The landscape of sports betting in Indiana has experienced a significant shift with the recent launch of the Fanatics Sportsbook, a platform poised to take over the reins from the erstwhile PointsBet brand. In a seamless transition, former clients of PointsBet in Indiana will find their personal credentials such as usernames and passwords, along with their account balances, loyalty points, and pre-established responsible gaming settings, transferred to their new home on the Fanatics platform.
This strategic maneuver is part of a broader initiative by Fanatics Betting & Gaming (FBG) following its August 2023 acquisition of PointsBet’s US operations. Indiana marks the 14th state to witness the rollout of Fanatics Sportsbook, showcasing FBG’s commitment to expanding its footprint in the nation’s rapidly evolving sports betting sector. Fanatics has already established a robust online presence in several other states, including Colorado, Connecticut, Iowa, Kentucky, Maryland, Massachusetts, Michigan, Ohio, Tennessee, Vermont, Virginia, and West Virginia. Beyond its online offerings, the company continues to operate PointsBet retail betting venues in Pennsylvania and West Virginia.
Building on this momentum, FBG has also introduced the Fanatics Casino in Michigan, marking the third instance of such a launch following successful ventures in Pennsylvania and West Virginia. As Fanatics cements its presence in these states, Indiana emerges as new fertile ground, particularly in the wake of the state’s record-breaking adjusted gross revenue report for January, totaling $53.5 million. This remarkable figure surpasses the previous record of $50.6 million set in December and is a testament to the vibrant betting activity within the state, where the January handle reached $480.3m, albeit a slight 4.5% decrease from the previous month’s $503.1m.
In an intriguing breakdown of Indiana’s betting preferences, a sizable chunk of the handle, amounting to $269.9m, was wagered on parlays. Notably, American football and basketball commanded the lion’s share of bets, drawing in $57.5m and $113.1m respectively. Fanatics Sportsbook enters a highly competitive landscape, where it must distinguish itself against market leaders like Ameristar Casino and DraftKings, which boasted a January handle of $181.4m and revenue of $18.7m.
As FBG phases out the PointsBet brand, it refrains from setting specific deadlines for completing this process, instead maintaining a focus on growth and strategic market captures. Among the potential new territories is North Carolina, where a market access deal with the Carolina Hurricanes of the NHL positions Fanatics for potential entry. The timing is particularly noteworthy as North Carolina braces for the launch of its sports betting market on March 11. Facing a January 26 deadline, FBG, alongside other hopeful operators, is working diligently to secure the necessary licenses from the North Carolina State Lottery Commission, which is currently collaborating with eight operators to ensure readiness for the market’s inauguration.
In the bigger picture, Fanatics Sportsbook’s expansion reflects the dynamic and ever-changing sports betting industry in the United States. With each successful launch and strategic partnership, FBG not only enhances its market share but also contributes to the growing acceptance and regulation of sports betting across the country. Indiana bettors, welcoming the Fanatics experience, have an exciting new chapter to look forward to as they engage in their beloved pastime of wagering on a diverse array of events and competitions. With a proven track record, robust platform, and customer-centric approach, Fanatics Sportsbook stands poised to become a leading name in Indiana’s sports betting saga.
