Fanatics announced Wednesday that it has fully launched in Maryland and three other states following months of beta testing.
It became the 10th online sportsbook in Maryland to launch on June 1, doing so in beta mode. Fanatics operated that way here for its first 2 1/2 months, but is now fully available for Maryland sports bettors.
Ohio, Tennessee and Massachusetts are the other states where Fanatics is live.
Fully operational Fanatics app promises to be ‘most rewarding sportsbook’
While the beta period in Maryland was relatively short-lived and came exclusively during the summer months, it had long been in the process elsewhere.
During the six months it was being tested, Fanatics was working to fine-tune its app for the full launch. This, of course, gave Fanatics the ability to earn revenue while developing its software.
“After 6 months of beta testing, we are excited to officially launch the Fanatics Sportsbook product to the public,” Scot McClintic, Chief Product Officer, Fanatics Betting and Gaming said in a release. “We are laser focused on solving pain points facing customers by offering a faster, easier, and a more rewarding sports betting experience. The strategic patience to build a product for the long-term has given us an opportunity to redefine a customer’s expectation of what a sportsbook should be. With the Fanatics Sportsbook product foundation built and wholly owned, customers should expect unparalleled speed of feature improvement, delivery, and innovation.”
Coming out of testing, Fanatics claims to be the “most rewarding sportsbook.” Its FanCash is the backbone of its rewards program, which is integrated with its memorabilia arm. FanCash can be earned by placing bets, with a 5-3-1 system: earn 5% FanCash on same game parlays, 3% FanCash on parlays and 1% FanCash on straight bets.
FanCash can then be turned into bonus bets or for purchases at the Fanatics online store.
Among other perks, Fanatics is also debuting a withdrawal tracker, which allows you to see where your money is in the withdrawal process.
Fanatics was competitive during testing, can it be a major player in Maryland?
In its first two months of operation, plus a single day of a control demonstration for the MLGCC, Fanatics Maryland handled $3.5 million in bets. Its nearly $1.9 million in handle in July was seventh among Maryland sportsbooks.
That’s a respectable mark for a sportsbook that isn’t fully launched, and with the takeover of PointsBet’s US assets imminent, Fanatics figures to gobble up more of the market heading into football season.
How much, however, remains to be seen.
FanDuel and DraftKings combine to control 80% of the online sports betting market share in Maryland. Fanatics has not been shy about claiming it wants to compete with the big boys. While cracking that top two seems far fetched, there is room to sneak toward the top of that second tier.
BetMGM Maryland has about 9% of the market share, while Caesars is fourth at 4.5%. That leaves room for an outside sportsbook with a big marketing budget to move up. With current No. 5 Barstool on its way out to make room for ESPN Bet, that could make things even easier. At least until the Worldwide Leader arrives, likely in November.