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Flutter Entertainment and Fox Corporation Pull the Plug on FOX Bet

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Lina Almans

01 August 2023

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Flutter

Gambling company Flutter Entertainment and American media giant Fox Corporation have called it quits on their joint betting venture, FOX Bet. The news was announced on Flutter Entertainment’s website.

The FOX Bet platform will be gradually shut down from July 31 to August 31, 2023.

According to the company’s press release, Fox Corporation will keep the future use of the FOX and FOX Bet brands, as well as the rights to the gaming forecast called FOX Super 6.

Fox Corporation also has an option to buy an 18.6% stake in FanDuel, a betting company owned by Flutter Entertainment. Additionally, Fox Corporation owns 2.5% of Flutter Entertainment’s shares.

The reasons for closing the FOX Bet platform are not disclosed, but it’s likely that the venture was not profitable enough in the competitive US market. FOX Bet operated in only four American states.

For reference, Flutter Entertainment also runs other well-known gambling companies such as PokerStars, Betfair, Paddy Power, and Sportsbet.