Following a strategic business move, sportsbook enthusiasts in Virginia have witnessed the seamless transition of PointsBet accounts to the blossoming platform of Fanatics Sportsbook. Virginia natives who previously placed their wagers through PointsBet will now find their betting experience spontaneously upgraded to Fanatics. This development was animated by the entry of Fanatics Sportsbook into the state, marking a significant step in their business expansion.
The migration process is designed to be exceptionally user-friendly. Existing PointsBet users are able to log into their newly-minted Fanatics accounts with the same login credentials used on PointsBet. Moreover, this transition does not just include their usernames and passwords, but also account balances, accumulated rewards points, and any customized responsible gaming settings.
For new customers with an appetite for betting in the Old Dominion State, Fanatics Sportsbook has also made their app available, paving the way for a broader clientele to delve into sports betting.
Fanatics’ triumph in Virginia is not an isolated event. In fact, it crowns the successful acquisition and subsequent migrations of PointsBet US across an impressive roster of seven states. Aside from Virginia, Fanatics’ presence now spans across Kentucky, Maryland, Massachusetts, Ohio, Tennessee, and West Virginia. Virginia’s launch occurred in swift succession to Fanatics opening shop in West Virginia, which took place less than a week earlier. That launch was noteworthy for also kickstarting a trial run of Fanatics’ new online casino embedded within the sportsbook app. The casino boasts an array of slot games, as well as timeless table games like roulette and blackjack.
Turning back the pages, Fanatics negotiated a deal in June to purchase the US operations of PointsBet for a considerable sum of $225.0 million. This figure surpassed the initially agreed price of $150.0 million in May, following a competitive bid from DraftKings valued at $195.0 million. This rivalry ultimately catalyzed Fanatics upping its offer, leading DraftKings to retract from the bidding.
Shareholders of PointsBet greenlit the increased proposal in June, thereby clearing the path for the transaction to go forward. Subsequent to this shareholder consent, Fanatics commenced its process of integrating PointsBet operations in the US into its portfolio, rebranding these sportsbooks under the Fanatics banner.
This integration process became official in September when Fanatics received approval to acquire PointsBet US in eight states, encompassing New Jersey, Pennsylvania, Colorado, Iowa, Kansas, Maryland, Virginia, and West Virginia. Just a short month later, the acquisition extended its reach to include PointsBet operations in New York and Wyoming.
However, the transition is yet to be finalized in a handful of states, with PointsBet still operating independently in Illinois, Indiana, Louisiana, Michigan, and Ohio until Fanatics finalizes operations in these regions.
In line with its wider sportsbook mission, Fanatics has partnered with Paysafe, aiming to deliver a comprehensive payment solution to its users in five states — Kentucky, Maryland, Massachusetts, Ohio and Tennessee. Players across these states now have the luxury of depositing and withdrawing funds through convenient methods such as debit cards, alternative payment methods, and Paysafecash.
Amidst these ambitious business maneuvers, Fanatics stands alongside three major American sports leagues — the NBA, NHL, and MLB — united in a responsible gambling campaign. With an innovative advertisement dubbed ‘Never Know What’s Next’, the campaign focuses on the unpredictability of sports. The commercial debuted during an NBA match and is supported by not only Fanatics but other recognized operators, directing viewers to resources promoting responsible gaming.
As Fanatics Sportsbook solidifies its presence in Virginia, it stands as a testament to the dynamic landscape of the sports betting industry, where each corporate play has the potential to reshape the betting experience for aficionados across the nation.
