BetParx Might Be Acquired By Fanatics Sportsbook
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2023 has been filled with sports betting storylines already, from the launch of the Ohio sports betting market to the upcoming rollout of Massachusetts sports wagering. However, one story that many bettors have been keeping an eye on is the impending release of Fanatics Sportsbook.
The upcoming online sportsbook from sports retail company Fanatics has been highly anticipated, and the company is looking at big moves to make its mark on the competitive wagering industry. Here’s how a big acquisition could be the next major move for Fanatics Sportsbook.
Fanatics Considering BetParx Sportsbook Deal
BetParx Sportsbook, the online sports betting app from Parx Casino, could be acquired sooner rather than later. With Fanatics Sportsbook eyeing a big splash in the sports wagering world, CNBC has reported that the merchandising giant could fully acquire BetParx. Although no deals have been finalized quite yet, BetParx Sportsbook has been presented with a letter of intent.
BetParx Sportsbook became available in 2022, with Greenwood Gaming & Entertainment teaming up with software company Playtech on the platform. BetParx Sportsbook is now available in a handful of major betting states, including Maryland, Ohio, Michigan, Pennsylvania, and New Jersey.
The potential deal between BetParx Sportsbook and Fanatics would be the latest attempt for Fanatics Sportsbook to make a major betting deal, as the company was looking towards collaborating with Tipico Sportsbook just last year.
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Do you know the difference between American & European styles of Roulette? 🤔#GamblingTwitter #Trivia #Casino pic.twitter.com/vB15zytwAH
— betPARX (@betPARX) January 20, 2023
Fanatics Sports Book Opens At FedEx Field
The news of a potential Fanatics acquisition of BetParx Sportsbook comes hot off the heels of the opening of the retail Fanatics Sportsbook at FedEx Field, the home field of the Washington Commanders.
The wagering lounge is fully open, and is the first Maryland sports betting platform to open a retail sportsbook inside of a stadium. While mobile sports betting is also live in the state of Maryland, Fanatics Sportsbook hasn’t gotten approval to launch in the state yet.
Although the retail sports betting lounge is up and running, fans won’t be able to place bets at the location during Commanders home games. This is due to NFL rules that prohibit any in-stadium wagering on the days of games. However, the betting lounge will still be available for Washington Commanders fans to visit on game days.
Thrilled to officially open our doors @FedExField and provide the ultimate fan experience to sports fans throughout the DMV 🤩 #FanaticsSportsbook pic.twitter.com/PKOnDosLZt
— Fanatics (@Fanatics) January 20, 2023
Fanatics Sportsbook Entering Crowded Space
Both Fanatics Sportsbook and BetParx Sportsbook are in one of the most competitive modern industries when it comes to online sports betting. The current mobile betting industry is a bit top heavy, with Caesars Sportsbook, DraftKings Sportsbook, FanDuel Sportsbook, and BetMGM Sportsbook being the biggest sports betting operators in the U.S. in terms of market share.
But there are plenty of other major mobile betting apps live across the country, such as BetRivers Sportsbook, SI Sportsbook, PointsBet Sportsbook, Betr Sportsbook, Bet365 Sportsbook, and WynnBET Sportsbook.
Although Fanatics Sportsbook is expecting a major launch, some fairly new online sportsbooks have had a tough time getting off the ground. In fact, mobile betting apps such as Fubo Sportsbook, MaximBet Sportsbook, and TwinSpires Sportsbook have recently begun exiting the industry altogether.
The attempted deals with Tipico Sportsbook and BetParx Sportsbook might reflect Fanatics Sportsbook’s intentions to compete with other sports betting operators for the long haul.
