Fanatics to launch mobile sportsbook in Tennessee and Ohio


Fanatics will launch the app in two states  Ohio and Tennessee a company spokesman told Sports Handle. The news was first reported by the Wall Street Journal on Thursday, hours before the opening round of the NFL Draft.

The company will “connect gamblers to its rewards program for deals on merchandise, signed collectibles and access to athletes and games.” Expanding into sports betting will “test” CEO Michael Rubin’s vision for a “digital platform spanning businesses across sports, including sports-team gear, autographed memorabilia and trading cards.” Fanatics said that it “plans to invest” $1B in its new sports-betting division. Initially, only Fanatics customers “will have access to its gambling app.” It intends to “add sports betting in Massachusetts and Maryland by June” and be “operating in 12 states by football season.”

Fanatics also said that international plans are “under way.” Rubin said that he expects the betting division to “be profitable by 2025 or 2026.” Fanatics’ betting and gaming unit is led by former FanDuel CEO Matt King, who was in the role during its “early years of fierce competition for market share”