The Maryland Lottery and Gaming Control Commission has issued a mobile sports wagering license to Fanatics. The development comes as the gaming arm of the sports merchandise giant, Fanatics Sportsbook, looks to expand its operations nationwide. As per CEO Matt King, the sports betting firm wants to have operations live in at least 15 states by the start of the 2023 NFL season.
On May 30, Fanatics Sportsbook successfully completed a controlled demonstration of its mobile sports wagering platform, during which customers participated in live wagering. Maryland Lottery and Gaming staff ensured that the operator complied with all required procedures and that its systems functioned properly during this demonstration.
Fanatics has been operating a brick-and-mortar sportsbook in Maryland since January at FedEx Field. The company has also launched beta versions of its mobile sportsbook in Ohio and Tennessee and began taking bets in Massachusetts on May 25. But these moves are only the start of the company’s expansion plans: earlier this month, Fanatics announced the $150 million purchase of PointsBet’s US operations, which gave it access to a dozen states, including Maryland.
Fanatics opened its Maryland brick-and-mortar sportsbook in January
The moves are significant for Fanatics, a relatively new entrant to the sports betting market primarily known as a retailer of officially licensed sports apparel. The firm entered the iGaming and sports betting market in 2021, backed with resources to quickly expand in the space: as of last December, the company was valued at $31 billion in private markets.
Fanatics is the 10th mobile sportsbook to launch in Maryland and joins the likes of Barstool Sportsbook, Betfred Sportsbook, BetMGM, BetRivers, Caesars Sportsbook, DraftKings, FanDuel, PointsBet, and SuperBook. However, with Fanatics’ approval, PointsBet’s Maryland operations are expected to shutter later this year.
Maryland also features 10 retail sports betting facilities. These include Bingo World in Brooklyn Park, Greenmount Station in Hampstead, Hollywood Casino in Perryville, Horseshoe Casino in Baltimore, Live! Casino in Hanover, Long Shot’s in Frederick, Maryland Stadium Sub at FedEx Field in Landover, MGM National Harbor in Oxon Hill, Ocean Downs Casino in Berlin, and Riverboat on the Potomac in Charles County.
During April, Maryland’s sportsbooks combined for more than $328.4 million in handle and contributed nearly $3.9 million to the Blueprint for Maryland’s Future Fund, which supports public education.