Fanatics Sportsbook Shows Positive Growth in Maryland

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00:00 [MUSIC]

00:03 >> All right, now let's move on to Maryland,

00:05 where Fanatic Sportsbook is active.

00:08 Also, we know Fanatic is trying to kind of boost up some of their numbers here and

00:12 see how much revenue they can get in, become maybe the third spot.

00:16 And as far as sports betting is concerned,

00:18 we talked about FanDuel and DraftKings being one and two.

00:21 How did Fanatic Sportsbook fare as the summer has gone on in August here,

00:26 in Maryland, by the way?

00:27 >> Yeah, certainly, I think if you look at it,

00:32 just Fanatic's kind of on its own, pretty positive trend

00:37 since they launched full scale in June.

00:41 They've been able to increase their monthly handle each month.

00:47 1.6 million in handle in June, roughly 1.9 million in July,

00:53 and then in August, 6.7 million.

00:56 So obviously a big jump there from July to August as they're creating brand awareness.

01:04 They're dishing out plenty of promo dollars to get people on their app.

01:10 And now what we've been kind of looking at since they

01:15 purchased the US assets of PointsBet is just

01:20 how they're going to fare in the overall landscape.

01:23 And I do believe that it's still way too early to tell just how they're going to

01:29 kind of quote unquote rank, if you will, amongst the more established

01:35 players like the FanDuel and DraftKings.

01:38 So just looking at it from a dollar standpoint, Fanatic $6.7 million in August.

01:46 They certainly have quite a ways to go if they want to kind of compete with those top two.

01:52 FanDuel in August in Maryland, $104 million in handle.

01:57 DraftKings $92 million in handle.

02:01 So obviously a bit of ground that needs to be made up there.

02:07 But the people behind Fanatics have always been bullish on their app,

02:13 their technology, and just kind of seeing where this goes.

02:19 And as they expand into more states, as that changeover from PointsBet to Fanatics branding

02:27 happens in more states where PointsBet is currently operating,

02:32 I think we'll see that sort of trend start to pick up.

02:37 Just a couple of other interesting notes from Maryland in the last month.

02:45 I believe it was June, May or June, where Maryland state officials started sharing

02:54 the sport by sport breakdown of their betting.

03:00 So which sports, which types of bets are getting the most monthly handle?

03:07 And no surprise in August, Parley's quite popular as they are most

03:15 everywhere else and certainly baseball too, garnering a lot of attention,

03:21 especially in Maryland with as well as the Orioles have been playing their

03:27 first place currently in the AL East.

03:30 And as we see that baseball divisional race heat up and then obviously going into the playoffs,

03:37 the Baltimore Ravens always a popular team in town for Maryland.

03:44 So we'll see how that all starts to progress here again as we get into football season.

03:52 But again, Maryland state officials a couple of months ago started putting out those per sport handle.

04:01 And obviously Parley's baseball really the top two so far throughout the summer there in Maryland.

04:09 [MUSIC]

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