Posted on: September 15, 2023, 04:13h.
Last updated on: September 15, 2023, 04:13h.
Fanatics’ newly launched mobile sports wagering application is off to a strong start, at least in terms of number of downloads through the first week of the 2023 NFL season.
Last month, Fanatics Sportsbook app was launched in Maryland, Massachusetts, Ohio, and Tennessee. Recently, it expanded to seven more states: Colorado, Iowa, Kansas, Maryland, New Jersey, Pennsylvania, Virginia, and West Virginia, following its acquisition of PointsBet US. According to research firm Eilers & Krejcik Gaming (EKG), the app has received an impressive 14% share of app downloads among top U.S. online sports betting (OSB) brands during the first week of the 2023 NFL season.
This 14% download share includes 9% for the Fanatics Sportsbook app and 5% for PointsBet: A Fanatics Experience, which is being used in some states as the branding while waiting for regulatory approval for the PointsBet US acquisition.
Fanatics Already Boosting PointsBet
Australia-based PointsBet (OTC: PBTHF) decided to divest its U.S. operations due to significant cash outflow and a lack of market share. The launch of Fanatics Sportsbook appears to have given PointsBet a much-needed lift. Last week, PointsBet: A Fanatics Experience accounted for 5% of sportsbook app downloads, a significant improvement over its mere 1% share during the same period last year.
It remains to be seen if Fanatics will solve the latter scenario, but it appears to be off to a strong start in terms of getting bettors to at least consider the sportsbook. As noted above, PointsBet: A Fanatics Experience commanded 5% of sportsbook app downloads last week – a sharp improvement from the mere 1% PointsBet captured in the year earlier period.
EKG data shows that the only other sportsbooks to see app download increases during the first week of NFL action were FanDuel and Bet365. However, FanDuel’s increase was modest, and Bet365 was operating in only a small number of states a year ago.
The early success of Fanatics Sportsbook may be attributed to the operator’s creative promotional tactics. EKG stated, “Both Fanatics and PointsBet offered merchandise-focused promos that appeared to resonate with U.S. OSB players. For example, on PointsBet, new customers get a free jersey if they bet $50 or more.“
Downloads Need to Result in Bets
While Fanatics Sportsbook saw a significant number of downloads last week, it’s important to note that not all users may be actively placing bets with the operator. EKG concludes, “What percentage of Fanatics downloads came from non-live OSB states? And are the Fanatics/PointsBet products good enough to keep acquired OSB players around after they get their promo merch?“
As week two of the NFL season kicked off, Sensor Tower data indicates that both Fanatics Sportsbook and PointsBet: A Fanatics Experience have continued to maintain a strong rate of downloads.