After almost four years, FOX Bet is shutting down.
FOX and Flutter plan for the betting business to close down within the month according to reporting from both Bloomberg and Reuters.
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FOX Bet was launched in 2019. FOX originally partnered with Canadian gambling company The Star Group before it was acquired by Flutter. Flutter is the parent company of FanDuel.
FOX will retain its right to buy an 18.6% stake in FanDuel. Flutter sued FOX in 2021 over a disagreement regarding the price of the stake.
Last year, Lachlan Murdoch told Axios that he had been disappointed with FOX Bet’s performance. The platform only had 6.5 million users and was struggling to find more players.
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