A Fanatics sportsbook in Maryland could finally debut soon. The app called BetFanatics is aiming for a January 2023 launch. This target comes following the announcement that the sports merchandising company raised $700 million for its sports betting division. This raises the overall company’s valuation to $31 billion.
Latest On Fanatics Sportsbook Maryland Venture
Fanatics is one of the few sportsbooks that have been granted a Maryland sports betting license but has yet to launch. The BetFanatics app has market access in Maryland and Ohio (which goes live on January 1). Maryland could see the grand opening of the Fanatics sportsbook.
BetFanatics is one of three sportsbooks that have betting licenses but have yet to go live in the Old Line State. The company entering sports betting has been a long time coming. The Fanatics brand is synonymous with the sports world and is expected to be a major player in the industry. The company expects BetFanatics to be the leader in sports betting within a decade.
The consistent growth of the company over the last few years holds credence to this idea. Fanatics was worth $6.2 billion in August 2020 and is now valued at $31 billion. Maryland and Ohio are just the start for this company.
Maryland Market Already Thriving
The Maryland sports betting market has hit the ground running. BetFanatics will be joining an already booming market once it goes live likely in January. During its opening weekend, 16.5 million transactions took place.
Maryland’s early success has seen its activity comparable to established markets like New Jersey and Indiana during that same window. BetFanatics will also be launching in time for the NFL Playoffs which is sure to see a massive uptick in betting action in the Old Line State.
The future of Maryland betting will see even more sportsbooks launch, further invigorating the market. BetFanatics could carve out a strong market share in Maryland. Sportsbooks have just a one-month head start ahead of BetFanatics.
Locals can expect to see BetFanatics at the turn of the new year. Online sports betting in Maryland is getting more options going forward.
