Fanatics Sports Betting App Off to Solid Start, Says Research Firm

Posted on: September 15, 2023, 04:13h. 

Last updated on: September 15, 2023, 06:11h.

Todd Shriber @etfgodfather Read More
Expertise: Financial, Gaming Business, Mergers and Acquisitions.

Fanatics’ newly launched mobile sports wagering application is off to a strong start, at least in terms of number of downloads through the first week of the 2023 NFL season.

Fanatics
The Fanatics Sportsbook logo, seen above. The operator captured a healthy percentage of mobile betting app downloads last week. (Image: Fanatics)

The operator launched the Fanatics Sportsbook app in Maryland, Massachusetts, Ohio, and Tennessee last month. After completing a portion of its previously announced acquisition of PointsBet US, Fanatics debuted the app in another seven states in late August — Colorado, Iowa, Kansas, Maryland, New Jersey, Pennsylvania, Virginia, and West Virginia. Data indicate the rookie app is on solid ground in its infancy.

During the first week of the 2023 NFL season, the Fanatics-PointsBet tandem captured an impressive 14% app download share among a selection of top U.S. OSB brands,” according to research firm Eilers & Krejcik Gaming (EKG).

That 14% download share includes 9% accrued by the Fanatics Sportsbook app and 5% attributable to PointsBet: A Fanatics Experience, which is the branding the operator is using in some states in which it is awaiting regulatory approval for the PointsBet US acquisition.

Fanatics Already Lifting PointsBet

Australia-based PointsBet (OTC: PBTHF) decided to part with its US operations because the business was bleeding cash while failing to provide adequate market share.

It remains to be seen if Fanatics will solve the latter scenario, but it appears to be off to a strong start in terms of getting bettors to at least consider the sportsbook. As noted above, PointsBet: A Fanatics Experience commanded 5% of sportsbook app downloads last week – a sharp improvement from the mere 1% PointsBet captured in the year-earlier period.

According to EKG data, the only other sportsbooks to notch app download increases during the first week of NFL action were FanDuel and Bet365. In the case of the former, the jump was modest, and regarding Bet365, it was coming off a low base of a small number of states in which it was operational a year ago.

The impressive start in app terms by Fanatics Sportsbook may have been assisted by the operator’s creative promotional tactics.

“Both Fanatics and PointsBet offered merchandise-focused promos that seemed to resonate with U.S. OSB players. For example, on PointsBet, new customers get a free jersey if they bet $50 or more,” EKG added.

Downloads Need to Become Bets

Sports wagering mobile apps are like any other apps: Smartphone users can download, but that doesn’t mean they’ll allocate cash to it. Said differently, while a fair amount of bettors downloaded Fanatics Sportsbook last week, that doesn’t guarantee they placed wagers with the operator.

“What percentage of Fanatics downloads came from non-live OSB states? And are the Fanatics/PointsBet products good enough to keep acquired OSB players around after they get their promo merch?” EKG asked in conclusion.

Week two of the NFL season started in earnest last night, and data from Sensor Tower indicate that over this week, both Fanatics Sportsbook and PointsBet: A Fanatics Experience have continued the brisk pace of downloads.