PointsBet customers in New Jersey will be automatically migrated to the Fanatics Sportsbook, beginning Wednesday, marking the end of PointsBet’s branded presence in the U.S. legal sports betting industry.
Fanatics Betting and Gaming’s (Fanatics) acquisition of PointsBet’s U.S. businesses is now complete.
Sports fans living in and visiting New Jersey will be able to download the Fanatics Sportsbook in iOS and Android. The New Jersey sports betting market also becomes the fourth state where Fanatics Casino is live. The newly designed Fanatics Casino will be embedded in the Fanatics Sportsbook app as part of the launch in New Jersey.
Continued expansion
Fanatics hasn’t been in the sportsbook business very long, but its online sports betting site is now available to roughly 95% of the addressable online sports bettor market in the U.S.
It entered the Illinois and Arizona sports betting markets in early April, and has expanded to 10 legal sports betting states already in 2024.
Sports betting in New Jersey is prolific and only growing. The Garden State is constantly in the top five in terms of statewide handle alongside its neighboring New York and other stalwarts like Nevada and Pennsylvania.
In March alone, New Jersey sportsbooks raked in $1.33 billion in wagers across the state’s online operators, casinos, and racetracks, a handle which ranked among the top five in New Jersey sports betting history. Operators have already hauled in $4.1 billion in total wagers and state coffers have bagged $42.3 million in taxes to start 2024 as well.
Competitive New Jersey sportsbooks
The Fanatics brand may be jumping into a big pond with a lot of huge fish, but its predecessor definitely ended on a high note.
Somewhat surprisingly, Pointsbet finished March with more revenue in New Jersey than DraftKings, beating the latter out by $2.5 million. FanDuel is the top dog in the state, while BetMGM, ESPN BET, and Caesars Sportsbook round out the top six.
iGaming is a huge opportunity in New Jersey. Online gaming churned $197.2 million in revenue during March, and has brought in $562.8 million year-to-date. FanDuel and DraftKings combined to generate 42% of the total revenue from 30 online operators, so Fanatics definitely knows what the top of the mountain looks like in both sportsbook and online casino.
