Fox Bet Bows Out of Betting Game After Four-Year Run

In a significant shift of strategy, Fox Corp., the major media company, has decided to exit the betting space, ending its four-year partnership with Flutter Entertainment, the parent company of FanDuel. The closure of Fox Bet will be executed in phases, and the service is set to be completely shut down by the end of August.

If you're affected by Fox Bet's closure, you can check out your options in Dimers' Best US Sportsbooks and Betting Sites section.

Fox Bet had hoped to become one of the Best US Sportsbooks and Betting Sites when it launched in 2019, seizing the opportunity after the U.S. Supreme Court's ruling in Murphy vs. NCAA paved the way for legalized sports betting. The Fox Bet platform offered both free games, notably Fox Bet Super 6, which garnered a nationwide following, and real-money gambling options with licenses obtained in Colorado, New Jersey, Michigan, and Pennsylvania.

Fox is closing down Fox Bet, the broadcaster’s sports-betting venture, after it failed to grow as quickly as more dominant players in the nascent U.S. online-gambling market https://t.co/sshv0sdcvW

— The Wall Street Journal (@WSJ) July 31, 2023

Initially, Fox collaborated with The Stars Group to launch Fox Bet. However, when Flutter Entertainment acquired The Stars Group, a lengthy arbitration between Flutter and Fox ensued, revolving around Fox's option to acquire a larger stake in the betting company. This arbitration concluded last year, granting Fox a 10-year option to acquire an 18.6 percent share in FanDuel for $3.7 billion.

While Fox Bet bids farewell, Flutter Entertainment will retain the customer database and licenses associated with the platform. On the other hand, Fox will maintain ownership of the Fox Bet brand, including its well-known Fox Bet Super 6.

In a move to retain its presence in the betting landscape, Fox plans to launch a new game, Fox Super 6, later this summer. However, details about this new game remain undisclosed.

Over the years, Fox executives, led by CEO Lachlan Murdoch, expressed optimism about the potential of sports betting, particularly in synergy with its Fox Sports division. Although the decision to discontinue Fox Bet's operations may have surprised some, the option to acquire a stake in FanDuel offers Fox valuable economic exposure to one of the industry's major players.

In light of Fox Bet's demise, we know you probably already have an account with one of the other leading sportsbooks here in the US, but it definitely pays to have more than one funded account.

Find out which books are best, who has the best new customer offer, and how you can secure better odds and lines for all of your bets, in Dimers' Best US Sportsbooks and Betting Sites section.