On five-year anniversary of floodgates opening, Fanatics buys PointsBet

Milwaukee Brewers v Pittsburgh Pirates
Getty Images

Sunday was the fifth anniversary of the U.S. Supreme Court decision opening the floodgates for legalized gambling, on a state-by-state basis. Sunday was also the day on which a massive company with deep ties to the NFL and other major sports acquired an established sports book.

Via multiple reports, Fanatics will purchase the U.S. operations of PointsBet for $150 million.

Via A.J. Perez of FrontOfficeSports.com, the move will expand the Fanatics sports book footprint to 12 new states.

Fanatics has become a $31 billion behemoth, with major focus on sports merchandise. It aspires to provide all things that a sports fan craves, in one spot. Betting now becomes a potentially big part of that.

PointsBet will retain its Australian and Canadian assets.

Sports betting still has a long way to go in the U.S., especially with major states like California, Texas, and Florida not yet in play. While other states are adding billions to their bottom lines.

4 responses to “On five-year anniversary of floodgates opening, Fanatics buys PointsBet

  1. I have no problem with the NFL embracing betting but NFL partners should not be allowed to be involved in gambling. It should be the same as front office types, coaches, scouts, etc.

  2. “While other states are adding billions to their bottom lines.” Really? It is a bit early in the week to digest exaggerations…maybe at a TGIF happy hour, but not on a Monday.

  3. Any time the government gets involved in gambling, you will get ripped off for the worst odds.

  4. Wait till a few states start looking for companies to sue, just like tobacco companies, for the massive increase on their courts from all the new bankruptcies to not paying child support, and in California a 100% tax rate on winnings and the internet companies, since they are going to need a few extra trillion dollars.

Leave a Reply

You must be logged in to leave a comment. Not a member? Register now!

This site uses Akismet to reduce spam. Learn how your comment data is processed.