In the fast-changing world of gaming, Fanatics Casino is disrupting the industry status quo. It maintains its stronghold on sportsbook offerings while strategically setting its sights on the online casino market. The acquisition of NJ Pointsbet conducted by Fanatics Betting and Gaming, has shown that they’re ready to do more than just sports betting. But the burning question among people in the industry is the following: Will Fanatics Casino launch its online casino in New Jersey by 2023?
After smartly acquiring NJ PointsBet, the company has big plans that go beyond sports betting, namely giving life to Fanatics Casino. This is a move that will not only increase its market presence but also signaled a major shift and new focus for the company. However, the company also continues its sports-centered approach. This isn’t just talk — the numbers back it up. Sports betting has grown incredibly fast, but online casinos represent a new opportunity for making money.
This change is actually a big deal. The American Gaming Association (AGA) noted that the U.S. gambling industry brought in a record 42.7 billion U.S. dollars in 2021. This shows just how ripe the situation is for Fanatics’ growth. “This isn’t just about getting bigger; it’s a forward-thinking step into a more varied future,” says industry expert Helen Cartwright.
Fanatics Betting and Gaming launched in 2021 as the gambling arm of Fanatics Holdings Inc. It currently operates a dynamic sportsbook in 11 states. It also established online casino presence in 4, marking a significant expansion in the digital gaming arena.
Having succeeded in sports betting, Fanatics Casino’s plans for going digital are creating excitement all over the industry. Using its winning sports strategy, moving into online casinos makes sense and seems likely. Ari Borod has shared that the company’s plan is more than just careful testing. They’re all in. New Jersey, known for its thriving gaming scene, looks like the perfect place for their big plans in 2023. New Jersey’s laws are known for being open, inviting companies to come in with exciting possibilities, making Fanatics Betting and Gaming a possible standout in NJ’s online gaming world.
CEO Ari Borod and other leaders have made it clear they’re committed to exploring new areas and expanding the company’s reach.
“If there are people who want to play online blackjack on their phone, we don’t want them going to a competitor to do it because we want them to continue engaging with Fanatics,” Borod said recently on the “Gamble On” podcast. “So we’re obviously going to have to have that, to give the customer what they want. It’s definitely part of the strategy.”Ari Borod, Fanatics’ chief business officer
Understanding NJ’s rules is important for this change. The New Jersey Division of Gaming Enforcement’s (NJDGE) positive approach to online gaming creates a good environment, but companies have to follow the rules closely, showing they’re honest and looking out for their customers.
Calling the online casino market just a ‘project’ doesn’t capture its huge potential. For aware companies like Fanatics, tapping into the casino market is akin to hitting a royal flush.
For Fanatics Casino, these numbers don’t just mean a chance for success; they’re a signal to get moving. By combining this new direction with its strong sports betting business, the company expects more customer engagement and money coming in. This isn’t a guess; it’s a smart prediction based on market trends and detailed analysis of what customers want.
Statistics suggest that the online gambling market will reach over $92 billion worldwide by 2023, showing how profitable it can be.
“We’re entering a time when online casino gaming is essential to our strategic plan,” Fanatics Casino CEO Ari Borod explained recently.Ari Borod, Fanatics Casino CEO
Right now, Fanatics Casino is at a turning point. While it’s rooted in sports betting, the appeal of online casino gaming can’t be ignored. The planned entry into NJ’s online space by 2023 could be a key chapter in the company’s history. As Fanatics Casino looks at this rich opportunity, fans and gamers are eager to see what will happen. The risk is big, but the potential rewards are bigger — an exciting situation for anyone involved in this changing market.