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The Maryland Lottery and Gaming Control Commission issued a mobile sports wagering license to Fanatics Sportsbook on Thursday, paving the way for the nascent operator’s online expansion across the capital region.
Fanatics completed a controlled demonstration of its mobile sports wagering platform on Monday, during which a group of customers took part in live wagering throughout the testing process. During testing, the MLGCC staff ensured that Fanatics complied with all required procedures and that its systems functioned properly, according to a statement from the commission.
Addressing reporters on May 10 at the SBC Summit North America, Fanatics Sportsbook CEO Matt King indicated that the company planned to offer online sports betting on a limited basis in at least four states by the end of June. Fanatics Sportsbook previously launched in a limited capacity in Ohio and Tennessee around the NFL Draft. Last week, Fanatics entered Massachusetts for beta testing among select existing Fanatics customers.
A presence in the capital region
In January, Fanatics made its retail sportsbook debut at FedEx Field, the home of the NFL’s Washington Commanders. The sportsbook opened its doors at the Landover, Maryland stadium a day before the start of the NFL divisional playoffs. The Commanders missed the playoffs for the eighth time in 10 seasons.
Fanatics becomes the 10th mobile sportsbook operator to launch in Maryland, joining industry heavyweights FanDuel, DraftKings, BetMGM, and Caesars Sportsbook. Another prominent online sportsbook, PointsBet, serves as the operator for the Riverboat on the Potomac in Charles County.
Last month, Fanatics announced intentions to acquire PointsBet’s U.S. assets for about $150 million. The planned acquisition is widely viewed as the most notable M&A deal in the U.S. sports betting space since Caesars acquired William Hill two years ago.
Fanatics received a $31 billion valuation last December. Prior to Super Bowl LVI in 2022, Fanatics CEO Michael Rubin set an ambitious goal to become the top sportsbook in the world over the next 10 years.
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