Fox Sports, Pokerstars Announce FOX Bet Joint Venture

Q: Fox Bet App - What is It?

A: FOX Bet is a joint venture between Fox Sports (unit of Fox Corporation) and The Stars Group (parent company of Pokerstars, European Poker Tour and more).

FOX Bet will be a real-money wagering platform that will be available in states where sports betting is currently legal (this includes states such as New Jersey and Delaware, amongst others).

As more and more states legalize sports betting in the United States, the thought is that FOX Bet will eventually be able to most or all of the residents of the United States, though widespread legalization could take years, unless some sort of federal bill is passed.

The Fox Sports is starting a new joint venture with Pokerstars.  The product is Fox Bet.Under the terms of the agreement, Fox will allow The Stars Group to use certain of their Fox Sports trademarks in order to help market the site.

In exchange, Pokerstars will presumably use their sports betting platform to power the FOX Bet site.

Under the terms of the deal, Fox Corporation will be purchasing 14,352,331 newly issued shares in The Stars Group, which will amount to a 4.99% stake in the company.


Fox has the rights to broadcast a number of different sporting events, ranging from a selection of the NFL's games to other sports.

The synergies here are obvious, and if sports betting becomes widely legalized in the United States, FOX Bet will quickly become a leader in the space in the United States.

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