Why Fanatics is Moving Away from Stadium Presence to Focus on Online Sports Betting – Unpacking the Decision
Transition from Stadium Action to Online Sports Betting: What to Know After Fanatics Sportsbook Shuts Down at Progressive Field
The permanent closure of the Fanatics Sportsbook at Progressive Field, home of the MLB Cleveland Guardians, marks a significant shift in how fans engage with their favorite teams. This move highlights a major transformation in the industry, as the traditional retail experience gives way to the massive surge in online sports betting across Ohio. As physical locations vanish, more enthusiasts are finding it more convenient to place their wagers through digital platforms, making online sports betting the primary way to follow the action.
Crain’s Cleveland Business revealed on Monday that the Fanatics Sportsbook ceased operations less than two years after its inauguration in August 2023. This betting facility was previously a New Era sports merchandise outlet, renowned for providing baseball caps to Major League Baseball since 1993.
The sportsbook operated near the Right Field District Gate, with hours from 2 pm to 8 pm during weekdays and from 11 am to 9 pm on weekends. They also catered to fans by staying open two hours before each Guardians home game until the final pitch.
The Shift Towards Online Sports Betting
With in-person sportsbooks struggling to attract customers, online wagering has taken the forefront in Ohio. In fact, a staggering 98% of the $9 billion in legal sports bets placed in Ohio last year was done via the internet, while retail sportsbooks generated merely $16.5 million in revenue compared to over $882.9 million garnered online.
Challenges Faced by the Fanatics Sportsbook
The location of Progressive Field, southeast of Cleveland’s downtown, posed a significant obstacle to foot traffic. The area lacked pedestrian activity outside game days, limiting potential customers eager to bet in-person.
According to the Ohio Casino Control Commission (OCCC), the Fanatics Sportsbook managed to take in just $872,775 in wagers during 2024. Despite the Guardians achieving an impressive season and reaching the American League Championship Series, the sportsbook’s performance remained disappointing, ranking among the least-bet venues in Ohio.
Of that amount wagered, the oddsmakers managed to retain only $56,676, reflecting a hold of 6.5%. In contrast, nearby Caesars Sportsbook also closed its retail operation and transformed its space into the Caesars Atrium Club, a premium venue for Cavs United and Caesars Rewards members.
Market Competition: FanDuel and DraftKings
Fanatics and Caesars sportsbooks struggled to capture market share amidst fierce competition from established giants like FanDuel and DraftKings. As of January 2025, Fanatics and Caesars retained about 5% of the legal sports betting market in the United States, while FanDuel dominated with 37% and DraftKings closely followed at 35.5%
Fanatics, despite the recent setbacks, remains hopeful about its future in sports betting. The acquisition of PointsBet for $225 million has provided some momentum, though growth rates have moderated from previous years.
Conclusion
The closure of Fanatics Sportsbook at Progressive Field underscores the headwinds facing retail sportsbooks amid the increasing popularity of online betting in Ohio. Despite performing well in the league, the sportsbook couldn’t attract enough foot traffic or bets, leading to its eventual shutdown. The dominance of mobile betting platforms continues to reshape the sports betting landscape, posing significant challenges for physical locations.
