Fox Bet launches in New Jersey and Pennsylvania
Fox Sports, a subsidiary of Fox Corporation, has launched its new sports betting app in New Jersey and Pennsylvania.
Fox Bet is an online and mobile sports betting product offering pre-game and in-play wagering on a number of sports, including American football, basketball and tennis.
Fox Sports signed a deal with Stars Group earlier this year to launch Fox Bet, while also purchasing a 4.99% stake in the operator – equity which could increase to 50%.
The deal, described by Stars Group as a “long-term commercial agreement,” grants the operator an exclusive license to use certain Fox Sports trademarks.
At the time, Rafi Ashkenazi, Stars Group CEO, said: “We believe this strategic partnership uniquely positions us to build a leading betting business in the US.
“Leveraging our proven media partnership strategy with Sky Sports in the UK, we are excited to partner with Fox Sports to integrate wagering into our sports media and drive customer acquisition and retention in the US.”
Fox Bet is the latest app to be launched in New Jersey, with sports betting legalization in the state contributing to a 23% rise in total gaming revenue year-on-year for H1 2019, and total sports wagering revenue of $127.5m, as reported by the New Jersey Division of Gaming Enforcement.
Pennsylvania’s mobile market is younger but has nevertheless attracted the likes of Fox Bet, FanDuel and more.
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