Fox Sports is entering the betting arena “ambitiously, aggressively, but also responsibly,” the division’s chief, Eric Shanks, declared during the Fox Corp investor day.
Fox Bet, a new offering catering to those newly permitted to lay wagers in multiple American states after a Supreme Court ruling cleared the path, will be “up and running by this football season.” The service is made possible by a partnership between Fox and Canadian gambling outfit The Stars Group.
Fox will become the first established media company to put its name on betting products aiming to compete in US states with legalised betting against companies like FanDuel and DraftKings. In exchange for a $236 million investment in Stars, Fox gets about 5 per cent of the company.
The push into betting was key to the slimmed-down make-up since the closing of the Disney deal that saw two-thirds of Fox migrate to Disney.