Fanatics Sportsbook to Take Over Connecticut Sports Betting Market

In a strategic move, Fanatics Sportsbook will replace Rush Street Interactive (RSI), the former sports betting partner of the Connecticut Lottery. The transition is scheduled for mid-December, following the winding down of the RSI partnership earlier this year. The deal underscores Fanatics' growing influence in the US sports betting landscape.

The acquisition of PointsBet US by Fanatics Brands Group (FBG) for $225.0 million marked a pivotal moment. Despite facing a competitive bid from DraftKings, FBG secured the deal, leading to the integration of Fanatics Sportsbook in various states, including Maryland, Massachusetts, Ohio, and Tennessee. This move solidified FBG's position as a major player in the rapidly evolving sports betting market.

FBG's entry into Connecticut places it in direct competition with industry heavyweights DraftKings and FanDuel. DraftKings continues to dominate as Connecticut's leading online gaming operator, closely followed by FanDuel. Notably, ESPN Bet, operated by Penn Entertainment, faced a setback in launching in Connecticut due to tribal monopoly rules, favoring the Fanatics-Connecticut Lottery partnership.

Connecticut Governor Ned Lamont's approval of online sports betting in May 2021 paved the way for tribal involvement. Mashantucket and Mohegan tribes gained authorization to offer sports wagering, with the Connecticut Lottery granted rights for retail betting at 15 locations statewide. The FBG-Connecticut Lottery deal now positions Fanatics Sportsbook as a prominent player in the state's sports betting market.