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It’s Coming

from Axios

1 big thing: Media companies wade into betting

By Sara Fischer

Illustration: Aïda Amer/Axios

The legalization of sports betting has opened up new business opportunities, and ethical challenges, for some of America’s biggest media companies.

Why it matters: Striking the right balance between leaning into betting — and not alienating casual fans or compromising journalistic principles — will force the establishment of new media boundaries.

Driving the news: Fox announced the most aggressive push into domestic sports betting this month with the introduction of “Fox Bet,” an online betting app.

  • Fox Corp. is buying 5% of Canadian gaming and online gambling company Stars Group Inc. for $236 million. In doing so, it will be starting its own sports wagering platform, a major step for a U.S. sports broadcaster.
  • And in December, mobile sports app theScore announced that it planned to launch its own mobile sports book, beginning in New Jersey.

Between the lines: Other TV networks with sports broadcast rights are taking a more cautious approach.

[ continue reading at Axios ]

Posted on June 4, 2019 by Editor

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