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Fanatics Sportsbook Officially Launches with Retail Location in Maryland

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Fanatics Betting and Gaming, the online and retail sports betting division of the Fanatics digital sports platform, has become the first legal sports betting operator, in partnership with the Washington Commanders, to open a retail sportsbook inside an NFL Stadium. The Fanatics Sportsbook at FedExField in Maryland is the company’s first entry into the legal sports betting market, and it also represents the Commanders’ formal market access entry in Maryland.

“We are excited to bring the Fanatics Sportsbook to Maryland at FedExField. Our first retail location, with adjacency to the Commanders Team store, is a physical representation of what Fanatics will deliver to sports fans all over North America. We are rolling out our platform first at retail and we will have more exciting news to share in the coming months as we bring to market new mobile technology designed to improve the betting experience for sports fans,” Ari Borod, Chief Business Officer of Fanatics Betting and Gaming, said.

“When our journey began over two years ago, we knew we had to reinvigorate the guest experience at FedExField and open the campus to the community. Today is a special moment in realizing that vision as we open this innovative sportsbook, operating seven days a week for sports fans throughout our community. We owe a debt of gratitude to Former Governor Hogan, the Maryland Lottery and Gaming Control Agency, and numerous other elected leaders who supported our vision of an equity framework that will ensure minority participation in this venture; allowing us to do right by the community and the fans at the same time,” said Washington Commanders Team President Jason Wright.

The Washington Commanders serve as the market access partner for the Fanatics Sportsbook at FedEx Field, which provided the Commanders the opportunity to work directly with a Maryland-certified Minority Business Enterprise (MBE), Hamilton Hall Real Estate Partners, LLC (Hamilton Hall), led by hospitality entrepreneur and fund manager Charles Hopkins.

“It is a special day to see the vision for legal sports wagering advocated by Maryland’s legislative leaders come to fruition here in Prince George’s County. As a native Prince Georgian and minority business owner with deep expertise in hospitality, gaming and commercial retail, I am honored to join forces with the Washington Commanders and Fanatics Betting and Gaming to offer a best-in-class sports betting experience. I am also grateful to Dan and Tanya Snyder for their leadership and commitment to diversity, equity and inclusion at all levels of the sports betting business in Maryland,” said Charles Hopkins, Founder and Managing Principal, Hamilton Hall Real Estate Partners LLC.

The first official bet at a Fanatics Sportsbook was placed by Commanders 2022 Fan of the Year Chris Bryant. He wagered $20 @ +167 on a hometown Moneyline parlay featuring the Washington Wizards and the Washington Capitals to win their next matchups. Chris, a military veteran, has missed only a handful of Commanders games in the last 10 years including away games. On game days, Chris can be found in the FedExField parking lot decked out in his Hogfarmers signature look, which features burgundy-and-gold striped overalls and the notable “pig hardhat”.

The newly designed sportsbook is 5000 square feet and features eight betting windows, 21 self-service betting kiosks, 2 giant LED Video Walls, 38 TV monitors, and a full-service restaurant with food options that every sports fan will enjoy.

The Fanatics Sportsbook will stand alongside the Washington Commanders Team Store, which is operated by Fanatics, building a true Super Fan experience. Now in one location, fans will be able to place a sports wager, buy team merchandise and watch a game in the ultimate sports atmosphere.

Industry News

The Massachusetts Gaming Commission Releases February 2024 Casino and Sports Wagering Revenue

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The Massachusetts Gaming Commission reported that the month of February 2024 at Plainridge Park Casino (PPC), MGM Springfield (MGM) and Encore Boston Harbor (EBH) generated approximately $100.57 million in Gross Gaming Revenue (GGR).

Additionally, approximately $52.55 million in taxable sports wagering revenue (TSWR) was generated across the eight mobile/online sports wagering licensees and the three in-person licensees for the month of February.

Gross Gaming Revenue (Casino Gaming)

PPC, a category 2 slots facility, is taxed on 49% of GGR. Of that total taxed amount, 82% is paid to Local Aid and 18% is allotted to the Race Horse Development Fund. MGM Springfield and Encore Boston Harbor, category 1 resort-casinos, are taxed on 25% of GGR; those monies are allocated to several specific state funds as determined by the gaming statute.

To date, the Commonwealth has collected approximately $1.677 billion in total taxes and assessments from the casino operations of PPC, MGM and Encore since the respective openings of each gaming facility.

Sports Wagering Revenue

EBH, MGM, and PPC are licensed as Category 1 Sports Wagering Operators, which allows them to operate a retail sportsbook at their respective property. Category 1 operators are taxed on 15% of TSWR.

BetMGM, Betr, Caesars Sportsbook, DraftKings, Fanatics Betting & Gaming, FanDuel, Penn Sports Interactive, and WynnBet are licensed as Category 3 Sports Wagering Operators, which allows them to operate a mobile or online sportsbook. Category 3 operators are taxed on 20% of TWSR.

