Fanatics Sportsbook has officially launched in Colorado. It’s another step closer to the sports apparel company reaching CEO Michael Rubin’s goal of being operational in 15 to 20 sports betting markets by the end of 2023.
Fanatics purchased PointsBet’s US business last summer with the aim of using its sports betting licenses to gain an immediate foothold in the industry. In Colorado now, Fanatics not only has access to the state’s lucrative sports wagering market, it also gains partnerships with two professional sports teams.
Fanatics claims it has the best mobile experience in the sports betting industry. Competition, however, will be fierce in The Centennial State.
Fanatics claims sportsbook app will be superior because of personalization
The Colorado online sports betting market is well established, but Fanatics says it has some unique features to draw customers.
The sportsbook says its mobile app will be superior to others in Colorado because it is specifically built for either iOS or Android. The app can be personalized by the user in a multiple of ways.
There is also a Discover page at Fanatics Sportsbook Colorado, which will be curated to each user individually. The Discover page will have “marquee games, trending bets, promos and the rewards you want most” as outlined by Fanatics. There will also be a new live-streaming service called BetVision. Fanatics claims it will be a first-of-its-kind feature allowing users to place bets while live-streaming certain pro football games.
Previous users of PointsBet in Colorado are being encouraged to download the Fanatics app. Login information from the former PointsBet app has been migrated. They simply type in their login information to access their new Fanatics account.
Colorado the third state to launch Fanatics Sportsbook in last month
Colorado is the third state where Fanatics has launched in the past month, along with West Virginia and Virginia. That brings the grand total of states where Fanatics Sportsbook is operating up to eight.
- Colorado
- Kentucky
- Maryland
- Massachusetts
- Ohio
- Tennessee
- Virginia
- West Virginia
Fanatics Sportsbook is expected to eventually gain access to another nine states.
- Illinois
- Indiana
- Iowa
- Kansas
- Louisiana
- Michigan
- New Jersey
- New York
- Pennsylvania
The list of states above is solely related to its purchase of PointsBet. Fanatics could also gain access to additional states on its own, such as Connecticut, where it is expected to launch in mid-December.
Its access to all of the states where PointsBet was active is being delayed by the payment schedule of the purchase. Fanatics paid $175 million in August and will pay the final $50 million at the start of 2024. Once the purchase is finalized and completed, full access should be granted to Fanatics to the final nine markets.
PointsBet’s partnerships with the Nuggets and Avalanche will transfer to Fanatics
Fanatics is gaining more than just access to the Colorado sports betting market. It is also gaining partnerships with two beloved and contending local professional sports teams in the Denver Nuggets and Colorado Avalanche.
The Nuggets and Avalanche are both owned by Kroenke Sports and Entertainment, which also owns its own broadcast rights and radio station. Having that type of infrastructure built in makes a partnership with the teams extremely advantageous for Fanatics.
Having that marketing power will give it leverage most new players lack. In a sports betting market that’s mature and established, visibility through these partnerships could make a big difference.
It could give Fanatics a leg up on the other new kid on the sports betting block: ESPN Bet.
Recently launched ESPN Bet also seeks its slice of the Colorado market
On Nov. 14, ESPN Bet officially launched in Colorado. PENN Entertainment partnered with ESPN to rebrand Barstool Sportsbook into ESPN Bet. Both companies are banking on the massive brand name of ESPN to give the new sportsbook a leg up in sports betting markets across the country, including in Colorado.
Like former PointsBet users, past Barstool users can use their same log-in with the ESPN Bet mobile app.
The ESPN Bet mobile app will feature the ESPN brand in many ways, Penn CEO Jay Snowden said.
“ESPN will be implementing an initial wave of exclusive integrations targeting their 200 million loyal fans across their linear and digital platforms.”
There will be upcoming advertising campaigns that will feature SportsCenter anchors Scott Van Pelt and Elle Duncan as well as future integrations between ESPN’s media and sportsbook.
