Fox Sports to Launch Fox Bet for Sports Gambling

Fox Sports is launching Fox Bet, and has become the first major American sports network to make a move into gambling. The purchase of a 5% stake in The Stars Group – the parent company of PokerStars – will allow Fox Sports to acquire half of the group’s US business after a decade. It marks the first time a major US broadcaster has moved directly into gambling, with the restrictive regulations previously hindering any potential tie-ups. Now the broadcaster looks to be buying into gambling and will likely use its network and sports content to cross-promote gambling across its properties….