Fanatics’ acquisition of PointsBet continues to pay off

Article by : Charles Perrin Aug 20, 2024

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Fanatics has continued to blaze a trail on the US sports betting scene by making its debut in Louisiana.

Having completed a $225 million acquisition of PointsBet back in April, Fanatics has a firm stronghold of all things sports-betting related in the States, and it has underlined its influence by now going live in the Pelican State.

Through a partnership with Boomtown Casino & Hotel, those visiting Louisiana will be entitled to the full Fanatics treatment when they place bets, and that includes being able to use the bespoke iOS and Android mobile app.

The app comes replete with several rewards, including FanCash, where bettors can get back up to 10% on wagers, regardless of whether they win or lose, as well as more extensive streaming.

Fanatics has seen the merits of sports betting in Louisiana, and it has joined a swathe of operators who have set up business in the state, including bet365, BetMGM, BetRivers, Caesar, DraftKings, and ESPN Bet.

Aside from Louisiana, Fanatics set up its online sportsbook and casino offerings in New Jersey, one of just a few states that provides both services.

Now, Fanatics is available in 22 states, covering roughly 95% of the addressable online sports betting market in the US.

As far as Louisiana is concerned, the sports betting market is expanding rapidly.

Having paved the way for legal online sports betting in January 2022, results taken from June 2024, showed Louisiana is growing at a rate of roughly 37% compared to 2023, taking in around $3 billion in bets year-to-date.

The Louisiana Gaming Control Board which presides over all betting activities in the state took in $195.8 million handle in June, yielding net proceeds of $24.8 million.

Fanatics have certainly left their mark, and by the sounds of things, they are far from finished.