Fanatics ‘to Spend up to $1B on Ads’ in Sports Betting Push

Fanatics is eyeing up a major blowout on advertising as it tries to catch up with rivals, DraftKings and FanDuel, its CEO has said.

Fanatics’ Michael Rubin told Bloomberg that he wants Fanatics to be “number one” in a competitive industry facing challenges on all sides. That involves a huge investment in advertising, potentially as much as $1 billion.

However, despite competition from the growing prediction market industry, Rubin sees Fanatics’ private model as giving it a distinct advantage over its publicly held rivals.

Advertising to Double

Fanatics currently spends around $350 million on gambling advertising. However, Rubin said in a wide-ranging interview that the company plans to double this in 2027 – and maybe more.

Though Fanatics makes most of its money from collectibles, it has a growing online sports betting arm.

Since launching its online sportsbook in 2023, Fanatics is now legal and regulated in over 20 U.S. states. However, it still lags way behind U.S. leaders, FanDuel and DraftKings – the undoubted kings of regulated sports betting in America.

Rubin has said Fanatics has the financial kahunas to achieve the company’s goals. There is “$2 billion” in free cash flow coming this year.

Fanatics Sportsbook Lowdown

• Launched: 2023
• Sportsbook: Active in 23 states
• Online Casino: Active in four states
• Prediction Market: Fanatics Markets launched 2025

Fanatics Faces ‘Tough Road’ on Prediction Markets

Fanatics isn’t just focused on sports betting. It launched its own prediction market platform, Fanatics Markets, last year. It is available countrywide, even in Texas and Georgia – states that (for now, at least) allow prediction markets where online sportsbooks are restricted.

Despite avoiding the glare of the headlines that have seen Kalshi and Polymarket face the brunt of legal challenges, Rubin still recognizes there are challenges ahead.

And one of those challenges is having enough capital to invest in marketing to keep up.

Novig is a case in point. It’s also a recent addition to the growing prediction market industry. However, it achieved a huge surge in signups and first-time deposits following its controversial ad campaign starring Sydney Sweeney. Novig’s valuation is now a reported $2 billion following an impressive funding round.

Fanatics isn’t short of cash: its sports merchandising and collectibles business will, Rubin told Bloomberg, help boost overall revenue to $14 billion this year. Certainly enough to help finance a little marketing push.

Innovations Help Grow Fanatics Share

Fanatics can draw on some of the innovations that have been adopted by other sportsbooks. The ‘Fair Play’ tool offers insurance on losing prop bets featuring injured players who withdraw from games.

Plus, Fanatics offers FanCash, an on-site currency that customers can spend anywhere on the site. That means using FanCash credits for merchandise or cards, the traditional wing of the Fanatics business.

The brand purpose, Rubin said, was “to relentlessly enhance the fan experience.” That devotion to customers has given Fanatics a 10% market share in the U.S. It will be interesting to see what a market splurge can do to improve its share over time.