Fanatics Sportsbook Market Share Surges to 4.8% in US Betting Arena
Fanatics is rapidly gaining ground 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).
Fanatics Sportsbook logo
The company's growth stems from its $225 million acquisition of PointsBet US in 2023, coupled with strategic focus on technology and high-value customer retention. The Fanatics betting app now ranks third in EKG's latest testing report, showing significant improvements in promotional offerings, cash-out options, and same-game parlay availability.
Bar chart showing growth data
Notable achievements include:
- Securing fifth place in New York's competitive market, despite initial concerns about the state's 51% tax rate
- Operating in 22 states plus Washington, DC, with Missouri expansion planned for 2024
- Reaching peak bonus spending of 100% of GGR in October across reported states
- Focusing successfully on VIP customer acquisition and retention
While FanDuel and DraftKings still dominate the US sports betting market, Fanatics and bet365 are emerging as serious challengers to their duopoly. The company's strategic approach to customer acquisition and retention, combined with its technological improvements, positions it well for continued growth in the competitive US sports betting landscape.