Fanatics Sportsbook has officially launched in Virginia. On Nov. 21, its app became available in the commonwealth on both iOS and Android.
Fanatics gained access to the Virginia market when it purchased PointsBet’s US business last summer.
It promises massive rewards for players as it comes online in a seventh state.
Virginia among first states to have access to Fanatics Sportsbook
Fanatics Sportsbook joins a highly competitive market that includes more than a dozen Virginia online sports betting operators. Players bet over a half billion dollars on sports in September in the commonwealth, which was a 26% year-over-year increase.
Fanatics Betting and Gaming, which is a subsidiary of Fanatics Holdings Inc., will now have its chance to build a popular mobile sportsbook in the Virginia sports betting market.
The process of bringing Fanatics to Virginia began when the company bought all of PointsBet’s US business for $225 million in August. Including Virginia, Fanatics Sportsbook has launched in seven states so far.
- West Virginia
Fanatics Sportsbook plans to eventually launch in another 10 states.
- New Jersey
- New York
Fanatics CEO Michael Rubin said he wants to have Fanatics Sportsbook operational in 15-20 states by the end of 2023. It depends on when the PointsBet purchase is finalized.
The original plan was for Fanatics to pay $175 million in August and the final $50 million near the start of 2024. The first installment gave Fanatics access to eight states, which included Virginia. Once the sale is finalized in 2024, all licenses for the remaining states should be fully transferred over.
Former PointsBet users can use same login credentials with Fanatics
With Fanatics taking over PointsBet, all information is being migrated. That means those who have used PointsBet Sportsbook in Virginia will be able to access their accounts by simply downloading the Fanatics mobile app and logging in.
All information such as username, password, account balance, rewards and settings will be the same as they were on the PointsBet app. Rewards are available to all players using the Fanatics Sportsbook app during its first week of operation. This week is called the Rewards Surge. It offers players up to 5% cash back in FanCash — which is one of the more rewarding offers among the Virginia sportsbook promos out there.
FanCash – which Fanatics calls “The Currency of Sport” – is the crown jewel of rewards offered by the mobile sportsbook. It is also the reason Fanatics claims it is the most rewarding sportsbook in the state. The idea is that FanCash will be generated through placing bets and can be converted dollar-for-dollar into bonus bets or used to purchase team merchandise sold by Fanatics.
Players who place same-game parlay wagers will earn 5% FanCash. Players who place regular parlay bets will earn 3% FanCash. Any straight bet or odds boosts will earn an additional 1% FanCash.
Fanatics Sportsbook app has several unique features
Fanatics is also claiming its mobile app will exceed other operators’ apps because each was built specifically for either iOS or Android. The app will also be further curated and personalized for the player using it by the addition of a Discover page. It will feature “marquee games, trending bets, promos and the rewards you want most,” according to Fanatics. There are also plans to further personalize the experience using the Fanatics mobile app by focusing on the users’ favorite teams, sports and markets.
Lastly, there will be a new live-streaming service known as BetVision, which is a collaboration between Fanatics Sportsbook and Genius Sports Limited. It is being pitched as a first-of-its-kind product which allows bettors to place wagers while live-streaming certain pro football games in the mobile app.