Legal Sports Betting Changing How We View Sports - Fox Sports Takes Down Offshore Odds

Written by:
Don Shapiro
Published on:

  • Media companies like NBC are developing mobile apps with contests where fans can win real money

  • Sports teams in connection with television companies are now able to build a long lasting relationship thru these innovations

  • Fox Sports has joined forces with PokerStars parent company to offer real money wagering site FOX Bets

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Legalized sports betting in the US is changing how we watch sports, but is it a change for good or for bad?

The first attempt by a sports league to cash in on sports betting was through a controversial “integrity fee”.  That hasn't been working out too great (witness the New York hearing May 8).  Instead, they now have to rely on sponsorship fees to provide exclusive data on the players and leagues.

From the PricePerPlayer Blog:

In order to maximize gambling profits, television executives are coming up with new innovative ways to earn Legal Sports Betting is changing how we watch sports.  For example, they now have TV and live streaming shows that give viewers statistics, live betting odds and point spreads. In addition, companies like NBC have begun to make their own mobile apps with contests where fans can win money.

Sports teams in connection with television companies are now able to build a long lasting relationship thru these innovations.  This is because according to David Preschlak, the President of NBC Sports Regional network, fans are looking for a different type of betting content experience.

The big news came on Wednesay May 8 with the announcement that Fox Sports and PokerStars parent company Stars Group had teamed up to develop a wagering product, both for free play and real money.

Fox Sports says it is buying just under 5% of The Stars Group, the parent company of PokerStars, for about $236 million. Both companies will offer real-money sports betting this fall in states where it is legal and they are licensed.

The network has the option to acquire half of the Stars Group's U.S. business after 10 years.

The companies will offer full-blown sports betting under the name Fox Bet in states that have legalized it.

It's a deal Senior Consultant at Eilers & Krejcik Gaming Alun Bowden says "should have surprised nobody".

He tweeted:

"A major media deal was trailed heavily by TSG, was mentioned in the last couple of results, there was only ever really 3 or so companies it could have been. The deal structure is interesting though.

This relationship will likely open a whole can of worms as New Jersey regulators have promised to crack down on licensed gambling sites that feature links to offshore sportsbooks.  Fox Sports has long used Oddsshark odds that prominently feature the likes of Bovada and 5Dimes.  Immediately after the Fox Sports announcement, these odds were removed under the guise of "We’re undergoing maintenance. During this time, you may notice inaccurate or missing data. We apologize for any inconvenience."

- Don Shapiro, Gambling911.com

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