FOX Bet Sports Betting Platform to Close: Flutter and FOX Announce Decision
Flutter and Fox Corporation have jointly announced their decision to close the sports betting platform FOX Bet. The phased closure of FOX Bet’s operations is scheduled to take place between July 31 and August 31, 2023.
FOX bet to close
FOX Bet was operated by Flutter as part of The Stars Group US (“TSG US”), along with the US-facing operations of PokerStars. However, Flutter will retain ownership of PokerStars, as well as the leading US sports betting market platform, FanDuel. On the other hand, FOX will maintain the future use of the FOX and FOX Bet brands, including FOX Bet Super 6, and they are planning to launch an all-new FOX Super 6 game later this summer.
Throughout its operation, FOX Bet has been a prominent player in the sports betting industry, but the decision to close it comes as part of the company’s strategic plans. Despite the closure, FOX will still hold its option to acquire an 18.6% stake in FanDuel and also maintains a 2.5% stake in Flutter.
The closure of FOX Bet will allow both Flutter and FOX to focus on their respective ventures in the gaming and entertainment industry. Flutter aims to continue strengthening its position in the US sports betting market with the support of FanDuel, which has become a leading player in the industry. Meanwhile, FOX will maintain its brand presence and explore new opportunities with the forthcoming launch of the FOX Super 6 game.
This development marks a shift in the partnership between Flutter and FOX, as they chart their separate paths in the competitive landscape of online gaming and sports betting. The closure of FOX Bet may bring changes to the market, but both companies are optimistic about the future prospects of their individual ventures. As the gaming industry continues to evolve, Flutter and FOX are determined to adapt and thrive in their respective segments.