Fanatics Sportsbook begins beta testing offers in Maryland
The new merchandising-company-turned-sportsbook will use a cross-loyalty program called FanCash in both its app and its apparel shop.
Fanatics Sportsbook launched its beta in Maryland this week, offering testing promo codes for new members in the Old Line State. Fanatics, the licensed sports merchandise and apparel brand, has recently branched into sports betting. It has previously launched in Massachusetts, Tennessee and Ohio.
The beta test offer includes a ‘bet $5 get $200 in bonus bets’ promo, which is available in the three aforementioned states, and now Maryland. The sportsbook hopes to capitalize on the timing of the NBA Finals this week.
Fanatics also offers a rewards program for its bettors called FanCash. As part of the beta test offer, users can receive up to 5% back in FanCash on every bet made. FanCash is also a ‘cross-loyalty’ program, as the rewards can be used on the site’s apparel merchandising shop.
Only two months ago in April, the brand announced plans to launch its first sports betting app. At that time, Fanatics’ CEO Michael Rubin planned to invest $1bn into its new sports betting division to further its company’s position in the US sports betting market. Rubin has said he aims for Fanatics to be “the top sports betting company in the world” in 10 years’ time.
Two weeks ago, Fanatics also confirmed the purchase of PointsBet’s US operations. The $150m deal has investment bank Moelis & Company advising on the transaction. PointsBet, based in Australia, confirmed in April that it planned to sell its US sports wagering division due to the competitive nature of the market.
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