We didn't need more confirmation that sports betting in New Jersey is continuing to grow and find its way into the mainstream, but we have it anyway as the Fox Bet app goes live in the Garden State with impeccable timing.
History in this market was made in the final days of August 2019 as Fox Sports officially became the first major American media outlet to put its name on a sports betting platform. Following a partnership with online gaming giant The Stars Group in May, plans were put in motion to rebrand the BetStars NJ sports gambling platform into Fox Bet. Just over three months later, the Fox Bet app is officially here in time for the 2019 NFL schedule to kick off, which should lead to a successful debut in September.
Fox Bet NJ Brings Familiar Name To Online Sports Betting
The historic partnership between The Stars Group and Fox Sports has enabled a new, but familiar name to throw in its hat in the sports gambling ring. Fox already has its prints all over the pro football landscape with the network owning broadcasting rights to regional NFL games on Sundays as well as Thursday Night Football on national television. Players can now watch football and wager on it under one roof so to speak (albeit different physical apps), which could be a gamechanger for the industry.
There have been other massive media companies with rights to broadcast sports like Comcast and Disney, but they've chosen to watch from afar when it comes to getting involved in legal sports gambling, but Fox Bet sees past the negative stigma still associated with the industry and into the future as it pushes full-steam ahead. Fox Sports CEO Eric Shanks is aware many Fox Sports consumers are already involved in sports betting and he believes this partnership could set the benchmark for how sports are consumed in the United States moving forward.
The reality is that betting on sports has never been more mainstream, especially in states like New Jersey where over $100 million in revenue was grossed in little more than half a year at the start of 2019. Once we add in the fact that football is the most popular sport in the country and the schedule is just getting started in both the collegiate and professional ranks, we can see the enormous amounts of earning potential. At the time of the initial agreement, Shanks referred to the opportunities that come along with launching a sports betting product and discussed diversify the company's revenue stream.
Fox Bet NJ Takes Over BetStars Online Sports Betting Brand
As part of the partnership between Fox and The Stars Group, FoxBet NJ is effectively replacing BetStars in the Garden State. BetStars NJ struggled to compete with the likes of FanDuel and DraftKings, and the name-brand upgrade to Fox on the platform header should propel the business in the same direction as the two aforementioned industry giants.
The deal inked in May included an investment of over $235 million from Fox in exchange for nearly five percent equity in The Stars Group. Fox also obtained an option to acquire up to 50 percent of the company if the action is taken within the first 10 years of the partnership. The Stars Group obtained also obtained the rights to tout the FOX brand in territories where it gains access.
Fox Sports Is Taking Advantage Of Its TV Personalities
When you go to the new Fox Bet app, it isn't hard to see the influence of Fox Sports. Everywhere you look, there is one of the company's many TV personalities such as Colin Cowherd or ex-NFL star Cris Carter. But it isn't just for looks. The company is tying in sports betting picks and promotions with each of their TV personalities. As of now, we count up to nine specialty Fox Bet promotions. Here are just a couple that may catch your eye:
Colin Cowherd's Blazin' Five
The concept is simple, Colin makes five NFL against-the-spread picks every Sunday. If he has a winning week, you double your money! To be more specific, if three or more of the teams cover the spread then the bet is a winner and you double your money. The max bet on this promotion is $100.
Monday's Featured Bet Boost By Cris Carter
Want advice from a pro? Well, Cris Carter has got your back. After analyzing the next upcoming Monday Night Game, Carter makes decides on the best value play. With that decision comes a special Fox Bet odds boost to help you have a chance to win even more money.
How Does Fox Bet NJ Work?
Aside from a new-look interface along with the addition of some new amenities and features, not much is changing aside from the name of the site. The rebranding doesn't have any effect on existing player accounts for both BetStars and its sister-site PokerStars, which remained the same aside from a transferring over to the Fox Bet NJ site.
In terms of promotions, bettors can expect to claim $20 in free cash just for creating an account and then have the chance to earn a 100 percent deposit match up to $100 while entering funds onto the site. The FoxBet app also features a lengthy list sports including the following:
- Football (NCAA and NFL)
- Motor Sports
Along with a wide range of sports, the Fox Bet NJ app includes a range of bet types including moneylines, spreads, parlays, futures, props and in-game betting. A feature called 'Bet Boosts' increases odds in existing markets while Custom Bets are markets suggested by players with lines created by the sportsbook, showing Fox Bet to be an interactive platform like many of the best NJ sportsbooks.
Fox Bet PA To Join List Of Sports Betting Sites In Pennsylvania
Immediately after officially rebranding itself from BetStars To FoxBet NJ, the company is wasting no time moving into other territories with recently-launched online sports betting operations. Just days after going live in the Garden State in late August, operations are getting up and running in the Keystone State next door just in time for the NFL season to begin in early September.
Mobile gambling in neighboring Pennsylvania only went live in late May, so Fox Bet PA is joining a less saturated market than the one in New Jersey. In fact, DraftKings Sportsbook isn't even live in the state, which could give Fox a leg up. Despite its massive 34 percent tax rate, the state pulled in nearly $3 million in revenue in just two full months during the quiet time of the year. As the football season progresses, these upcoming later months of the year will show us where Fox Bet stands in both states moving forward.