Fanatics Sportsbook and Casino has embarked on a two-day soft launch in Pennsylvania, closely overseen by the Pennsylvania Gaming Control Board.
Notably, this launch comes with no restrictions on customer sign-ups or playtime, offering an open door for enthusiasts.
This new offering from Fanatics marks its presence in the 11th US state, adding to its sportsbook presence across the nation.
Pennsylvania becomes the second state to welcome its casino element after West Virginia.
In a noteworthy development, PointsBet customers had the opportunity to migrate their accounts to the Fanatics Sportsbook app, albeit only on the day of the release.
Headquartered in New York, Fanatics Betting Group (FBG) boasts of disrupting the sports betting industry, thanks to its innovative FanCash loyalty scheme and impressive personalization and live streaming features.
For the casino segment, FBG highlights its exciting collection of slots and new games through its partnership with Light & Wonder.
Further, FBG plans to unveil exclusive content through its Fanatics Games Studio, with more games slated for release later in the year.
Pennsylvania witnessed a historic year in 2023, as its gambling market revenue surged to an all-time high of $5.7 billion.
This remarkable growth was largely driven by record-breaking figures in igaming and sports betting.
FBG’s casino expansion into Pennsylvania positions it to tap into an igaming market brimming with potential.
The state legalized online casinos in 2019, and in 2023, Pennsylvania’s igaming revenue skyrocketed to $1.7 billion, surpassing the previous record by an impressive 27.7%.
With the industry first crossing the $1 billion mark in 2021, 2024 could potentially see it achieve the $2 billion milestone.
In addition to the success of igaming in Pennsylvania, sports betting also thrived, reaching a record $458.6 million in 2023.
This represented a 14.3% increase from the previous year’s high. The total player handle in 2023 reached $7.7 billion, a 6% increase from the previous record of $7.3 billion.
FBG’s entry into Pennsylvania will bring it into competition with industry giants like FanDuel and DraftKings, which are partnered with Valley Forge Casino Resort and Hollywood Casino at the Meadows, respectively.
According to a December 2023 report, FanDuel leads Pennsylvania’s sports betting market with $233.6 million in revenue, while DraftKings follows with $121.1 million.
FBG CEO Matt King expressed his enthusiasm for the challenge of catching up to these leaders, having previously led FanDuel to prominence in the US sports betting industry.
In the realm of igaming, Hollywood Casino at Penn National led the revenue rankings with $61 million, followed by Valley Forge Casino Resort with $41.3 million and Rivers Casino Philadelphia with $31.3 million.