They haven’t made the ultimate move, but the behemoth that the sports betting world is waiting for has taken another step: trademarking a brand.
On Monday, an online filing at the U.S. Patent and Trademark Office revealed that Fanatics, the largest sports-only licensed retailer in the world which also now owns Topps, is seeking to trademark the brand "BETFANATICS."
The trademark filing, first uncovered by trademark attorney Josh Gerben, asks for the name to be tied to all traditional betting services.
Fanatics chief commercial officer Ari Borod told Action Network that the brand name for their future sports betting company has not yet been determined, “but you can expect we would want to leverage the Fanatics name.”
As it becomes more clear that not all brands in sports betting will make it, there have many predictions as to who Fanatics would acquire, including Rush Street and PointsBet.
While nothing has been consummated, Fanatics has been busy building a team. Eleven months ago, it hired FanDuel CEO Matt King in a move that shocked many.
Sports Business Journal revealed last week that a LinkedIn search discovered 38 employees of Fanatics betting operations. An additional 40 jobs have been posted.
While Fanatics might be able to do a lot by itself, it’s believed the plan is to acquire a brand or two to help accelerate business entering the biggest markets years after opening.
After raising money at the latest valuation of $27 billion, Fanatics has the cash to make the move. It’s just a matter of when.
