Fanatics Expands Into Cards And Betting

Fanatics is turning low frequency jersey buyers into a year round sports spending loop. A fan can buy a jersey, earn FanCash, use the same brand to rip packs, watch live card breaks, and place bets, which matters because collectibles and gaming carry faster growth and create more repeat touchpoints than apparel. The shift also makes Fanatics look less like a retailer and more like a consumer sports network with commerce attached.

• Collectibles is no longer an adjacency, it is a second core engine. Fanatics bought Topps, regained the NBA license in October 2025, and regained NFL rights in April 2026. That gives it official cards across the biggest U.S. leagues, plus live commerce through Fanatics Live and European reach through Voggt.
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• Gaming gives Fanatics a higher frequency product than merch. Sportsbooks can talk to customers every game day, not just when a team makes a playoff run or drops a new jersey. Fanatics says its sportsbook now reaches 95% of the U.S. online betting market, and its core advantage is using an existing fan database and FanCash loyalty instead of paying pure sportsbook CAC.
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• The clearest comparable is DraftKings and FanDuel. Both started with one sports product and expanded wallet share over time. Fanatics is running the playbook in reverse, starting with commerce and layering in cards and betting, which means it can monetize casual fans before they become dedicated bettors or collectors.
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The next phase is deeper integration across these verticals. Expect more products that connect merch, cards, media, live shopping, and wagering into one account and one rewards system. If that works, Fanatics can keep shifting revenue mix away from slower growing apparel and toward businesses with more transactions, better data, and stronger customer lock in.