burdensome for DraftKings<\/a> because that operator aims to break even by the end of this year with an eye toward profitability in 2024. A major contributor to the increasingly ebullient profit forecasts across the sports betting industry has been operators slashing promotional spending.<\/p>\n<\/div>\nBottom line: Fanatics is a potential problem for FanDuel and DraftKings. The extent isn\u2019t yet known but will play out in real-time.<\/p>\n
\u201c(DraftKings and FanDuel) are now faced with at least two stalking second movers in Fanatics and bet365\u2014both of which have deep pockets, a good product (a proven one in the case of bet365), and a long-term commitment to the market,\u201d concluded EKG. \u201cThey are also ramping up at a time when the U.S. OSB market\u2014characterized by homogeneous products and a softening competitive landscape\u2014is ripe for disruption.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"
Fanatics announced Sunday that it\u2019s paying $150 million in cash for PointsBet\u2019s (OTC: PBTHF) US operations in a deal that provides the buyer with access to more than a dozen states. That means Fanatics doesn\u2019t have to wait for often slow-moving regulators to approve new license applications. With time often being of the essence in […]<\/p>\n","protected":false},"author":46,"featured_media":253587,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[10,19,1,1074],"tags":[81903,81931,81967,80968],"acf":[],"yoast_head":"\n
Fanatics Represents Budding Problem For DraftKings, FanDuel<\/title>\n\n\n\n\n\n\n\n\n\n\n\n\n\n\t\n\t\n\t\n\n\n\n\n\n\t\n\t\n\t\n