By
Amelia Walker
Senior Content Writer Updated: 02 September 2019
Amelia Walker Senior Content Writer
Amelia Walker is a Senior Content Writer at Betting.US. She has a law degree and deep knowledge of the gambling laws in the United States. Her mission is to keep players informed about responsible gambling, while her passion for sports helps her create useful guides. Amelia has over a decade of experience in betting, which has positioned her as a trusted voice among our readers.
After months of waiting, Fox Bet’s online sportsbook is now live in New Jersey. It’s a monumental moment for the U.S. sports betting industry, and it’s the first time a US-based company has launched an online sports betting website.
While it’s not technically a brand new launch (Fox Bet is essentially replacing BetStars), the move is still being cited as ‘game-changing’ for punters in the USA, and all existing BetStars/PokerStars account logins and passwords have now been migrated over to the new Fox Bet website. Fox Bet are keen to reiterate that the move doesn’t affect player accounts, nor the overall service offered.
It appears that the company behind Fox Bet are keen to continue riding the momentum, and the operators are set to open another online sportsbook in Pennsylvania next week. The only hurdle to get through is passing regulatory approval – although it’s likely that this approval will be granted quickly.
However, Fox Bet have made it clear there will be a few significant changes in the Pennsylvania-based website. For example, online poker is not expected to be immediately available – and players may also notice a slightly different selection of odds and events. This is due to the fact that regulatory costs are higher in Pennsylvania, with operators having no choice but to pass on these higher costs to punters.
It’s been a long time coming for Fox Bet to finally launch in the US – and in May 2019, the company partnered with The Stars Group (the brand behind global poker website PokerStars) to offer sports betting facilities to US-based customers. At the time, the CEO of The Stars Group stated:
“We believe this strategic partnership uniquely positions us to build a leading betting business in the U.S., which represents one of the most exciting long-term growth opportunities for our company.”
It’s reported that Fox Sports (the parent company of Fox Bet) paid some $236 million for a 5% share in the Stars Group. However, the group was also given the chance of acquiring up to 50% of The Stars Group’s US operation, before the 10th anniversary. This is a deal that could be worth billions, and it’s expected to stretch up to 25 years!
It’s clear that Fox Sports and the Stars Group believe they’ll be an unstoppable force together – and by the gains they’ve already made, it’s clear that neither company is messing around.
With the US online gambling industry expected to boom over the next decade, operators are keen to ‘cash in’ as early as possible. Of course, with large operators like The Stars Group, there’s also the highl lucrative opportunity to market existing products – like poker – to those who are signing up to the online sportsbooks. Whether the US government will look to loosen the rules surrounding other forms online gambling remains to be seen…
But it is clear that gambling is opening up in the country – and for some, this move can’t come soon enough.
Betting Bill Fails to Get Past Alabama Conference CommitteeRead Article
Lisa SpencerMay 18, 2024
North Carolina Lawmaker Introduces Bill to Ban College Prop BetsRead ArticleLisa SpencerMay 15, 2024
November Referendum on Sports Betting Likely in MissouriRead ArticleLisa SpencerMay 13, 2024