Fanatics Markets Review

Heritage betting brand Fanatics just dropped its new “Fanatics Markets” hub, which lets you buy, sell and trade prediction-based event contracts across sports, politics, economics and more. And after giving it a go myself, I’m convinced it’s the bees knees.

In today’s Fanatics prediction markets review, I’ll walk you through how the site’s shiny new service - which is changing the way we interact with our favorite sports and events - works. I’ll also explore what types of event contracts currently make the cut, how to make trades, and more. So, hold on tight, because it’s gonna be a wild ride.

First up - event contract coverage and how Fanatics Markets works

Fanatics may very well have cut its teeth in the sports betting biz. But it’s important to be aware that prediction markets and betting are two totally different kettle of fish.

The brand’s new Fanatics Markets service is effectively a futures style online trading hub, where those of you with roots in eligible US states can buy and sell “Yes” and “No” contracts on the potential outcomes of various events, such as:

• Sports: think NFL, NBA, Premier League soccer outcomes, and more.
• Crypto: with predictions covering price levels, movements and the like.
• Politics: expect election predictions, potential leadership outcome contracts, and more.
• Pop culture: Oscars and Grammy’s, anyone?
• Economics: think Federal Reserve decisions and inflation data predictions.
• Climate: climate related outcomes are earmarked to be added to the app in the near future.

It’s all very hot off the press stuff tbf. But here’s everything I can tell you folks about the service so far…

Event contract trading at Fanatics Markets explained

How does Fanatics Markets work? Well, long story short, all predictions are powered by “Yes” and “No” positions, called event contracts, which you can buy and sell at any point before an event ends (i.e., the outcome occurs, or doesn’t).

For simplicity’s sake, each contract is priced between $0 and $0.99 based on how likely the market reckons the stated outcome will strike. While my Fanatics prediction markets review found that all contracts will settle at $1 if the predicted outcome lands, and $0 if it doesn’t. Let’s look at how that works, and what that means when you’re actually trading.

Prediction trading - an example we can all get behind

Let me hit you with an example illustrating what all this looks like in practice. Picture this: MLB season is on the horizon and Fanatics Markets poses the question “Will Shohei Ohtani hit 50+ home runs this season?”

Now, if you’re an avid Dodgers backer with unwavering faith in the ol’ heavy hitter, you can purchase a “Yes” contract, which might be priced at, say $0.60, indicating that the market thinks it’s 60% likely he’ll smash the target at that time.

If Ohtani delivers the goods, this example event contract would pay $1, meaning you’d win $0.40. While if he misses the mark, you’d stand to lose $0.60. Same goes if identical probabilities were listed on, say, “will Donald Trump get re-elected?” or “Will Taylor Swift drop a new album this year?” - with all sorts of exciting event categories up for grabs on the site at any one time.

To make things more interesting, I found that Fanatics Markets displays real time prices on all its event contracts, as said prices are always gonna move depending on what the market’s thinking, right? This, of course, adds an extra layer of excitement to the action, as you folks are free to sell your contracts to other traders at literally any point before events settle, as and when the probabilities shift in your favor.

A few killer features I stumbled across in the app, included:

• 24/7 market access: with anytime buying/selling up for grabs.
• Portfolio analytics tools: that help you track and monitor the ups and downs of your “Open” positions.
• Transparent fees and pricing structure: which I’ll touch on more in a bit.

Sounds like a bundle of fun, right? And believe me, it is. But is Fanatics Markets legal? And if so, where can you folks currently buy and sell event contracts from in the US, eh?

Must-knows about Fanatics Markets and its regulations

Explore a variety of prediction markets at Fanatics

Buy and sell contracts anytime at Fanatics

Good news, boys and girls, my Fanatics prediction markets review found that in qualifying US states, the brand’s shiny new event contract trading service is about legit as they come.

In fact, the trading opps up for grabs with Fanatics are powered by Paragon Global Markets LLC and Crypto.com Derivatives North America, which are both registered with the Commodity Futures Trading Commission (CFTC), meaning you’ll be tapping into a fully CFTC backed service over here.

Much as I found in my recent Underdog prediction markets review, mind, T&Cs do apply before using the service. To buy and sell event contracts with Fanatics, you’ll need to be 21+, for example. While it’s also vital you’re based in a permitted US state, too.

