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Fanatics Plans to Launch its US New Sports Betting Division in January, 2023

Summarized by: Live Sports Direct
 
Fanatics Plans to Launch its US New Sports Betting Division in January, 2023

Fanatics CEO Michael Rubin announced that the company will enter the US sportsbooks industry with the sports betting division early next year. The NFL playoffs would coincide with this launch. Fanatics can pair sportsbook offerings as well as team jerseys.

FanDuel and DraftKings used their daily fantasy sports to boost their sports betting in the US. Fanatics has a valuation of $20 billion and owns four dozen physical stores worldwide. It also provides land-base and online solutions for more than 50 professional and college programs with licensing agreements.

JMP Securities analyst Jordan Bender spoke at the Saratoga Racing and Gaming Conference this past August.

Fanatics CEO Rubin has portrayed the company’s offerings to differentiate itself from the existing US sportsbooks. He believes Fanatics will have the edge in lower customer acquisition costs than other sports betting venues.

Fanatics has a huge database of sports fans. There is a perception that assessing this database would lead to lower costs for acquiring sports betting customers. Fanatics’ US sportsbook will be partnered with the original sports fan's apparel division in the future.

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Michael Rubin
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