The Michigan online sports betting market will launch this month. Thus, there's a mad scramble among sportsbooks to get a portion of the new market. Among the contenders is Fox Bet.
Fox Bet wants to capitalize on brand recall to fend off BetMGM, DraftKings, and other competitors. According to sports betting solution reports, Michigan can be one of the most lucrative online gambling markets in the US.
Before the US Supreme Court overturned the federal ban on sports betting, nobody thought they could legally bet on sports in Michigan. At present, it can be one of the highest-grossing online sports wagering markets in the nation.
Michigan Online Sports Betting Launch
According to a gambling blog, Fox Sports acquired The Stars Group, which is PokerStars' parent company. After the acquisition, the company created Fox Bet sportsbook. Thus, Fox became the first American media company to have a sports betting platform.
According to Price Per Head Sportsbook sources, Flutter Entertainment acquired The Stars Group. As a result, Fox Bet is now part of the larger gambling firm. Though the media company has a corporate connection with FanDuel, Fox wants to become the leading sports betting option on its own.
Based on pay per head bookie solution experts, Fox Bet is live in New Jersey. In January 2020, the company signed an agreement with the Little Traverse Bay Bands of Odawa Indians. It involves running an online sports betting site, poker, and casino gaming in Michigan.
Fox Bet would leverage Fox's branding to attract players in Michigan. According to reports, there will be more than two dozen online sports betting sites during the Michigan online sportsbook market launch. At present, 15 operators already received their provisional licenses, including Fox Bet. The remaining operators are still waiting for approval of their licenses.
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