Fanatics launches in New York

The firm also announced the launch in Michigan and Indiana this week.

US.- Fanatics Betting and Gaming has launched Fanatics Sportsbook in New York, its 15th state. The firm also announced launches in Michigan and Indiana this week.

In August 2023, Fanatics Betting and Gaming began acquiring the US businesses of PointsBet and planning the migration of customers to the Fanatics Sportsbook app. Each PointsBet customer’s username, password, account balance, rewards points and responsible gaming settings will be migrated automatically.

Fanatics Betting and Gaming has signed a long-term partnership agreement with the National Hockey League (NHL)’s Carolina Hurricanes. The firm becomes the team’s Official Sports Betting Partner and secure market access for its online sports betting platform, Fanatics Sportsbook, pending licensing and regulatory approvals.

With the launch of regulated online sports wagering in North Carolina scheduled for March 2024, the partnership gives Fanatics Sportsbook access to the state’s market, and the opportunity to put a retail sportsbook at the PNC Arena.

New York contributes more than 37% of all US sports betting tax

A study carried out by the United States Census Bureau has revealed that New York contributes more than 37 per cent of the total tax revenue generated from sports betting in the US. The Quarterly Survey of State and Local Tax Revenue (QTAX) recently added sports betting to the list of surveyed state and local tax revenue sources.

The study shows that in Q3 2023, sports betting generated national state-level sales tax and gross receipts of $505.96m, up 20.5 per cent from the same quarter in 2022, but down from $571.48m reported in Q2 2023. New York accounted for $188.53m, more than 37 per cent. Indiana, with $38.6m and Ohio, with $32.9m, followed.

See also: New York breaks online sports betting revenue record in January