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Maryland Approves BetFanatics for Sports Betting

Maryland Approves BetFanatics for Sports Betting
Mike Noblin
Written by Mike Noblin
January 19, 2023

Sports fans at FedExField will soon be able to cheer their home team and place bets on the game, as Fanatics Sportsbook is set to become the first sports betting facility within an NFL stadium. The book's physical location near Gate H grants exclusive access for those looking for a more immersive experience of football games this season. Its prime position inside one of America’s most iconic venues promises exciting action both off and on the field!

Sports betting fans can get in on the action seven days a week with Fanatics' first-ever retail sportsbook. Opening daily from 10 am to midnight, this one-of-a-kind facility will feature an impressive wall of video screens broadcasting live sporting events worldwide and offer bar service, including food and beverages - alcoholic options included!

Under CEO Micael Rubin’s direction, Fanatics has built an impressive empire with big plans for 2023 and beyond, one of those ambitious projects being BetFanatics: their very own online sportsbook offering. With years of expertise backing them up like no other player on the field, there is undoubtedly more to look forward to from this fanatical powerhouse leader in 2023 and the coming days ahead.

Differences Between BetFanatics App & Its Retail Sportsbook

Fanatics Sportsbook retail offers different features than its online counterpart, BetFanatics. For those looking for more personal interaction, staff members are present to assist customers with placing their bets and offer advice on upcoming games. Another enticing feature includes a free-to-play game of pick ‘em contests, giving guests a chance at winning prizes while also getting familiar with the sportsbook’s technology before placing a real bet.

BetFanatics, a mobile-first sportsbook, offers competitive betting lines for customers and exclusive content. Users will also take advantage of boosted odds, real-time personalization, and instancash-outut availability.

With all these features available, it’s now easier to find the best possible betting opportunities. The BetFanatics app is not yet live, but Fanatics has indicated it will be live ahead of the NFL playoffs — Maryland sports bettors could be among the first users of the highly anticipated app!

Fanatics Already Has a Robust Customer Base

Fanatics Sportsbook is rising to the top before it even launches thanks to its existing 94 million customer database, removing any need for costly acquisition campaigns. Furthermore, with a former executive of both NBA's Philadelphia 76ers and NHL's New Jersey Devils at their helm and Matt King - CEO extraordinaire who was previously leading FanDuel- in charge of the sports betting division, they have all ingredients necessary for an impressive launch in January!

Sports wagering and online gambling in Maryland have come a long way since its introduction to the state in 2008. Initially, just a handful of racetracks and casinos offered the option, but the industry has grown exponentially over the years.

Now you can bet on popular sports like football and basketball through mobile apps while never leaving your couch! That's hard to beat!

Online Sports Betting Enjoys Fast Start in Maryland

Maryland marked a record-breaking start to the New Year after becoming only the second state in 2022 to launch mobile sports betting. It was an exciting start, as more than $400 million was won by mobile bettors, and the overall hold remained strong at 17.1%.

All sportsbooks were given a free pass on promotional play deductions for their first year of operations; however, from year two onward, the caps are in effect - winnings can only be deducted up to 20% of last year's taxable amount.

In December, Maryland’s nine retail and seven online sportsbooks took over $478 million worth of wagers, an incredible result that generated nearly half a million dollars for the State's coffers. This milestone event looks set to be another lucrative move from both sides as this exciting industry continues its journey into 2023.

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