When Rupert Murdoch of Fox Corp (FOXA.O) launches its sports betting platform FOX Bet on Monday, it will do what no other major media company can do in North America: become the face of a sports gambling platform.
No topic can make the British talk as much as talk about sports. It divides us, unites us, and is one of the few things you actually hear English people say passionately! Sports are indispensable things in the UK including newspapers, television, radio, streets, cafes, and pubs cover only sports stories, from football to rugby, tennis to hockey… Therefore, sports betting in the UK has significantly developed nowadays.
FOX Bet, launched in New Jersey, is operated through a partnership with game provider The Stars Group (TSG) (TSGI.TO). It lends national brand recognition, stars, expert commentary and news to attract casual players.
Entertainment giant from Walt Disney Co (DIS.N) to AT&T IncT.N) WarnerMedia has crept into the red hot sports betting arena, a project where experts can generate 9 billion in revenue. dollars in the next few years in gambling revenue.
But most have relied on creating new shows and providing comments and keeping a distance from actual weapons. Major media companies are worried that crossing the line to allow viewers to bet could ruin their brand if that happens to be undisputed, experts say.
Chris Grove, a managing director of analytics firm Eilers & Krejcik Gaming LLC, said these were pretty heavy questions, especially for the billion-dollar media giants.
Fox comes to the field of experience. This is Murdoch’s third foray with sports betting. Murdoch of Sky, now owned by Comcast Corp (CMCSA.O), has signed a similar agreement with TSG to create Sky Bet, a UK sports betting partner. They can point to that model and say, this seems successful in the UK, Grove Grove said.