Fanatics, a prominent sports merchandise company, has revealed its intention to eventually incorporate collectibles, including Topps trading cards, into its sports betting loyalty program.
The Fanatics Sportsbook rewards program will include collectibles in the future. Fanatics recently launched its mobile betting app in Maryland, Massachusetts, Ohio, and Tennessee.
The spokesperson stated that FanCash, the company’s loyalty program currency, could potentially be integrated across the entire Fanatics ecosystem in the future. This could enhance the rewards program and enrich the overall fan experience. However, there are currently no immediate plans to introduce the collectibles aspect.
Presently, the FanCash loyalty program enables Fanatics sports betting customers to convert earned FanCash into bonus bets or merchandise at a one-to-one ratio. Betting enthusiasts can earn 1% on regular or straight wagers, 3% on parlays, and 5% on same-game parlays.
Distinguishing collectibles as unique rewards
Customer loyalty programs have proven popular among sports bettors and casino enthusiasts, offering rewards for their patronage. While land-based casinos have integrated such programs effectively, digital platforms like DraftKings, Fanatics, and FanDuel must offer distinct incentives due to the absence of physical casinos. Fanatics has pioneered this approach by enabling clients to redeem their FanCash for apparel and merchandise. The addition of collectibles aligns with this unique strategy.
Fanatics acquired Topps Sports & Entertainment, an esteemed brand in the sports card industry, with a $500 million investment in January 2022. This step underscored Fanatics’ commitment to establishing a significant presence in this arena.
Recognizing the potential synergy between collectibles and sports wagering, Fanatics’ plan to incorporate collectibles into the FanCash scheme seems to be strategically sound.
What’s in it for sports bettors and collectors
Some collectors are also enthusiastic about sports betting, and projections suggest the sports card segment could grow to a $99 billion industry by 2027. With its extensive reach and strong brand recognition, Fanatics is well-positioned to become a prominent player in both the collectibles and betting spheres.
Fanatics’ existing partnerships with various international sports teams and leagues, along with its unique rights to entertainment properties, further bolster its collectibles initiative. The upcoming launch of “Fanatics Live,” expected later in 2023, aims to transform the digital shopping experience through personality-driven content and entertainment.
Fanatics holds licensing agreements with major sports leagues such as MLB, NFL, and NBA, along with their respective players’ associations. These agreements enable the company to create both digital and physical cards and collectibles. Fanatics’ founder, Michael Rubin, is also a dedicated collector with decades of experience in the sports cards market.
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