Skip to main content

FOX Bet to Close by End of August After Four Years of Operation

  • The Flutter-owned FOX Bet is no longer accepting wagers
  • Accounts will be open until Aug. 31, 2023
  • FOX Bet was live in four states

Maybe instead of Taps to announce FOX Bet’s closure it would be more appropriate to play the NFL on FOX injury music?

FOX and Flutter Entertainment announced today a phased closure of FOX Bet beginning July 31, 2023. Bets will no longer be accepted starting today, but customer accounts will remain open through Thursday, Aug. 31.

FOX launched the sportsbook in 2019 as part of the Stars Group along with PokerStars. The popular poker app and online casino will not be affected by the FOX Bet closure.

FOX Bet Announces Closure Overnight

FOX Bet users logging onto their apps their morning were greeted with an announcement that the sportsbook would no longer be accepting bets. The operator also made the announcement on their social media channels.

The operator was only live in four states: New Jersey, Colorado, Pennsylvania, and Michigan. FOX Bet struggled to gain market share since its 2019 launch. The Stars Group was acquired and operated by Flutter as of May 2022.

Flutter released the following statement in a press release today:

“Flutter operated FOX Bet as part of The Stars Group US (“TSG US”) along with the US facing operations of PokerStars. Flutter will retain ownership of PokerStars, in addition to U.S. sports betting market leader FanDuel. FOX will retain future use of the FOX and FOX Bet brands, including FOX Bet Super 6, and intends to launch an all-new FOX Super 6 game later this summer.”

FOX and Flutter Took to Court in 2021

FOX will continue to hold its option to acquire 18.6% of FanDuel, which had been a point of contention between the two companies. The two went to court over the 18.6% option in April 2021, with FOX forced to pay a $4.1 billion fee for its option. FOX questioned the market valuation of FanDuel from December 2020 when Flutter acquired the remaining 37.2% stake of the operator’s shares from FastBall Holdings.

A U.S. court ruled that FOX’s option should be in line with a $20 billion valuation of FanDuel, rather than a previously estimated valuation of $11.2 billion for the company.

FOX has a ten-year period from December 2020 within which to exercise the option, should it wish to do so, subject to an annual compounding carrying value adjustment of 5%.

FOX will also continue to hold a 2.5% stake in Flutter overall.

The post FOX Bet to Close by End of August After Four Years of Operation appeared first on Sports Betting Dime.



from Sports Betting Dime https://ift.tt/Mjl9qis
via IFTTT
Labels:

Comments

Post a Comment

Popular posts from this blog

Printable CFP Playoff Bracket – Make Your Picks to Win National Championship

The 12-team College Football Playoff bracket is set following Selection Sunday on December 7 Indiana claims the No. 1 overall seed after a perfect 13-0 season and Big Ten title Below, find SBD’s printable CFP bracket, first-round schedule, matchups and viewing info The 2025 College Football Playoff bracket is locked and loaded, and the Selection Committee delivered some serious drama on Sunday. Indiana sits atop the CFP bracket as the No. 1 seed after an undefeated season, while Notre Dame got left out in one of the most controversial snubs in playoff history. Now that we know all the matchups, SBD is publishing our annual printable CFP bracket. Simply click the bracket image below to open and download a printable PDF version you can fill out as the playoff progresses. We’ve also included the full College Football Playoff first-round schedule for each game, along with the matchups and viewing info. Printable CFP Bracket 2025 Click the image to download a printable PDF ver...
Post a Comment
Read more

Dodgers vs Phillies Odds, Series Price & Schedule for NLDS

The LA Dodgers advanced to face the Philadelphia Phillies in the 2025 NLDS The Phillies won the regular-season series 4-2 See the Dodgers vs Phillies odds and series price for the National League Division Series The reigning-champion Los Angeles Dodgers (93-69, 52-29 home, 41-40 away) kept their quest to repeat alive and well by ousting Cincinnati in two games in the Wild Card. The road gets steeper from here, with LA slated to face the Philadelphia Phillies (96-66, 55-26, 41-40 away) in the 2025 National League Division Series. The opening Dodgers vs Phillies odds list Los Angeles as a slight favorite to advance to the NLCS. Los Angeles Dodgers vs Philadelphia Phillies Odds Team Series Odds Series Handicap Game Total Dodgers -130 -1.5 (TBD) O 4.5 (TBD) Phillies +110 +1.5 (TBD) U 4.5 (TBD) The Dodgers/Phillies series price has opened with Los Angeles as a -130 favorite, slightly ahead of the Phillies at +110. The total-games line for the best-of-f...
Post a Comment
Read more

2019 The Metropolitan Preview

A field of seventeen will line up in the 2019 Group 1 The Metropolitan over 2400m at Randwick on Saturday. Sydney’s leading trainer Chris Waller has a great chance to win back to back Metropolitans after securing six spots in the $750,000 staying contest with Shraaoh, Wu Gok, Come Play With Me, Haripour and last year’s quinella Patrick Erin and Brimham Rocks. Gai Waterhouse will be chasing a ninth win in The Metropolitan and this year will team up with co-trainer Adrian Bott with last Saturday’s Colin Stephen Quality winner Stampede and Newcastle Gold Cup winner Hush Writer. Sir Charles Road will be representing the Kiwis and the Lance O’Sullivan and Andrew Scott trained stayer is coming off a last start fifth at Randwick in the Group 3 Kingston Town Stakes (2000m). We have analysed all seventeen runners and our complete 2019 The Metropolitan tips can be found below. Shraaoh Shraaoh is the first of Chris Waller’s six Metropolitan runners and showed his staying ability during the ...
Post a Comment
Read more