You may hear a collective jubilant shout of joy if you're in or near Ohio or Tennessee today! That's because Fanatics is going live with its online sportsbook app in those states on May 1, 2023. This is outstanding news for sports bettors in the Buckeye and Volunteer states!
This will be the online debut of Fanatics, who has been operating an in-person sportsbook at FedEx Field in Maryland since January 20, 2023. Fanatics CEO Michael Rubin is setting the bar high for this sports betting app, as he expects it to compete with industry giants FanDuel and DraftKings.
Though this is exciting news, only current Fanatics customers in Ohio and Tennessee have been granted access to the sportsbook. Folks in those states will receive an access code via email at some point on Monday, May 1st. This will mark the official end of a beta-testing period in both states.
Thanks to @PositiveEVBet for sharing these screen shots of the Fanatics Sportsbook's beta test in Ohio.
— RLinnehanXL (@RLinnehanXl) April 24, 2023
You may be wondering what a beta test is. It's sort of a trial run that sportsbooks like to do before an official launch date. This gives the operators a chance to iron out any kinks before opening up the app to the masses. According to several accounts, the testing went remarkably well in both Ohio and Tennessee.
At the time of this writing, there has been no word as to when Fanatics Sportsbook will be open to all eligible customers in Ohio or Tennessee. Fanatics spokespersons have said that more information would be announced during the upcoming SBC Summit North America, which will be held from May 9th to May 11th.
Why is it such a big deal when a sportsbook goes live in a new state? Besides the potential for sports bettors to cash in on some incredible signup bonuses, having another set of lines to shop is a valuable commodity.
We talk all of the time about how consistently finding the best price on a bet can turn a losing season into a winning one. During football season, finding a -3 when others have -3.5 makes a remarkable difference in a bettor's longtime ROI. The same can also be said for finding a baseball team at -120 instead of -125 or -130.
It'll be interesting to see how much juice Fanatics will charge on standard bets, especially in Tennessee, where the taxes are a bigger burden on sportsbooks. Folks in the Volunteer State are hoping that Fanatics won't go in the way of some other sportsbooks and charge more juice to the customers.
Fanatics should be primed for a big splash in Ohio. The company has both a retail and online sports betting license to operate in the Buckeye State. They also have deals in place with the Columbus Blue Jackets and the Cleveland Guardians.
That's a fair question, but one that can't be answered at this time. Fanatics is valued at over $30 billion and definitely has the financial wherewithal to take some serious market share from some of the biggest names in the business.
Fanatics is also no stranger to the E-Commerce world, as they've been a major player in the online sportswear industry since 1995. These folks certainly know what it takes to succeed in any form of online business, even though they are new to the sports betting space.
It'll be interesting to see what kind of signup promotions Fantatics will offer going forward. Industry giants like DraftKings, FanDuel, Caesars, and BetMGM have leaned heavily on lucrative bonus offers to acquire new customers. However, Fanatics was able to convert quite a bit of customers during its beta testing phase in both Ohio and Tennessee. Stay tuned for more details!