Fanatics Casino Standalone iGaming App Launches in Four States
Fanatics Betting and Gaming, the sportsbook division of the sports merchandise and collectibles firm owned by billionaire Michael Rubin, is reinforcing its commitment to online gambling by launching its independent internet casino app.
Fanatics Casino debuted on Friday for iOS and Android in Michigan, New Jersey, Pennsylvania, and West Virginia, which are four out of the seven states where online slots and interactive table games are regulated. Fanatics is presently running its online sportsbook in those regions.
To encourage the company's entry into iGaming, customers at Fanatics Casino can participate in a sweepstakes for a chance to win a portion of $2 million in FanCash, which can be utilized for bonus bets and in-store purchases. Every week until June, a fortunate winner will get $25K in FanCash. To participate in the weekly sweeps, customers of Fanatics Casino need to place a minimum bet of $10 on any casino game.
Fanatics Casino is launching through apps initially, but the online versions of the gaming platform will go live next week, starting with New Jersey on Monday. The launch of the Fanatics Casino will likely be extensively advertised at next month’s Fanatics Fest at the Javits Center in New York City.
Clients to Betters
Fanatics has poured hundreds of millions into its gaming activities, which began after the company bought PointsBet US in 2023 for $225 million. The PointsBet agreement offered a swift way for Fanatics Sportsbook to penetrate numerous online sports betting markets.
Fanatics' share of the online sportsbook market has increased from under 0.5% in November 2023 to over 5% by the end of 2024. Fanatics has successfully transformed numerous customers of its merchandise and collectibles into sports gamblers. It now aims to achieve the same with iGaming, a challenging endeavor given that DraftKings and FanDuel lead the iGaming market.
Fanatics has engaged multiple top iGaming developers for its online slot machines and table games, such as Light & Wonder, IGT PlayDigital, Evolution, and White Hat Studios.
Evolution will offer live dealers for table games on the Fanatics Casino application and website. Live dealers can be found for blackjack, roulette, and baccarat.
iGaming is a Major Industry
In contrast to sports betting, a sector with minimal profit margins, iGaming provides operators with stronger and more dependable gaming income. Although monthly sports betting revenue can be erratic depending on the results of games and events, online casino operators are more assured that the odds work in their favor.
Licensed iGaming operators in the seven regulated states — with Connecticut, Delaware, and Rhode Island among them — produced a gross gaming revenue of $8.41 billion last year. Sports wagering, permitted in 39 states and Washington, DC, produced a GGR of $13.71 billion.
iGaming's promise, shown by earning over half of what oddsmakers achieved despite being available in under a quarter of the states, and its seven legal markets being among the least populated (West Virginia — 40th, Rhode Island — 45th, Delaware — 46th), is likely the reason Fanatics is putting money into online casinos.
The expansion of iGaming is still surpassing that of sports betting. In 2024, iGaming GGR rose by 29% compared to the previous year, whereas sports gambling revenue grew by 24%.