Fanatics Markets - the latest legal states list

Here’s which parts of the US have been greenlit so far at the time of writing:

• Alabama
• Arkansas
• California
• Delaware
• Florida
• Georgia
• Hawaii
• Idaho
• Maine
• Minnesota
• Mississippi
• Nebraska
• New Hampshire
• New Mexico
• North Dakota
• Oklahoma
• Oregon
• Rhode Island
• South Carolina
• South Dakota
• Texas
• Utah
• Washington
• Wisconsin

Although tbf, I’d strongly suggest checking up on the site’s latest live states list for yourself before doing any buying and selling of your own. As, much like the Vegas Golden Knights’ lineup, the names here can change very frequently and with very little notice.

Generally speaking, though, Fanatics Markets is safe to use from permitted US states. What’s more, its iOS and Android apps are fully encrypted, there’s an airtight Privacy Policy in place, and the brand offers a ton of “Risk Management” tools such as deposit limits and timeouts that are dead easy to use if ever you need to fall back on ‘em.

In all, you guys are looking at one of the most trusted prediction trading names in the biz, then.

Finding your way around Fanatics’ prediction markets

Fanatics’ new Markets hub is just like checking the game day roster - everything’s clearly spelled out before you. So much so, that it's easy even for first timers to figure out exactly what’s what, and start buying and selling in minutes.

So far, my review found that Fanatics Markets is app-only. This means that if you want to give it a whirl, you’ll need to start out by downloading the official Fanatic Markets iOS or Android app from either the App Store or Google Play to get started. Naturally, there are direct links to both of these on Fanatics’ own site too, if your fingers are feeling lazy.

I found that, like LeBron weaving through the defence, both apps run silky smooth, with real time probabilities updating like lightning, and Fanatics serving up separate “Sports”, “Entertainment”, “Politics” and other on-page filters with simple, one click functionality.

The app uses a sleek dark mode theme that’s all black backgrounds and white text. Not only is this easy on the eyes, but I really liked the occasional red and green highlights that crop up to denote upward and downward price fluctuations. As well as the quick click tabs in the main menu, which help you keep on top of your “Open” and “Closed” positions via the “Portfolio” page, or kick up the deposits and withdrawals tabs whenever you need ‘em.

Much like I found in my recent PrizePicks prediction markets review, there’s an excellent FAQ available geared toward absolute newbies. As well as a handy search engine that you can use to hunt down specific contracts on anything from crypto market predictions to which big bands might drop a new album next year.

Make your predictions on the go with Fanatics

Download the Fanatics Markets mobile app

Bonuses - my Fanatics Markets review’s findings

When I downloaded Fanatics’ brand spanking new Fanatics Markets app, I wasn’t offered any sort of sign up bonus - which, if I’m being completely honest here, felt like a bit of an oversight. Particularly as the brand was advertising a 100% up to $1,000 match in FanCash to users of its much longer running sports betting sister site, as well as various casino bonuses.

I put out a Fanatics Markets promo code guide recently that goes into greater detail about what other kinds of bonuses you might encounter on the Fanatics Markets app - loyalty rewards might potentially be up for grabs under the Fanatics One program at some stage, for example. While the brands also runs a competitive percentage rebate program aimed much more squarely at prediction traders.

What’s what with these? Well, here’s what you folks can expect:

Your payment options at Fanatics Markets

Fanatics Markets offers all you folks in greenlit states a whole bunch of familiar payment options when it comes to funding your trading account, or cashing out your qualifying winnings.

Like the 2019 Houston Astros, every single name in the lineup is legit, too - with VISA, MasterCard, Apple Pay, ACH and wire transfer all supported. Although you guys probably ought to note on the cards front that it’s debit cards supported only over here right now; credit cards are prohibited under CFTC regs, I’m afraid.

Here’s what to expect…

Deposits at Fanatics Markets - a few must knows

Deposit limits are nicely varied to suit newcomers and hardcore traders alike over here, but there is a 2% fee imposed on Apple Pay deposits at the time of writing in some US states. Making VISA, MasterCard and the other options mentioned above look a little more desirable, am I right?

