Key Takeaways
- Fanatics CEO Michael Rubin told Bloomberg the company could spend up to $1 billion on sportsbook advertising in 2027.
- That figure is nearly triple the roughly $350 million Fanatics expects to spend on betting ads in 2026.
- Rubin estimates Fanatics holds about 10% of the US sports betting market and wants to reach No. 1.
Fanatics is preparing to outspend its way into the top tier of US sports betting. CEO Michael Rubin told Bloomberg the company could put as much as $1 billion into sportsbook advertising in 2027. That would be nearly three times the roughly $350 million it expects to spend this year.
The goal is to close the gap on DraftKings and FanDuel, which control most of the regulated US sportsbook market.
Rubin Puts a Price Tag on Catching the Leaders
Rubin’s plan is simple to describe, but expensive to run. Fanatics wants to become the top US sportsbook operator, the same spot it holds in licensed merchandise and apparel.
Advertising is the lever Rubin plans to pull hardest. The 2027 budget would nearly triple what Fanatics spends on betting ads this year.
The timing is notable. Rubin told Bloomberg the sports gambling business got more difficult over the past year. He plans to raise spending anyway. Rubin wants to spend up to $1 billion in sportsbook advertising, which is up from $350 million in 2026.
How Fanatics Can Afford a Billion-Dollar Push
A billion-dollar ad budget needs deep pockets. Fanatics has a balance sheet built to absorb it.
The company is privately held and carries no debt. Fanatics is on pace for $2 billion in free cash flow and $1 billion in net cash this year. Its private valuation sits at $31 billion.
Being private also changes the math. Fanatics doesn’t face quarterly pressure from Wall Street over its marketing spend. That gives Rubin more freedom to spend heavily on growth.
That contrast is sharper right now. DraftKings stock hit a three-year low last week.
Chasing the DraftKings and FanDuel Duopoly
Fanatics took a step closer to DraftKings and FanDuel in August, when it became an official sportsbook partner of the NFL alongside both rivals.
The competitive landscape is also shifting at the top. Fanatics is making its move as the leaders face changes of their own. FanDuel recently went through a leadership change at the CEO level.
Fanatics still has gaps in its footprint. It isn’t available in every regulated market. In Oregon, for example, the only regulated mobile sportsbook belongs to the Oregon Lottery and runs on DraftKings.
Prediction Markets and Marketing Scrutiny Add Pressure
Sportsbooks are no longer the only competition. Fanatics acquired a regulated exchange and clearinghouse for its prediction market platform. Rubin called prediction markets a new competitive dynamic and said he expects regulatory shifts.
More advertising also means more responsibility. Fanatics was fined in Colorado after its marketing reached a self-excluded bettor. A far larger ad budget makes responsible targeting even more important.
A bigger budget doesn’t guarantee results, either. Ad spend alone won’t necessarily close the gap. Operators are focused on customer acquisition costs, retention, and profitability.
Why This Matters for Sports Bettors
A $1 billion marketing war usually means more competition for your account. If Fanatics follows through, expect more ads, more sign-up offers, and pressure on DraftKings and FanDuel to respond.
That can work in your favor, but only if you compare promos carefully. Read the terms, check rollover requirements, and judge each book on odds, markets, and payouts. Flashy commercials tell you nothing about any of that.
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