A historic sports media and betting partnership will soon establish its presence in Pennsylvania.
Last week, Fox Sports and The Stars Group Inc. announced their plans to launch Fox Bet. It is a sports wagering partnership that will bring a wide variety of gaming branded under the Fox Sports name.
According to Legal Sports Report, the Fox corporation will pay $236 million for a stake of just less than 5% in The Stars Group.
The Fox Bet partnership will launch this fall
The Fox Bet partnership between Fox Sports and The Stars Group is the first significant venture in America to utilize the reach of a major media outlet alongside a real-money gaming enterprise.
According to the news release, contests will launch this fall and feature both free-play games and traditional sports betting.
The free contests will award prizes for predicting the winners of sports games. The Fox Bet product will feature a wide variety of betting options in states with legalized sports gambling.
Mount Airy Casino will feature Fox Bet branding
In Pennsylvania, the Fox Bet brand will be used with Mount Airy Casino’s sportsbook. According to Play Pennsylvania, Robin Chhabra, CEO of Fox Bet, said the free-play games should launch at the beginning of the 2019 NFL season. Fox Bet will also offer a real-money betting app in states with regulated online betting.
In New Jersey, the Fox Bet brand will replace the BetStars brand before football season starts. It will be interesting to see if the change in branding affects future earnings.
Pennsylvania online betting launch is imminent. However, Mount Airy is only just beginning the sports betting application process. With that in mind, getting Fox Bet PA up and launched by football seems like a longshot.
Fox Bet will likely expand to other states
Per Legal Sports Report, the FOX Bet brand will likely expand to include many other states as well. Last November, The Stars Group announced a 20-year agreement with Eldorado Resorts that could provide betting access to 13 states pending the legalization of sports betting in all those states.
In West Virginia, where sports betting is already legal, the Eldorado group owns the Mountaineer Casino in New Cumberland.
FOX Bet represents a victory for the acceptance of sports betting
As legalized sports betting continues to expand across the country, the FOX Bet announcement signals a major victory for the public perception of wagering.
One of the biggest entities in sports media is jumping headfirst into the gaming industry. It’s possible that others could follow. Legal Sports Report mentioned that NBC Sports, CBS Sports and Comcast have each taken exploratory steps to get involved in the industry.
Betting could be featured on TV broadcasts
From a big picture standpoint, the synergy of betting lines and wagering combined with media coverage and televised sports should continue to advance the public’s acceptance of sports gambling.
And all that excitement will make its way to Pennsylvania soon.
“Fox Sports is already synonymous with the best live sports events in the country,” Fox Sports CEO and Executive Producer Eric Shanks said in the press release.
“Now we are expanding the way we immerse fans in the sports culture they love. Digital sports wagering represents a growing market opportunity that allows us to diversify our revenue streams, connect directly with consumers and expand the reach of the FOX Sports brand.”