Sports enthusiasts in Kansas are now eligible to engage in sports betting through the newly available Fanatics Sportsbook app.
This development is notable for existing PointsBet users, as their account details, including usernames, passwords, account balances, rewards, and any preferences for responsible gaming, will be seamlessly transferred to the Fanatics platform.
This strategic move signifies Fanatics‘ expansion into its 17th state in the United States, marking a significant milestone following its recent entry into North Carolina’s legal sports betting scene.
Fanatics has been on a rapid growth trajectory, evidenced by its expansion into New York, replacing PointsBet, and similar transitions in other states such as Indiana.
August 2023 saw FBG, the parent company, acquiring PointsBet US and subsequently phasing out the brand in favor of Fanatics.
Additionally, this month, FBG secured an event wagering license in Arizona from the Department of Gaming, paving the way for its launch in the state.
Beyond sports betting, FBG’s portfolio includes Fanatics Casino operations in Michigan, Pennsylvania, and West Virginia.
Kansas has witnessed a positive trend in its sports betting market, as February’s data indicates a 4.6% increase in the total betting handle year-on-year, reaching $203.0 million.
The online sportsbooks accounted for the majority, with $193.9 million, while $9.1 million was contributed by retail locations.
Remarkably, the state’s revenue surged by 8,405.8% to $3.1 million, with the lion’s share coming from online betting. Kansas also collected $305,494 in tax revenue from these activities.
PointsBet’s partnership with Kansas Crossing, however, faced challenges, failing to generate revenue in February despite a $1.6 million wagering volume.
This was in contrast to the performance of other online betting ventures in the state.
DraftKings and Boot Hill Casino led the market with $2.0 million in revenue from $87.7 million in bets.
Meanwhile, FanDuel and Kansas Star reported $885,938 in revenue from $58.5 million in bets, and Caesar’s, in collaboration with Kansas Crossing, generated $198,496 off $11.2 million.
This mixed financial landscape highlights the competitive and evolving nature of Kansas’ sports betting market.