Fox Bet, the US sports betting platform run by Ireland-based betting giant Flutter Entertainment, will shut down its operations completely by August 31.
The closure will be completed in stages, having begun yesterday (July 31) after a joint announcement by media giant Fox Corp and Flutter.
Fox launched its betting division in 2019 alongside online gaming company The Stars Group, before the latter firm was acquired by Flutter. Flutter then operated Fox Bet as part of The Stars Group and alongside the US operations of the PokerStars site.
Flutter will retain ownership of PokerStars, as well as of US-based fantasy sports firm FanDuel. It will also retain the Fox Bet customer database and its licenses.
Fox, meanwhile, will retain future use of the Fox Bet brand and has said it intends to launch “an all-new Fox Super 6 game” later this year.
Fox Bet offered both free games such as the Super 6, as well as seeking gambling licenses, which it received in a small number of US states (sports betting was effectively legalized in the country through a Supreme Court decision five years ago).
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As well as this, Fox will continue to hold an option to acquire 18.6% of FanDuel (which it secured last year after a lengthy arbitration process), while the corporation already holds a 2.5% stake in Flutter.
This move comes soon after the PointsBet firm sold off its US sports betting division to Fanatics, for $225 million.