The long-awaited Fox Bet has launched in New Jersey.
Over the weekend, Fox Bet became the latest online sports betting platform to enter the New Jersey sports betting market.
Fox Bet is the product of a partnership between The Stars Group (TSG) and Fox Sports.
The launch of Fox Bet represents the first time an American sports media company has used its brand name to launch an online sportsbook.
Fox Bet will now replace The Star Group’s (TSG) BetStars brand in the Garden State.
Existing BetStars and PokerStars customers can use their log in details to access the Fox Bet platform.
While Fox Bet is new to the New Jersey sports betting market, this is more of a rebranding than a traditional product launch.
The story behind Fox Bet
Back in May, TSG and Fox Sports announced a partnership to launch Fox Bet, a brand-new online sportsbook, across the US.
Fox Bet is intended to act as a national sports media and betting platform. In states without legal sports betting, the Fox Bet platform will allow users to participate in a free-to-play game with real-money prizes up for grabs.
According to a press release released by the companies in May, this was “the first-of-its-kind national media and sports wagering partnership in the United States.”
The partnership between TSG and Fox also includes a 25-year long commercial agreement through which Fox will prove TSG with an exclusive license to use certain Fox Sports trademarks.
Fox Bet is coming to Pennsylvania
Bettors in the state of Pennsylvania will get their hands on Fox Bet next.
Pending regulatory approvals, Fox Bet plans to launch in the Keystone State in the coming weeks.
The Fox Bet sports betting platform is likely to remain the same as New Jersey’s platform. However, due to state regulations, Poker will not be available in Pennsylvania at launch. On top of that, the state’s high tax rate could have an impact on pricing and promotions in Pennsylvania.
Sports media companies and sports betting
Fox is not the only media brand with an interest in the US sports wagering market.
The Canadian sports media platform, theScore, plans to launch a real-money sportsbook app and website in New Jersey in the coming weeks. Also, thanks to a market access deal with Penn National Gaming, theScore will have access to Indiana, Iowa, Kansas, Louisiana, Maine, Massachusetts, Michigan, Mississippi, Missouri, Ohio and Texas.