Watch out for order fees

Another quick point to note before buying and selling any contracts - Fanatics Markets charges “Order Fees” according to a preset Fee Schedule These currently chime in at $0.02 per contract on most orders priced between $0.20 and $0.80.

Although things can get a tad more complicated when contracts are priced below or above those regular limits, bringing higher percentage fees into play that you might want to watch out for when selecting unusually low or high priced trades. The brand’s “Fee Schedule” page is your Bible on what’s what here.

Considerations before cashing out

As for withdrawals, my Fanatics Markets review found that VISA and MasterCard are once again supported, with a $5 minimum limit imposed on most users. The other payment options I listed above are supported, too, albeit with very different limits.

At the time of writing, I spotted a pretty shocking quirk in the T&Cs indicating that bank wire withdrawals come with a whopping minimum withdrawal limit of $10,000. So, it’s important to tread carefully when selecting your preferred withdrawal option - particularly if you’re hoping to bank smaller amounts.

On a brighter note, no additional fees are charged at Fanatics’ end on cashouts, while withdrawals generally take from two to five business days depending on your state and preferred payment method - that’s Tyreek Hill fast, right?

Your customer support choices - what my Fanatics Markets review found

If Fanatics’ squeaky clean new predictions app ever leaves you feeling lost, the FAQs page I mentioned earlier ought to be your first port of call. It lists reams of genuinely useful Q&As on anything from how to deposit and withdraw, to how order fees work and how to close a Yes/No position ahead of an event drawing to a close.

Like, Mookie Betts on game day, it covers all the main bases, then. With the “Fanatics Markets 101” page being especially useful for any first timers among you folks. But what about if you wanna speak to someone from the support team directly? Mano y mano?

Well, much as I found in last week’s FanDuel prediction markets review, Fanatics has a fair few reliable contact options to choose from on that front, which totally get the job done, although could use some improvement. These currently include:

• Email support: Hit up Fanatics’ main support email, and I found you can usually expect a pretty prompt response. I tested it a couple of times while writing today’s review, and they pinged me back within two to four hours on each attempt. That’s good going in my book.
• Online contact form: Another option available in most permitted states right now is Fanatics’ official online contact form, which allows you to fill out and send in a query from directly within the Fanatics Markets app instead of having to head to your inbox. The service works well enough, with a drop down box to help you categorize your query, and a waiting time that’s pretty comparable to what I found with the email service.

Let’s be honest here, though - it’s a crying shame there’s no in-app live chat option or US telephone hotline available over here yet. Particularly as both services are often available among many of the brand’s main competitors…

How to start trading with Fanatics Markets - my review’s step by step guide

If you’re liking the sound of all that Fanatics Markets has to offer, here’s how you folks can register from a permitted US state and start event contract trading yourselves:

1. Click any of my official banners here - they’ll land you dead center on Fanatics’ prediction markets homepage.

2. Tap to download your preferred app - both iOS and Android versions are available at the time of writing.

3. Sign up for a new Fanatics Markets account - if you’re already a Fanatics Sportsbook or Casino customer, you might be able to sign up for Markets without entering all your personal info from scratch.

4. Deposit $5 or more - this is the minimum limit across most payment methods. But always double check to be sure.

5. Start buying and selling contracts - you can view what’s what from the main Fanatics Markets dash, which offers market by market filters and a search engine for individual contracts, too.

Don’t forget that you’ll need to be at least 21 years old to grab a slice of the action. While Fanatics Markets’ legal states list could be subject to last minute changes at any time.

My Fanatics Markets review conclusion - a top tier, CFTC regulated trading hub

When all’s said and done, Fanatics’ new Markets service really wowed me. Sure, it sucks that there’s no welcome bonus for the taking right now. And the app could certainly benefit from a live chat feature, as well as a bit more consistency across its payment methods in terms of withdrawal limits, too.

Nevertheless, the Fanatics Markets app is a dream to use, covers as many markets as the 2016 Chicago Cubs roster did essential game skills and attributes, and, at the time of writing at least, boasts excellent state level availability when compared against many of the brand’s closest competitors.

I’m not at all surprised the app’s been causing a stir since its launch. And, so long as you’re of age and located in an eligible US state, I’d say it’s well worth trying out for yourself to see what all the fuss is about.

Hit any of my official banners here to get started.

Fanatics Markets review FAQs

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