Fanatics plans up to $1bn betting blitz in 2027 to chase FanDuel
Fanatics CEO Michael Rubin tells Bloomberg the company is chasing FanDuel & DraftKings with a bigger marketing budget.
The hit
Fanatics could spend $800m to $1bn on betting & gaming marketing in 2027, CEO Michael Rubin told Bloomberg. The jump from this year’s $350m is aimed at closing the gap with FanDuel & DraftKings while fending off prediction market rivals Kalshi & Polymarket.
Why it matters
A $1bn marketing budget would equal half of Fanatics’ projected 2026 free cash flow. Rubin said per-state revenue has hit a wall in fully regulated states like Pennsylvania & New Jersey, new states are regulating slower than expected & prediction markets “come out of nowhere.”
The record
| 2027 marketing budget | $800m-$1bn, up from $350m this year (Fanatics, via Bloomberg) |
|---|---|
| 2026 free cash flow | about $2bn expected (Fanatics) |
| 2026 revenue | about $14bn, up 40% year on year, with $2bn from betting (Fanatics) |
| Market share | 10% of the betting market since 2023 entry (Rubin) |
| Georgia betting bill | H.R. 450 failed 63-98 in the House in March |
| Fanatics Markets launch | December 2025, access to markets including California, Florida, Georgia & Texas |
What happens next
Watch for Fanatics’ actual 2027 marketing rollout & whether FanDuel, DraftKings, Kalshi & Polymarket respond with spending of their own.
Sources: Fanatics plans up to $1 billion betting marketing push in 2027
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