FOX Bet Unites Forces with FanDuel: Dominating the Sports Gambling and Media Scene with 2020’s Epic Mega-Merger

The Latest Merger: FOX Bet and FanDuel Acquisition

The world of gambling and media is undergoing a significant transformation with the official completion of the merger between FOX Bet, its parent company Flutter Entertainment, and FanDuel. This exciting development foreshadows a future dominated by monolithic corporations and the rise of in-game wagering from the comfort of our own homes.

Creating a Media-Gambling Juggernaut

FOX Bet and Flutter Entertainment now hold a staggering 95% stake in FanDuel following the $4.2 billion acquisition. To seal the deal, Dublin-based Flutter will acquire an additional 37% stake in FanDuel from Fastball Holdings for the agreed-upon sum. The transaction, set in motion last Thursday, is expected to be approved by shareholders by the end of the month.

Fastball Holdings, a collaborative effort between Google Ventures, Comcast Ventures, KKR, Verizon Ventures, NBC Sports Group, and Shamrock, will retain a 7% stake in Flutter once the acquisition is complete. The remaining amount will be settled in cash, totaling approximately $2 billion.

Murdoch Family Expands Gambling Ventures

This strategic move not only solidifies Flutter’s position in FOX Bet, initially acquired during Flutter’s merger with Canada’s Stars Group in 2019, but also terminates Fastball’s economic relationship with FOX Bet. Lachlan Murdoch, the Executive Chairman and CEO of FOX Corporation, emphasizes their long-term commitment to Flutter and mentions that the deal will likely result in increased involvement by FOX Sports, which is owned and operated by the Fox Corporation.

In addition, as part of the agreement, FOX has the option to purchase an 18.5% stake in FanDuel in July 2021. Murdoch recognizes the highly engaged audience of FOX, particularly with regards to free-to-play and wagering content, and expresses excitement about offering them access to Flutter’s market-leading brands in the United States.

Implications for the Media-Gambling Landscape

The significance of this deal extends beyond the immediate parties involved. The roots of this acquisition can be traced back to May 2018 when Flutter Entertainment first merged with FanDuel with the aim of expanding their US sports betting business. FanDuel, originally founded in 2009 as a daily fantasy sports operator, now operates sportsbooks in several US states, including top performers like New Jersey, Pennsylvania, and Indiana.

Flutter Entertainment, listed on the London Stock Exchange, emerged in September 2015 following a merger between Ireland’s Paddy Power and British rival Betfair. The company’s ownership is divided between former Paddy Power and former Betfair shareholders.

The Rise of Multinational, Cross-Branded Mergers

This merger between FOX Bet, Flutter Entertainment, and FanDuel is just one example of the ongoing trend within the media and gambling industries. In September, Caesars Entertainment acquired Britain’s William Hill for a staggering $3.9 billion, effectively combining a prominent brick-and-mortar gambling company with a well-established international sportsbook.

Not long after, Sinclair, a major regional US news network, entered into an $85 million partnership with Bally’s. This partnership aims to rebrand 190 broadcast stations, 21 regional sports networks, the Tennis Channel, and the 24-hour sports network Stadium, all under the Bally’s name. The objective is to provide consumers of live sports with a more dynamic and engaging viewing experience.

The Future of Media-Gambling Conglomerates

As these mergers and acquisitions continue to shape the industry, we can expect to see a future dominated by multinational, cross-branded conglomerates. The integration of media and gambling opens up new possibilities for engaging audiences and capitalizing on the growing popularity of sports betting.

With Flutter Entertainment’s strengthened position in the American market, combined with FOX’s vast audience reach, both companies are poised to flourish in the evolving landscape of media and gambling.


The merger between FOX Bet, Flutter Entertainment, and FanDuel marks a significant milestone in the media-gambling industry. This strategic move paves the way for the creation of a powerful conglomerate that combines the expertise of both companies. As the media landscape continues to evolve, it is clear that the integration of gambling and media will play a pivotal role in shaping the future of entertainment.

Frequently Asked Questions

1. How does the merger impact the gambling and media industries?

The merger between FOX Bet, Flutter Entertainment, and FanDuel signifies a growing trend of consolidation within the gambling and media sectors. By combining forces, these companies aim to leverage their expertise and resources to capitalize on the burgeoning sports betting market.

2. What are the potential benefits for consumers?

Consumers can expect a more seamless and engaging betting experience as a result of this merger. The integration of media and gambling will likely lead to innovative products and features that enhance the overall entertainment value for users.

3. How does Flutter Entertainment’s acquisition impact FOX Bet?

Flutter Entertainment’s acquisition of FanDuel strengthens its position in FOX Bet and represents a long-term commitment to the company. This move bolsters the competitive edge of both entities in the rapidly expanding US gambling market.

4. What are the future prospects for the media-gambling conglomerates?

The future looks promising for media-gambling conglomerates as they continue to adapt to the evolving preferences of consumers. By seamlessly integrating gambling and media, these conglomerates can provide a comprehensive entertainment experience that caters to a diverse range of audiences.

5. Are there any regulatory challenges that may arise from these mergers?

As the gambling and media industries converge, regulatory bodies will undoubtedly scrutinize these mergers and monitor their impact on market competition. It will be crucial for these conglomerates to navigate any potential regulatory challenges to ensure a fair and transparent gambling environment.

Doug I. Jones

Doug I. Jones

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