CEO Michael Rubin on betting within the Fanatics ecosystem

Market Position & Growth - The company has achieved a 75%-8% share of the sports betting market within 20 months of operation [1] - The company has captured approximately 4% of the iGaming market [1] - The company's success is considered a surprise, given the initial perception of the market as a duopoly [1] Marketing & Value Proposition - The company has spent less than $150 million on marketing [2] - The company differentiates itself by offering a better value proposition to sports fans [2] - The company provides "Fan Cash," a reward system that gives users a percentage of their bets back, redeemable within the company's ecosystem [3] - The company anticipates issuing $1 billion in Fan Cash next year, with a high redemption rate of 99% [4] - The company offers "fair play" policies, such as refunding player prop bets if a player is injured early in a game [5]