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Major League Baseball has always had gambling issues, from the Black Sox scandal to Pete Rose, but that has all changed with sports betting now legalized in the United States. MLB now has four official wagering partners, with the Fox Bet sportsbook the latest to join a list that also includes MGM Resorts, DraftKings and FanDuel.
The partnership between MLB and Fox Bet will be nearly the same as the first three US sportsbook operators. The new deal will guarantee a range of cross-promotional opportunities that will give Fox Bet greater access to baseball fans in the United States.
There have not been any details on the partnership in terms of the exact conditions and the length of the initial agreement. It is a partnership of more than one year and there are many benefits for each party. Fox Bet will be allowed to use a variety of trademarked material, including MLB logos and team logos, as well as the league’s data feed.
Fox is also a partner with the Stars Group, and they worked in unison in creating Fox Bet. The Fox Bet sportsbook has the goal of taking a chunk of the quickly emerging sports betting market in the United States and first they are going for a stake in the New Jersey sports betting market, which enjoyed its biggest month ever in September. However, there is more to Fox Bet than having a share of the gambling market in the US.
Last month there was a big acquisition that may alter the US gambling landscape. The deal, which was all in stock, saw Flutter Entertainment take over the Stars Group in a big-money buyout. That deal means Flutter, who is a FanDuel parent company, is now the sole owner of Fox Bet. In part of the agreement, which has not been finalized yet, Fox Bet was given an option to buy a FanDuel stake up to 18.5%.
In the deal between Fox Bet and MLB, Flutter has promised a high-quality mobile and online betting experience that rival the platforms on offer at the DraftKings and MGM sportsbooks. Flutter has also made assurances that betting information on Fox Bet and FanDuel will be just the same for all MLB games.
There will likely be in-game Fox Bet promotions and stadium promotions, as will be the case for the other three sportsbooks that MLB is in partnership with as well. That is the main goal of Fox Bet, as they want their brand to be seen by as many MLB fans as possible to increase their business.
The main goal of MLB in these sportsbook partnerships is not a secret, as they simply want more profit. The more MLB licenses are sold, the more revenue there is to be gained from sports wagering.