Sports enthusiasts in Colorado have ushered in a new era for sports betting as Fanatics Sportsbook officially opens its virtual doors in the state. The eagerly awaited platform is now available for download, and bettors can place their stakes on a plethora of sports and events. The move marks a significant milestone for Fanatics Betting and Gaming (FBG), as Colorado becomes the eighth jurisdiction in the United States where the company has planted its flag.
A seamless transition awaits existing PointsBet users in Colorado, who can access the Fanatics Sportsbook with their current login details. All live wagers, account balances, and responsible gambling preferences will be transferred to the new service without any hassle. This strategic migration follows previous launches in seven other states including Kentucky, Maryland, Massachusetts, Ohio, Tennessee, West Virginia, and Virginia, with the latter two having rolled out just the month before.
Back in June, FBG reached an agreement to take over PointsBet’s U.S. operations in a staggering $225 million deal. This increased bid came in response to a competitive bid from rival DraftKings, who had tabled a $195 million proposal. FBG’s enhanced bid eventually led DraftKings to bow out of the race. The shareholders of PointsBet nodded in favor of FBG’s lucrative offer in the same month, thereby paving the way for a gradual transition of operations from PointsBet to the Fanatics platform across the United States.
The acquisition process advanced significantly in September, with Fanatics obtaining authorization to acquire PointsBet’s business in eight states, including New Jersey, Pennsylvania, Colorado, Iowa, Kansas, Maryland, Virginia, and West Virginia. Furthermore, just a month later in October, Fanatics completed its takeover of PointsBet’s operations in New York and Wyoming.
Despite these advancements, the takeover is not yet finalized in several other states—specifically, Illinois, Indiana, Louisiana, Michigan, and Ohio—where PointsBet is operational. In these states, PointsBet will maintain its operations until FBG wraps up its acquisition efforts.
FBG has consistently maintained that the remaining acquisitions in U.S. markets are progressing as planned. However, the company has abstained from providing a definitive timeline for the completion of these acquisitions and the corresponding launches.
In a related development, the past week witnessed a significant partnership announcement; FBG has become the new sports betting partner of the Connecticut Lottery Corporation. In an exclusive collaboration with the Connecticut Lottery, Fanatics Sportsbook will oversee both mobile and retail betting, with the transition anticipated to occur by mid-December.
The partnership extends to 10 retail betting establishments across Connecticut, as well as service provision through the mobile sportsbook. This move signifies Fanatics Sportsbook’s growing presence in the U.S. sports betting landscape, with Connecticut players soon able to enjoy the high-quality, user-friendly betting experience that Fanatics promises.
The foray into Colorado solidifies Fanatics’ strategic endeavors to enhance its footprint in the U.S. sports betting sector. As the industry continues to evolve, local bettors can expect a heightened level of service and convenience, aligned with the transformative trends in digital sports betting and gaming. With a network of states under its belt, Fanatics Sportsbook is on a steadfast quest to redefine sports betting across America.
