Online gambling operator The Stars Group (TSG) has struck a major sports betting partnership with broadcaster Fox Sports, which is taking a 5% stake in the gambling group.
On Wednesday, TSG and broadcaster FOX Sports, a subsidiary of Fox Corporation, announced the imminent arrival of FOX Bet, a “first of its kind national media and sports wagering partnership in the United States.”
The plan is to launch a real-money betting app dubbed FOX Bet in states where such activity is legal. A second product, which will be available nationwide, will be a free-play game that awards users cash prizes for correctly predicting the outcomes of games.
The deal will grant TSG an exclusive 25-year license to use certain FOX Sports trademarks in “a range of immersive games and online sports wagering, and certain exclusive advertising and editorial integration rights on certain FOX Sports broadcast media and digital assets.”