When you sign-up through links on our site, we may earn an affiliate commission. Learn more >

Fanatics Buys PointsBet’s US Division for $150 Million

Written by: Michael Savio
Published May 15, 2023
7 min read

Earlier this year, there was talk about PointsBet searching for a sale for the United States portion of their business. It appears that a deal has been found with sports merchandising giant Fanatics, which has also made its way into the sports betting industry, agreeing to buy all PointsBet American assets for about $150 million.

Fanatics Buys PointsBet’s US Division for $150 Million

Deal Details

This is Fanatics' first major move in the sports betting marketplace, as this deal positions them to break into the market quickly. A joint statement released from both companies said, “Fanatics and PointsBet are excited to enter into an agreement for Fanatics Betting and Gaming to acquire PointsBet’s U.S. business.”

The statement continued, saying, “While there are still several steps in the process to complete the acquisition, both parties are confident in the outcome. Fanatics Betting and Gaming and PointsBet will provide further details of the proposed deal and timely updates in the coming weeks.”

This deal gives Fanatics access to 15 American markets, including several with major sports franchises. It would seem likely, with a good initial foothold, that Fanatics will increase their market availability by applying for licenses in other legal betting states throughout the country as well as getting into markets as they are legalized, as is expected with Kentucky and North Carolina later this year.

Why PointsBet is Selling

PointsBet financial forecasts point to potentially more than $75 million in losses for the second half of 2023. The hyper-competitive American market has created tough challenges for the Australian sports betting brand. The continued losses would have required additional capital from to-be-determined investors. The sale gives PointsBet life and hopes for the other sports betting platforms they operate globally.

Will Fanatics Be Successful and Challenge the US Sports Betting Giants

Unlike PointsBet, Fanatics will not have capital issues, with a company valuation of over $31 billion and reported revenue forecasts for 2023 looking to be about $8 billion. The brand is well known for its apparel, and it also recently acquired the Topps trading card company last year for a reported $500 million deal. Fanatics' ability to inject cash flow into their new sportsbook allows them to challenge any sports betting provider in the industry.

An excellent company to compare to would be Sports Illustrated, which, in the last few years, got into the sports betting game. SISportsbook offers some really cool betting promos that partner with their media side for betting bonus credits coupled with magazine covers. 

It will be interesting to watch Fanatics develop promos that are similar but with their apparel brand. It would be a good draw to earn a betting bonus to go with a t-shirt of your favorite team. Fanatics will be a brand to watch for sure in the coming months and years to follow.

Image for Michael Savio


Michael Savio

504 Articles

Michael is an avid sports fan and a veteran bettor from Milwaukee. He learned the trade from his grandfather in Las Vegas as a kid and has turned that into a successful career. He cheers for all Wisconsin pro teams along with his Alma Mater Arizona State. He specializes in baseball betting, but has experience in football, basketball, and hockey as well. When he isn’t pouring over stats, he’s spending time with his two young children.

More info on Michael Savio
We've been featured on:
espn logo
reuters logo
cbs-news logo
forbes logo
entrepreneur logo
entrepreneur logo
We only list licensed sportsbooks

© Rebel Penguin ApS 2024 (a subsidiary of Gaming Innovation Group Inc.)

We support responsible gambling. 21+ Only. Gambling problem? Call 1-800-Gambler.

WSN.com is run by iGaming Cloud Inc (a Gaming Innovation Group Subsidiary) and is registered with the New Jersey Division of Gaming Enforcement (DGE) under affiliate vendor ID 89744, with the Indiana Gaming Commission (IGC) under certificate of registration number SWR-000148, approved by the Pennsylvania Gaming Control Board as a gaming service provider, under certificate registration number 117656-1, possesses a Vendor Minor sports betting license from the Colorado Limited Gaming Control Commission (account number 94414163), granted a vendor registration number VR007603-20-001 by the Michigan Gaming Control Board, an interim Sports Wagering Supplier license, under license number SWS 066, issued by the West Virginia Lottery Commission, a sports betting vendor registration, under registration number #100400, issued by the Director of Gaming Licensing and Investigations of the Virginia Lottery to operate in the State of Virginia, and a Vendor Registration issued by the Sports Wagering Committee of the Tennessee Education Lottery Corporation.

Advertising disclosure: WSN contains links to online retailers on its website. When people click on our affiliate links and make purchases, WSN earns a commission from our partners, including ESPN and various sportsbooks.