Home > Sports betting > Fanatics continues PointsBet US takeover with West Virginia launch

Fanatics continues PointsBet US takeover with West Virginia launch

| By Robert Fletcher
The Fanatics Betting and Gaming (FBG) subsidiary of Fanatics Holdings has announced the launch of its online sportsbook in West Virginia, with customers in the Mountain State switching over from the existing PointsBet platform.
Fanatics PointsBet West Virginia

West Virginia consumers can now download the Fanatics Sportsbook app and begin placing bets. 

Fanatics Betting and Gaming (FBG) will also pilot its new online casino in West Virginia, with this being embedded in the Fanatics Sportsbook app. The product features a range of slot titles and table games such as roulette and blackjack.

The Fanatics Sportsbook replaces the existing PointsBet brand in the state. Players registered with PointsBet in West Virginia will be automatically migrated to the Fanatics Sportsbook. 

Existing PointsBet users can login to the Fanatics Sportsbook using their original credentials. The migration includes their username, password, account balance, rewards points and responsible gaming settings.

Fanatics edging closer to full PointsBet US acquisition 

This forms part of a wider initiative after FBG in June agreed to acquire the US operations of Fanatics. The $225.0m (£181.2m/€207.3m) deal was approved by PointsBet shareholders later in the same month.

In October, FBG completed the acquisition of its operations in New York and Wyoming. This moved FBG closer to taking full control of the PointsBet US business.

PointsBet in September was also approved for acquiring PointsBet US in eight other states, including West Virginia. The other states comprised New Jersey, Pennsylvania, Colorado, Iowa, Kansas, Maryland and Virginia.

Transfer of additional US state operations to FBG will take place as approvals are secured in each state. PointsBet previously said subsequent completions in other markets are tracking as planned.

PointsBet will continue to operate in Illinois, Indiana, Louisiana, Michigan and Ohio until FBG closes on selected states individually.

Fighting off competition to secure PointsBet deal

The process to acquired PointsBet US was far from plain sailing for FBG. 

It initially reached an agreement to purchase PointsBet US for $150.0m back in May. This looked to be progressing as planned until DraftKings in June submitted a higher proposal worth $195.0m. 

PointsBet at the time said it would engage with DraftKings over what it said could be a “superior” proposal. This ultimately forced FBG’s hand and it returned with the improved $225.0m offer. 

DraftKings eventually dropped out of the process, with FBG agreeing terms on the improved deal.

Fanatics partners Paysafe for sportsbook payments

As for wider developments, FBG this week also agreed a major sportsbook partnership with Paysafe.

Under the deal, Paysafe will offer Fanatic’s customers’ traditional card payments and other alternative payment methods across five US states. These include Kentucky, Maryland, Massachusetts, Ohio and Tennessee.

Players in each state can deposit and withdraw using debit cards and APMs as well as Paysafecash, the barcode-based online cash solution.

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