Fanatics Betting & Gaming (FBG) has been approved to launch online sports betting and online casino gaming in Ontario’s regulated iGaming market.
The Alcohol and Gaming Commission of Ontario (AGCO) issued licenses for Fanatics Sportsbook and Fanatics Casino on Tuesday, Aug. 11. The operator must now execute an operating agreement with the provincial iGaming conduct-and-manage agency, iGaming Ontario (iGO), before it can start taking bets.
Canadian Gaming Business reached out to FBG for more information on the licensure and the company’s launch plans, but had not received a response as of the time of writing.
Fanatics the last big US absence from Ontario
Until now, Fanatics has abstained from entering the Canadian online gambling market despite rapidly growing its U.S. operations after acquiring PointsBet USA in 2023.
The company offers online sports betting in 23 states plus Washington, D.C., and most recently launched online and retail sports wagering in Missouri last December when the state opened up to commercial sportsbooks. Some industry analyses estimate that it ranks third in the U.S. by overall aggregated sports betting market share, behind leaders FanDuel and DraftKings but ahead of BetMGM.
In addition, Fanatics also offers iCasino in four states:
- Michigan
- New Jersey
- Pennsylvania
- West Virginia
An affiliated Fanatics Markets prediction markets platform also operates in a total of 23 U.S. states in which it does not offer state-regulated sports betting or casino gaming.
Soon, Ontario will be its 25th online sports betting market in North America and the fifth in which it offers both sports wagering and iCasino.
Fanatics joins growing list in Ontario
Whenever it hits the Ontario market, Fanatics will join its major U.S. market competitors in the province.
Ontario’s regulated market hosts almost 50 operators running more than 80 licensed sites, including numerous big names of American online gambling such as:
- Bally’s
- bet365
- BetMGM
- Caesars
- DraftKings
- FanDuel
- PENN Entertainment’s theScore Bet
- Rush Street Interactive’s BetRivers
Another growing American operator, Hard Rock Digital, launched Hard Rock Bet in Ontario’s market in late July.
Although it has not been licensed to operate in Ontario until now, Fanatics Betting & Gaming Chief Operating Officer Scot McClintic told Canadian Gaming Business as far back as late 2024 that Canadian expansion was on the company’s roadmap.
“We definitely want to be in Canada,” McClintic said in an interview in December 2024. “Will we be in Canada? Yes. It’s all just a timing question … Canada is definitely on the docket.”
Fanatics goes international
McClintic added at that time that the company would explore international expansion outside the U.S. after cementing its status as one of the top challengers to the market leaders FanDuel and DraftKings south of the border.
“There will be a time in the very near future where we’ll say, ‘OK, this product is now ready to a point where we can simultaneously continue to push it forward and then also expand internationally’,” he told Canadian Gaming Business. “Let’s make sure we continue to nail the basics, then nail the series of features we’re going to roll out. Then, once we’re at that point, go international, including Canada.”
Earlier this summer, Fanatics finally took that step, signing on as the new platform provider for the United Arab Emirates Lottery and the country’s first approved iGaming site, Play 971.
That UAE venture is a B2B operation, whereas Fanatics is bringing its B2C sportsbook and casino platforms to Ontario.
How will Fanatics fare in Ontario iGaming?
Historically a sports apparel and merchandise company, Fanatics calls itself “the first true sports brand” to enter the sports betting space.
The parent company has a stacked roster of Canadian or Canada-adjacent sports league and team partners, including:
- Canada Basketball
- Canada Soccer
- Hockey Canada
- Major League Baseball and the Toronto Blue Jays
- Major League Soccer and its three Canadian teams
- The NBA and the Toronto Raptors
- The NHL and its various Canadian franchises
iGaming Ontario does not break down its revenue reporting by individual operator, and companies do not tend to share exact market share estimates for the province. But Fanatics’ U.S. growth and its brand recognition mean the company will likely be confident of making a sizable dent in the most competitive online gambling market in North America.
It is uncertain whether Fanatics Betting & Gaming has also applied to enter Alberta, which opened its own sports betting and online casino market last month. It is not listed as a registrant with Alberta Gaming, Liquor, and Cannabis (AGLC) as of the time of writing.
