DraftKings and Fanatics Battle to Buy PointsBet in the US

DraftKings and Fanatics are engaged in a bidding war to buy the US assets of the PointsBet online sportsbook. While Fanatics are still considered to be the brand most likely to take over PointsBet’s foothold in the US, DraftKings recently made a higher bid that outstripped that of its rival.

Fanatics is desperate to enter the lucrative sports betting market in the US and saw the purchase of PointsBet as a cost-effective way of doing it. This is because Fanatics would take over the licensing that PointsBet already has to operate in states of Colorado, Illinois, Indiana, Iowa, Kansas, Louisiana, Maryland, Michigan, New Jersey, New York, Ohio, Pennsylvania, Virginia and West Virginia.

Award

BetMGM Promo

Up To $1500 in Bonus Bets Paid Back if your First Bet Does Not Win

Get bonus now

Gambling problem? Call 1-800-GAMBLER (Available in the US) Call 877-8-HOPENY or text HOPENY (467369) (NY) Call 1-800-327-5050 (MA) 21+ only. Please Gamble Responsibly. Call 1-800-NEXT-STEP (AZ), 1-800-BETS-OFF (IA), 1-800-981-0023 (PR). Rewards are non-withdrawable bonus bets that expire in 7 days. In partnership with Kansas Crossing Casino and Hotel. See BetMGM.com for Terms. US promotional offers not available in DC, Mississippi, New York, Nevada, Ontario, or Puerto Rico.

Award

Fanatics Promo

Bet $50, Get $300 in FanCash

Get bonus now

Must be 21+. GAMBLING PROBLEM? CALL 1-800-GAMBLER or 1-800-522-4700, Home (MD), (800)-327-5050 or MA Gambling Helpline (MA), Call (877)8-HOPENY or text HOPENY (467369) (NY), or Call 1-800-NEXT-STEP or text NEXTSTEP to 53342 (AZ), (888) 789-7777 or CONNECTICUT COUNCIL – ON PROBLEM GAMBLING (CT), or 1-800-9-WITH-IT (IN), If gambling is more than a game, free help is available . . . – NCDHHS Problem Gambling (NC). New customers in AZ, CO, CT, DC, IA, IL, IN, KS, KY, LA, MA, MD, MI, MO, NC, NJ, NY, OH, PA, TN, VA, VT, WV, or WY. Must opt-in and wager $10+ cash on any market with odds of -500 or longer to receive $100 in FanCash each day for your first 3 days (issued when qualifying wager settles). Your 3 days begin the day you establish your account. FanCash rewards expire at 11:59 p.m. ET 7 days from issuance. Terms, including FanCash terms, apply – see Fanatics Sportsbook app.

Award

Bet365 Promo

Bet $5 & Get $200

Get bonus now

Whatever the moment. It’s Never Ordinary at bet365. That’s why if you sign up now you will receive $200 in Bonus Bets Win or Lose when you bet $5! Minimum $10 deposit required. Minimum odds -500 of greater. Bonus Bets wager excluded from returns. New customers only. T&CS, time limits and exclusions apply. GAMBLING PROBLEM? CALL OR TEXT 1-800-GAMBLER (AZ/CO/IL/IN/KS/KY/LA/MD/NC/NJ/OH/PA/TN/VA) or 1-800-BETS OFF (IA). 21+ (18+ KY). Must be present in AZ/CO/IA/IL/IN/KS/KY/LA (select parishes)/MD/NC/NJ/OH/PA/TN/VA.

Award

FanDuel Promo

Bet $5 Get $300 in Bonus Bets If Your Bet Wins!

Get bonus now

Gambling Problem? Call 1-800-GAMBLER or visit RG-help.com. Call 1-888-789-7777 or visit ccpg.org/chat (CT). Hope is here. GamblingHelpLineMA.org or call (800) 327-5050 for 24/7 support (MA). Visit www.mdgamblinghelp.org (MD). Call 1-877-HOPE-NY or text HOPENY (467369) (NY). 21+ (18+ DC, KY and present in select states for KS in affiliation with Kansas Star Casino). First online real money wager only. $5 first deposit required. Bonus issued as nonwithdrawable bonus bets which expire 7 days after receipt. Restrictions apply. See terms at sportsbook.fanduel.com.

