Well know globally FOX Bet sports betting is big name in America. It is well known brand in Europe, Canada and on the verge of entering the Australian market. The company is deep into negotiations for the brand to be used down under, with high-profile movers and shakers throwing their weight behind the push.
FOX Bet started as a joint partnership between FOX Sports and Canadian company The Stars Group in 2019. The partnership made FOX Sports the first major U.S. sports broadcaster to bring in a co-company sports betting platform. However, The Stars Group was already expert in this field. It historically paid close attention on online poker – it owns world-most popular brands PokerStars and Full Tilt – but in 2018 it bought UK Company Sky Bet in a cash and stock deal.
Sky Bet was released in collaboration with Sky Sports, the UK’s foremost sports broadcaster, which was also built by FOX Sports founder Rupert Murdoch. The company features notable on Sky Sports broadcasts, while the famous broadcasters feature in its commercials. The reason was to create a similar offering for the emerging U.S. sports betting market in a joint venture with FOX Sports. As part of the deal, Fox Corp. bought a 4.99% stake in The Stars Group for $236 million, and it can buy up to a 50% stake in the company’s U.S. operations within a decade.
Five months later, Flutter Entertainment – the owner of FanDuel, Paddy Power, Betfair and many other brands – agreed to acquire The Stars Group for $6 billion. The deal was completed in May 2020, establishing the world’s largest online gaming brand. It brought FanDuel, FOX Bet, Paddy Power, Betfair Sky Bet, PokerStars, Full Tilt, BetEasy, Adjarabet and Sportsbet under the same parent company.
The FOX sports betting site initially launched in New Jersey after tying up a deal with Resorts Atlantic City to operate on its license. It then expanded into Pennsylvania, Colorado and Michigan. In 2020, Flutter reported revenue of $800 million for FanDuel, compared to $96 million for FOX Bet. Chief executive Peter Jackson admitted that FOX Bet was “struggling” and that customer acquisition was low, but it is now investing in some interesting promotions and bonuses to redress the balance. FOX Bet has a reputation as a trustworthy, innovative online sportsbook, and it could become a major player in the U.S. sports betting market if it follows a similar trajectory to Sky Bet in the UK.
When will FoxBet go live in Australia?
While nothing is set in stone, FoxBet is expected in Australia before the end of 2022 and advanced talks are currently ongoing among the major stakeholders.
Rupert Murdoch’s News Corp Australia is in up to date talks with a group backed by high-profile bookmaker personality Matthew Tripp to start a new betting outfit that would reshape both the local industry and the fight for Tabcorp’s betting division. News Corp is also in talks with US media business Fox Corp, which is also run by the Murdoch family, to get licensing rights to use the FOX Bet brand for the new business.
Fox Corp was initially interested in launching the FoxBet brand in Australia with the help of another betting company. But The Age and The Sydney Morning Herald can reveal the company is expected to be run by the Murdochs local media arm.
News Corp seeked for expressions of interest awithin the Australia’s established bookmakers last year to find a local partner to start FOX Bet but now its preferred option is now to launch as a independent brand with equity partners tied to local online gambling pioneer.
FoxBet sports betting review
The Foxbet app will features a vast range of market options across all sports and horse racing offered in Australia and globally too.
Fox Bet in the USA does not have as many betting markets as an Australian bookmaker, but this will have to change if they are to be competitive down under. They simply won’t be able to compete with the bigger guys, if they don’t have as many markets. This includes horse racing, which is one of the the major sports Australians bet on.
For Aussie Rules customers, betting isn’t limited to just the AFL as Foxbet will offers markets on state-based competitions like the SANFL, WAFL and VFL.
Rugby League fans also will have many options to pick from as they can bet on the NRL or English Super League while customers wanting to bet on Soccer/Football will have wide variety of local and international leagues to back,
Foxbet will cover everything from the major UEFA competitions like the Champions League right down to New South Wales and Victorian Premier League Futures Markets.
FoxBet mobile review
Foxbet will be a big budget online bookmaker, and they are expected to have mobile app, functional website that will be able to meet up the standards of what is available in the market currently.
FoxBet AUD deposit options
Other bookmakers in Australia have these payment options, and FoxBet is expected to have the same payment types available:
- ACH/Echeck: Quickly connect your Foxbet account to your bank account using your account and routing numbers. This will be available when they launch in Australia.
- Bank Transfer: Send money online directly from your bank account into your FOXBET account.
- Credit/Debit Card: FOX BET sportsbook will also allow Visa and Mastercard.
- PayPal: FoxBet will make use of PayPal which is The world’s most popular E-wallet will also be available on FOXBET. It will move funds from your E-wallet into your sportsbook account.
- Neteller: Foxbet will make use of Neteller, which allows one to Connect your credit or debit card to this E-Wallet in order to deposit instantly to FOXBET account.
- Skrill: If you are an international user, this will be your best option, as this E-wallet accommodates 40 different currencies. This will also will be available on Foxbet.
Fox history in Australia
The Murdochs, who started News Corp, have a 39 per cent interest in Fox through a family trust. Rupert Murdoch sits as the chairman while Lachlan Murdoch sits as the executive chairman and chief executive.
Rupert Murdoch’s News Corp Australia is in up to date talks with a group backed by high-profile bookmaker Matthew Tripp to start a new betting outfit that would reshape both the local industry and the fight for Tabcorp’s betting division. News Corp is also in talks with US media business Fox Corp, which is also run by the Murdoch family, to get licensing rights to use the FOX Bet brand for the new business.
FOX Bet has one of the most fascinating sports betting brand on the market right now, with an creative mobile-first platform that’s fused with FOX’s larger entertainment brand. The Stars Group and FOX Sports are two big famous brands and they have joined their efforts to create FOX Bet in the United States. As a result, the sportsbook is not only very reliable but also promises a fantastic platform with all the top sports at reach.
FoxBet review conclusion
FoxBet is yet to formally announce its hand in the Australian gambling market, but we expect them to enter the scene in the not too distant future. FoxBet has got a strong reputation in the US as a betting service, but their parent company is somewhat controversial and plays a large role in the media landscape in the USA. Australians are already familiar with the Fox brand in Australia, with Fox Sports holding many TV rights for sports down under, which automatically gives them symmetries with the new business. You can see it now, the great exposure FoxBet will get from their TV viewership. Undoubtedly, FoxBet will have a huge impact on the betting landscape in Australia and with Tripp on-board it’s hard to see this venture failing.