Of the total taxed amount for all operators, 45% is allotted to the General Fund, 17.5% to the Workforce Investment Trust Fund, 27.5% to the Gaming Local Aid Fund, 1% to the Youth Development and Achievement Fund, and 9% to the Public Health Trust Fund.

To date, the Commonwealth has collected approximately $118.56 million in total taxes and assessments from the sports wagering operations of licensed operators since sports wagering began in person on January 31, 2023 and online on March 10, 2023.

When an operator’s adjusted gross sports wagering receipts for a month is a negative number because the winnings paid to wagerers and excise taxes paid pursuant to federal law exceed the operator’s total gross receipts from sports wagering, the Sports Wagering Law allows the operator to carry over the negative amount in tax liability to returns filed for subsequent months.

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Compliance Updates

Arizona Department of Gaming Announces Allocation for Event Wagering License for Fanatics

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The Arizona Department of Gaming (ADG) announced that it has allocated an event wagering operator license to Fanatics Betting and Gaming as the designee for Tonto Apache Sports Betting, an organization of the Tonto Apache Tribe, pursuant to A.R.S. § 5-1304 and A.A.C. R19-4-105 and 106.

On January 16, 2024, ADG announced that it would begin accepting applications for available event wagering licenses, which included one event wagering license reserved for Arizona Tribes and no less than one event wagering license reserved for Arizona Sports Franchises, as defined in A.R.S. § 5-1301(7).

The application window for event wagering licenses opened on February 16, 2024, and closed on March 4, 2024. Applicants were required to submit their completed applications within this timeframe in order to have been considered for an event wagering license.

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Latest News

The most comprehensive racing app announces US Racing coverage roll-out

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Continuing its promise to offer racing fans the most extensive, user-friendly and unrestricted racing coverage unlike anything else on the market, The Racing App – created by Quantum Leap Solutions in partnership with premium UK bookmaker Fitzdares – has bolstered its product offering with a best-in-class roll-out of US racing coverage.

US racing fans can now enjoy a premium level of content and insights to provide them with a large suite of information including full form details with past performance ratings, in-house horse-by-horse comments, market charts, value prices, form visualisers and tips. Another exciting feature is Compute, a simple-to-use unique tool offering punters a meaningful way of solving the puzzle of horse racing by quantifying at-a-glance the key factors likely to determine the outcome of a race to generate a set of “true” prices based on the data.

All this alongside some of the finest expert insight in the US racing sphere including access to The Nick Luck Daily Podcast, to which The Racing App is a proud sponsor of its US Racing segment in its quest to help UK punters make more informed decisions ahead of key US meetings. Regular analysis from respected broadcaster Cornelius Lysaght is also included.

Unlike any other known content provider in the UK and in the US, The Racing App also offers a video form guide for each upcoming US race, as well as access to live US race streams and replays.

Users can also take advantage of the app’s innovative interactive analysis tools including Speedform and unique visual Draw Charts. Through cutting-edge race simulation graphics, Speedform allows users to gain a greater understanding of how horses are expected to run not just in general but at specific sections of each race, based on speed ratings adapted from par times and conditions allowances.

In development for release later this year, users will also soon be able to select specific previous runs to feature in Speedform visuals and delve deeper into Draw Charts to see how different riding tactics affect the impact of the draw – with The Racing App showing no signs of pulling up.

Ian Heaney, CEO of Quantum Leap Solutions, said: “We’ve crammed top quality content and unique insight into one best-in-class app, something that shows how The Racing App really is the pinnacle of products for racing fans. There’s more to come too, including some even better upgrades to Speedform we’re excited to launch later this year.”

“Our benchmark for making a race interesting is the level of content and insight we offer for

British and Irish racing and we have now delivered that and more for US racing fans.”

Will Woodhams, Fitzdares CEO, said: “The concept that US racing is complicated to follow is now a myth with what The Racing App is capable of providing. Many racing fans feel they’ve never had enough data – now they have a full suite of it. In fact, with the insight and new interactive elements combined with the conformity of US racing, it’s actually a simpler puzzle to solve than UK racing and you could not ask for a more complete tool to aid your racing experience.

“To racing fans I say enjoy – and take advantage of the best racing service at your fingertips to back US winner after US winner.”

Relaunched in November 2023, The Racing App already gives racing fans a free, unrivalled one-stop-shop for their racing needs including live race streaming and all UK and Irish replays, cutting-edge data analytics, unique predictor algorithms, and world-class integrated race cards to provide racing fans with the latest and greatest data in seconds. The app also provides access to an integrated betting platform through Fitzdares.

The Racing App is available to download for free in the iOS and Android App Store. Search ‘The Racing App’ to download now.

US Racing content is available to all users with the exception of those based in the US due to local data rights.

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