Fanatics Betting and Gaming (FBG), a subsidiary of Fanatics Holdings, has introduced its online sportsbook in West Virginia, marking a shift for customers in the state from the existing PointsBet platform. The new Fanatics Sportsbook app is now available for download for West Virginia consumers, allowing them to start placing bets.
Additionally, FBG will be piloting its new online casino, embedded within the Fanatics Sportsbook app. This online casino will feature a variety of slot titles and table games such as roulette and blackjack. The launch of the Fanatics Sportsbook app replaces the existing PointsBet brand in West Virginia, with registered PointsBet users in the state being automatically transitioned to the new platform.
Existing PointsBet users can use their original credentials to log in to the Fanatics Sportsbook, and their account balance, rewards points, and responsible gaming settings will be migrated over as well. This move is part of a wider initiative, as FBG has agreed to acquire the US operations of Fanatics and is moving closer to full control of the PointsBet US business. The $225.0m deal for the acquisition of Fanatics US operations was approved by PointsBet shareholders in June.
FBG has also completed the acquisition of its operations in New York and Wyoming, bringing it closer to gaining full control of the PointsBet US business. PointsBet has also been approved for acquiring PointsBet US in eight other states, including West Virginia, with additional state operations to be transferred to FBG as approvals are secured in each state.
The acquisition process for PointsBet US was not without its challenges, as DraftKings submitted a higher proposal worth $195.0m in June. However, FBG ultimately returned with an improved $225.0m offer, leading to DraftKings dropping out of the process.
Fanatics has also partnered with Paysafe to offer traditional card payments and alternative payment methods across five US states. This partnership will allow players in Kentucky, Maryland, Massachusetts, Ohio, and Tennessee to deposit and withdraw using debit cards and alternative payment methods, as well as Paysafecash, a barcode-based online cash solution.