Indiana Gaming Commission Approves Transferring PointsBet Sports Betting License To Fanatics

Indiana Gaming Commission Approves Transferring PointsBet Sports Betting License To Fanatics
Fact Checked by Pat McLoone

Fanatics succeeded in its quest for an Indiana sports betting license as the state’s gaming regulators gave it the green light to proceed with its plans.

At its meeting Monday afternoon in Indianapolis, the Indiana Gaming Commission unanimously approved the online sports apparel and memorabilia merchant’s transfer request for the vendor license previously conferred upon PointsBet.

Fanatics agreed to buy the Australian sports betting operator’s American assets in a deal worth $225 million in June. The acquisition filled a critical need for Fanatics, allowing its gaming division to expand quickly across the U.S. through PointsBet’s licenses in a dozen states. Fanatics already has been approved for licenses in Kentucky, Maryland, Massachusetts, Ohio and Tennessee.

It’s uncertain when Fanatics will rebrand the Indiana PointsBet site. It already has performed the switchover in Colorado, Virginia and West Virginia.

What to Watch for with Fanatics

When the Fanatics Indiana sportsbook becomes available for Hoosiers, it will offer an Indiana betting experience that seeks to connect the bettor with their interests. Fanatics has developed a sports betting app it says is more personalized, with selections based on an account holder’s favorite teams and sports.

The sportsbook also connects bettors with Fanatics’ retail operations. With each wager placed, users receive a portion back in FanCash, ranging from 1% to 5%, depending on the type of wager. FanCash can be used as a bonus bet or toward the purchase of any items on a retail site Fanatics operates.

Fanatics is also a partner with Genius Sports. That partnership allows Fanatics bettors to livestream certain NFL games on the mobile app if they’ve wagered on them. The low-latency feeds, which do not feature the lag time of other streaming services, are designed to increase the amount of microbetting or wagers on in-game action.

PointsBet Competitive in Indiana

There currently are a dozen Indiana sports betting apps operators active in the state. However, that number will decrease by one when Kindred Group completes the Unibet pullout from North American markets.

While PointsBet has not been one of the top performers nationally, it has enjoyed some success with Hoosiers since it went live in the state in March 2020. According to IGC data, PointsBet’s $7.8 million handle for October ranked sixth among all Indiana apps, and the $759,427 in gross receipts was the fifth highest among all online operators. Hoosiers bet $429.7 million in October, and the sportsbooks generated $45.2 million in revenue.

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Author

Steve is an accomplished, award-winning reporter with more than 20 years of experience covering gaming, sports, politics and business. He has written for the Associated Press, Reuters, The Louisville Courier Journal, The Center Square and numerous other publications. Based in Louisville, Ky., Steve has covered the expansion of sports betting in the U.S. and other gaming matters.