As of Monday morning, there is one less sportsbook offering legal sports betting in New Jersey.
Fox Bet Sportsbook, a joint venture between Fox Corporation and Flutter Entertainment plc, stopped taking wagers in the early hours of July 31, the two sides announced.
All customer accounts will be accessible until Aug. 31, 2023. Funds, balances and bet history will remain in accounts until that date.
The closure affects online sports gamblers in NJ, Pennsylvania and Michigan, according to Fox Bet’s FAQ page. Fox Bet Sportsbook was also available in Colorado.
Bean-counting behind sports betting in NJ
Fox Bet was launched in 2019 by Fox Corp and The Stars Group, which was acquired by Flutter in 2020. Flutter also owns FanDuel Sportsbook. In fact, the Fox Bet FAQ page directs customers to its “sister brand,” FanDuel Sportsbook NJ.
The two sides have been negotiating a deal involving FanDuel for some time. Fox will continue to hold its option to acquire 18.6% of FanDuel. It currently holds a 2.5% stake in Flutter.
Fox Corp will retain future use of the Fox and Fox Bet brands, including Fox Bet Super 6. A press release indicated that the company intends to launch an all-new Fox Super 6 game later this summer.
After Aug. 31, FOX Bet Sportsbook users can access their existing funds through either the PokerStars or PokerStars Casino apps.
Still plenty of NJ sportsbooks to choose from
There are currently 20 online NJ sports betting apps, according to state regulator data. Fox Bet Sportsbook operated in the Garden State under Resorts Digital Gaming LLC’s license, along with DraftKings Sportsbook. Resorts Casino Sportsbook also operated under the RDG license until it closed shop earlier this year.
New Jersey gambling regulators do not publish monthly revenue data for individual operators. All revenue reporting is attributed to the licensed Atlantic City casinos, racetracks or digital gambling entities.
Through June, the Resorts Digital Gaming grouping had reported the second-most online NJ sports betting revenue. According to the NJ Division of Gaming Enforcement, the grouping generated $119.3 million in revenue through the first six months of 2023.
Only Meadowlands Racetrack – which includes FanDuel, PointsBet Sportsbook and SuperBook – has posted a higher total. Those three operators generated nearly $214.9 million in revenue, with the bulk of that assumed to be from FanDuel.