Fanatics will launch sports betting sometime in January according to CEO Michael Rubin.

Rubin appeared at the 2022 CAA World Congress of Sports last week and announced that Fanatics will launch its sportsbook in multiple states starting January with plans to be active in 15 to 20 states by the start of the 2023 NFL season.

Rubin singled out New York as one state that Fanatics sportsbooks will not launch in right away due to operation costs in the state, where according to Rubin, you cant make money.

Rubin boasted that Fanatics will have an interconnected system where one account will give customers access to all Fanatics businesses. This would mean anyone connecting to Fanatics sports memorabilia and apparel arm would also be able to easily connect to the sportsbook.

According to Rubin, Fanatics currently owns a database of 94 million customers which is a tremendous advantage to the brand when it comes to sports betting customer acquisition. If it is able to spend less on customer acquisition than its competitors it could help it make a mark in the sports betting industry very quickly.

Its been a slow crawl toward sports betting for Fanatics which a year ago brought on board former FanDuel Sportsbook CEO as their CEO, raised $1.5 billion in March, and trademarked BetFanatics in May. According to Rubin taking time and going so slowly has actually saved Fanatics money.

People that think licensing is a problem, to be clear, its 30 to 40% cheaper today than it was a year ago, Rubin said at World Congress, So our patience saved us money. Id rather let everyone spend their brains out and then have to make money. Then I come in with a big check book and then Im spending when nobody else can.

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Fanatics sports betting launching in January - National Football Post