There will soon be another online sports betting operator entering the Massachusetts market.
The Massachusetts Gaming Commission voted unanimously Tuesday to approve a certificate of operations for Fanatics Sportsbook. Fanatics told the MGC it expects to launch in Massachusetts “in late May,” said Bruce Band, the Director of Sports Wagering for the MGC.
Fanatics will be the eighth online sportsbook to enter the Massachusetts sports betting market.
Fanatics gets green light in Massachusetts
The approval came at the request of FBG Enterprises Opco, LLC, the holding company that will operate (do business as) Fanatics Sportsbook in Massachusetts. This will be a Category 3 sports betting operations license.
Earlier this week, Fanatics purchased PointsBet Holdings Limited, which would give it ownership of most of that company’s US sports betting interests. It’s unclear whether Fanatics will assume operations in place of PointsBet in the 14 states that latter company is licensed.
Recent comments from Matt King, Fanatics Betting and Gaming CEO, indicated the brand wants to be deliberate about entering the sports betting market, with a goal of being innovators in Massachusetts.
New endeavor for popular retailer
Fanatics has established itself as a leader in licensed sports apparel and collectibles.
With its expansive presence as a sports apparel retailer, Fanatics could become a challenger to the market share leaders in the industry in North America, which includes DraftKings and FanDuel.
The state launched online sports betting on March 10, with six sports betting operators live on day one. Last week, Betr became the seventh to launch in MA.
Fanatics is primed to enter a Massachusetts sports betting market that is already delivering big numbers. In April, $546.2 million was wagered online in Massachusetts. That generated $58.5 million in taxable gaming revenue, and MA collected $11.8 million in sportsbook taxes.
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