Fanatics, the renowned sports apparel, and merchandising giant, has successfully transitioned into the digital gambling sector in New Jersey. The company’s branded online sportsbook and casino are now live in the Garden State, marking the official entry of Fanatics into the NJ online casino and sports betting industries.
Launch of Fanatics Sportsbook and Casino in New Jersey
Following months of operations under the name “Fanatics, A PointsBet Experience,” Fanatics Sportsbook NJ is now available as of Wednesday, according to a company press release. In addition to the sportsbook, the Fanatics Online Casino will be available as an embedded option within the app, which can be downloaded on both iOS and Android devices.
Fanatics operates its online sportsbook using the sports wagering license of Meadowlands Racetrack in East Rutherford. Meanwhile, the Fanatics Online Casino NJ leverages Bally’s Atlantic City’s gaming license.
New Jersey PointsBet customers will have their usernames, passwords, account balances, rewards points, and responsible gaming settings automatically migrated to the Fanatics Sportsbook. The press release also noted that New Jersey is the final state to complete the PointsBet acquisition, making it the 20th state to feature Fanatics Sportsbook and the fourth state with Fanatics Online Casino.
Fanatics shows growth despite late entry
Despite being a relatively late entrant into the online gambling arena, Fanatics has demonstrated growth. In the first quarter of 2024, Fanatics (operating as Fanatics, A PointsBet Experience) generated $55.6 million from sports betting and $3.2 million from internet gambling.
Background on Fanatics: following the path of DraftKings and FanDuel
Fanatics Betting & Gaming, the gambling division of Fanatics Holdings Inc., was established in 2021. In 2023, Fanatics purchased PointsBet’s US online gambling assets for $225 million, gaining near-instant market access to lucrative jurisdictions such as New Jersey and New York.
The PointsBet platform began adopting the Fanatics name in fall 2023, rebranding as “Fanatics, A PointsBet Experience.” While Fanatics remains closely associated with sports, company executives have reiterated that online casino gambling will be a significant part of their long-term strategy, similar to FanDuel and DraftKings.
Fanatics positioned as a market disruptor
Many consider Fanatics a “dark horse” poised to disrupt the current market hierarchy. With substantial financial resources and an extensive database of sports fans, the company holds a distinct advantage in the competitive online gambling industry.
