PointsBet is set to conclude its operations in Maryland within the coming weeks, as it decides to halt the acceptance of deposits and wagers on its platform.
While the cessation of new deposits and wagers is imminent, account holders will retain access to their dashboards for an extended period, allowing them to make withdrawals thereby emptying their accounts.
This was communicated to its Maryland user base through an email notification. According to the correspondence, the sportsbook is set to conclude its operations in the state, with the scheduled shutdown date announced as Feb. 1.
Consequently, users are advised that all deposits and wagering activities will be discontinued after Jan. 30.
The email further elaborated that, until March 12, all user accounts will continue to be accessible exclusively for withdrawal purposes. Additionally, the mail specified that individuals who had accrued rewards points would witness a seamless transition of these points into complimentary bets, ensuring continued utilization of the accumulated benefits.
This is coming months after the unexpected acquisition of PointsBet US by Fanatics Sportsbook, a move that took the industry by surprise.
Before the acquisition deal, Fanatics was briefly a competitor to PointsBet as it officially launched in June 2023. In the wake of this development, the online and retail sportsbook is actively planning to transition existing PointsBet users to the Fanatics platform, as suggested in the email correspondence.
Despite the absence of instructions or any explicit reference to Fanatics Sportsbook within the email from PointsBet, the prevailing assumption is that users are expected to voluntarily transition to Fanatics.
Virginia Transitioned from PointsBet to Fanatics
In November, Fanatics made a significant announcement heralding its entry into Virginia, stating its decision to replace PointsBet. This move marked the latest development in the dynamic landscape of the state’s betting scene, joining ESPN BET and SuperBook as the newest sportsbooks.
In a bid to streamline their services and provide a seamless experience for users, Fanatics Sportsbook communicated to bettors in Virginia that they can now access the Fanatics app using their existing PointsBet credentials.
Fanatics Sportsbook Pennsylvania Launches
On Monday, Fanatics Betting and Gaming announced the official launch of its sportsbook in Pennsylvania.
In an official press release, the operator revealed its commitment to customer convenience by facilitating the automatic migration of each PointsBet customer’s essential account details. This includes the seamless transfer of usernames, passwords, account balances, rewards points, and responsible gaming settings to the newly launched Fanatics Sportsbook in Pennsylvania.
The operator is significantly broadening its presence, resulting in an expansion of its portfolio to encompass a total of 11 states across the United States. As of now, the sportsbook operates in Maryland, Ohio, Kentucky, Pennsylvania, Colorado, Connecticut, Virginia, Massachusetts, West Virginia, Vermont, and Tennessee.
With its headquarters in New York, Fanatics Sportsbook boasts a network of 13 retail locations, setting itself apart as a unique sportsbook with a distinct edge. Notably, it takes pride in being the sole sportsbook with a dedicated location within an NFL stadium, at the iconic FedEx Field.
Six months after Fanatics’ introduction in Maryland, the sportsbook’s initial market presence represented less than 1% of the statewide handle.
However, by the conclusion of the year, Fanatics exhibited substantial growth, increasing its market share to 2.5%. This impressive progress positioned the sportsbook in the sixth position among the 12 mobile operators operating within the state.