Could Fanatics lose out to DraftKings?

For a while, it looked increasingly likely that Fanatics would purchase PointsBet and the Australian sportsbook seemed ready to approve the offer of $150 million. However, DraftKings has put in a last minute offer of $195 million that will now be explored further by the board at PointsBet.

Such an aggressive move has already had a positive effect on the PointsBet stock price, although the Australian brand has made tentative steps to engage further with the DraftKings bosses. This will be done in a bid to appease the increased scrutiny that a purchase by a heavyweight brand such as DraftKings would bring.

Prior to the DraftKings bid, the majority of PointsBet shareholders had made public their recommendations for accepting the offer from Fanatics. However, with DraftKings now backing their interest with a big money bid, it could complicate matters for Fanatics to make a hoped-for simple entry into the US betting landscape.

Fanatics has made no secret of its bid to enter the sports betting realm. The company has already proven to be a massive success in the apparel business, and made its first steps into the betting domain with the purchase of the Amelco source code. This would be used to power its betting platform, and the next step would be to access the market.

With PointsBet struggling for market share, Fanatics bosses had seen the purchase of the Australian sportsbook’s US assets as a way of saving money on the licensing fees that PointsBet had previously paid.

PointsBet initially made some aggressive moves in the fledgling US sports betting market when it launched in 2018. But while the brand had proven to be a big success in Australia, it found it hard to compete with larger sportsbooks such as FanDuel and DraftKings who already enjoyed brand visibility while being backed with greater capital.

As such, the PointsBet bosses seem to be ready to cut their losses and accept an offer for a purchase of its assets. The current plan is that an offer is likely to be accepted over the next three weeks, but this will all depend on how the negotiations between PointsBet and DraftKings go. But with Fanatic still the favorite to deal the deal, it looks like US sports fans could soon be welcoming a brand new online sportsbook.

4.8/5

Bet365 Review

Bet $5 & Get $200

Bet now

Whatever the moment. It’s Never Ordinary at bet365. That’s why if you sign up now you will receive $200 in Bonus Bets Win or Lose when you bet $5! Minimum $10 deposit required. Minimum odds -500 of greater. Bonus Bets wager excluded from returns. New customers only. T&CS, time limits and exclusions apply. GAMBLING PROBLEM? CALL OR TEXT 1-800-GAMBLER (AZ/CO/IL/IN/KS/KY/LA/MD/NC/NJ/OH/PA/TN/VA) or 1-800-BETS OFF (IA). 21+ (18+ KY). Must be present in AZ/CO/IA/IL/IN/KS/KY/LA (select parishes)/MD/NC/NJ/OH/PA/TN/VA.

4.5/5

BetMGM Review

Up To $1500 in Bonus Bets Paid Back if your First Bet Does Not Win

Bet now

Gambling problem? Call 1-800-GAMBLER (Available in the US) Call 877-8-HOPENY or text HOPENY (467369) (NY) Call 1-800-327-5050 (MA) 21+ only. Please Gamble Responsibly. Call 1-800-NEXT-STEP (AZ), 1-800-BETS-OFF (IA), 1-800-981-0023 (PR). Rewards are non-withdrawable bonus bets that expire in 7 days. In partnership with Kansas Crossing Casino and Hotel. See BetMGM.com for Terms. US promotional offers not available in DC, Mississippi, New York, Nevada, Ontario, or Puerto Rico.

4.4/5

FanDuel Review

Bet $5 Get $300 in Bonus Bets If Your Bet Wins!

Bet now

Gambling Problem? Call 1-800-GAMBLER or visit RG-help.com. Call 1-888-789-7777 or visit ccpg.org/chat (CT). Hope is here. GamblingHelpLineMA.org or call (800) 327-5050 for 24/7 support (MA). Visit www.mdgamblinghelp.org (MD). Call 1-877-HOPE-NY or text HOPENY (467369) (NY). 21+ (18+ DC, KY and present in select states for KS in affiliation with Kansas Star Casino). First online real money wager only. $5 first deposit required. Bonus issued as nonwithdrawable bonus bets which expire 7 days after receipt. Restrictions apply. See terms at sportsbook.fanduel.com.