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Fanatics could spend as much as $1 billion on advertising as it tries to gain ground in U.S. sports betting, according to comments CEO Michael Rubin made to Bloomberg that were reported by TheLines. Rubin said the company wants to become “number one” in the sector, where Fanatics is still trailing leaders DraftKings and FanDuel.
The report says Fanatics currently spends about $350 million on gambling advertising and plans to double that in 2027, with Rubin indicating the total could go even higher. Fanatics launched its online sportsbook in 2023 and is now active in 23 states, according to the article.
Fanatics is backing its betting push with broader company cash flow
Rubin said Fanatics expects to generate $2 billion in free cash flow this year and reach $14 billion in overall revenue. That wider business base appears central to how the company could support a much larger push in sports betting marketing than it does today.
TheLines also reported that Fanatics has about a 10% share of the U.S. market. In addition to its sportsbook, the company operates an online casino in four states.
Product features and prediction markets are part of the growth strategy
Fanatics has also been emphasizing product differentiation as it looks to grow. The company points to features such as Fair Play, which insures losing prop bets tied to players who leave games because of injury, and FanCash, which can be used on the site or on merchandise and cards.
The article also notes that Fanatics Markets, launched in 2025, is available nationwide, including in Texas and Georgia. That places the company in the broader prediction market conversation alongside names including Kalshi and Polymarket, even as its main sportsbook business remains tied to state-by-state regulation.
For bettors, the immediate takeaway is not a product launch or a market-access change, but a sign that competition among major operators remains intense. What to watch next is whether Fanatics’ heavier ad spending translates into a larger footprint or more market share in the states where it already operates.
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Source: As reported by Jon Young.
