Fanatics Sportsbook Enters Indiana Mobile Sports Betting Scene
· 2024-02-28

Fanatics Sportsbook Enters Indiana Mobile Sports Betting Scene

Fanatics Sportsbook announced its sports betting app has gone live in Indiana, making the Hoosier State the 14th where it has successfully transitioned its platform from PointsBet.

Indiana marks the third state this month where Fanatics Sportsbook has gone live, having launched in Iowa on Feb. 6 and Michigan last Thursday. Fanatics Sportsbook has been migrating its platform on a state-by-state basis since acquiring PointsBet for $225 million last August.

Much like Iowa and Michigan, Fanatics Sportsbook is entering a mature mobile sports betting market with Indiana. The Hoosier State launched sports betting in September 2019 and mobile wagering the following month. It has generated more than $15.3 billion handle in 53 months of legal betting and is one of 10 states to surpass $1 billion in operator sports betting revenue.

PointsBet ranked seventh among 13 mobile betting platforms for 2023 handle in Indiana with $88.4 million, down 17.3% from the previous year and 33.8% off its peak of $133.5 million in 2021. Its $7.3 million in accepted wagers to start 2024 was down 11.6% from January 2023.

Fanatics Sportsbook is tethered to Hollywood Casino in Lawrenceburg along with ESPN BET, though the two appear to be moving on separate planes. The PENN Entertainment-owned sportsbook was willing to aggressively court bettors with promotional credits and bonuses as part of its national rollout in mid-November in a bid to reach the second tier of mobile options with BetMGM and Caesars to round out the top five.

Fanatics Sportsbook replaces PointsBet in a third tier with BetRivers, Hard Rock Bet, and new entrant bet365 — operators that consistently range between $5 million and $10 million in monthly handle with the occasional surge. PointsBet had an all-time monthly high in handle of $16.2 million in December, while BetRivers reached a 2023 zenith with $13.1 million in November. Bet365 launched in late January and generated $1.1 million worth of wagers in the final two days of the month.

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