would aim to provide a sportsbook with an exceptional user experience, highlighting the significant disparity in satisfaction between sports betting apps and platforms like Netflix.
Furthermore, he emphasized that his company is well-positioned, as it is entering the industry at a time when the cost of doing business is significantly lower compared to previous years.
King stated that the cost of market access has decreased by 40-50% compared to its rate 3-5 years ago.
King, the former CEO of FanDuel, made the switch to Fanatics, indicating the company’s strong dedication to entering the realm of sports betting. Before his tenure at FanDuel, King had an extensive career at KKR Capstone, a prominent global investment firm, spanning over ten years.
Unique rewards from Fanatics Sportsbook
King predicts that in the future, the industry will place great emphasis on user experience and will feature a rewards program that revolves around sports experiences.
King said that we have the ability to make the customer feel valued.
Many sports bettors who have had negative customer support encounters on social media may find this sentiment appealing.
Taking that into consideration, King announced that his company will introduce an exclusive rewards payment system that is dependent on betting activity. Bettors will be granted FanCash by Fanatics in accordance with the value of their wagers.
- 1% for straight bets
- 3% for parlays
- Same Game Parlays come with a 5% commission.
You can use FanCash to buy Fanatics merchandise either online or at any of their physical stores.
In addition, King suggested that Fanatics could implement exclusive customer rewards programs, such as sending a signed jersey to a bettor who successfully wagered on a player. According to King, this initiative would be “an affordable measure for the company, while providing significant value to the user.”
In addition, when Fanatics Sportsbook MA is introduced in the state, it is expected to provide promotional offers for new users.
Fanatics Sportsbook in Massachusetts
By the commencement of the 2025-24 NFL season, Fanatics CEO Michael Rubin estimated that his company would potentially establish a sportsbook in approximately 12 to 15 states.
Fanatics is among the ten sports betting operators that have been granted a license in Massachusetts. The online sports betting platform was launched on March 10th. Currently, seven operators are active, and Betr is scheduled to officially launch in Massachusetts this week.
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