Fanatics is rapidly gaining momentum in the US online sports betting market, growing from less than 0.5% market share in November 2023 to 4.8% by October 2024, according to Eilers & Krejcik Gaming (EKG).

This growth follows Fanatics' $225 million acquisition of PointsBet US in 2023, marking the apparel giant's entry into North American sports wagering. The company now operates in 22 states and Washington, DC, with Missouri expected to join in 2024.

Key factors driving Fanatics' success include:

• Improved technology with their app ranking third in EKG's 2H24 testing report
• Strategic focus on VIP customer acquisition and retention
• Enhanced promotional offerings and SGP availability
• Effective promotional spending, reaching 100% of GGR in October
• Strong performance in key markets like New York, despite its 51% tax rate

While FanDuel and DraftKings still dominate the US online sports betting market, Fanatics, alongside bet365, has emerged as one of the few challenger brands capable of disrupting the current duopoly. The company's success in New York, where it ranks fifth in market share, particularly demonstrates its growing competitive strength.

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