FOX Bet may be shutting down, but it is still responsible for settling outstanding wagers with its customers, including grading that action as a win in some instances.
Flutter Entertainment PLC and Fox Corp. announced earlier this week that their legal sports betting partnership, FOX Bet, will shut down by the end of August for “commercial reasons.”
The coming closure prompted questions from FOX Bet users about their balances and pending bets. For the former, online FAQs tell customers in Colorado, Michigan, New Jersey, and Pennsylvania that they can access their account as they normally do until the end of this month for withdrawals or they can contact customer support for assistance.
If users are in a state where possible, they can also use their FOX Bet balance to play on PokerStars or PokerStars Casino.
Winner, winner?
When it comes to wagering, FOX Bet posted on X (formerly Twitter) that it is no longer accepting bets. As for outstanding wagers, the bookmaker is telling Colorado users that bets placed before July 31 for events that occur before August 31 will be settled according to their results. Bets on events occurring after August 31 will be settled as winners on or before September 1, the operator added.
“Where multiple bets have been placed on the same event, the customer’s bet with the largest potential payout will be settled as the sole winner,” FOX Bet says.
Avoid the void
The FAQ for Michigan, New Jersey, and Pennsylvania users contained no additional information about pending wagers with their respective sports betting sites.
That said, FOX Bet is likely going to be on the hook for at least some, if not all, pending action. In New Jersey, the Division of Gaming Enforcement (DGE) told Covers that the state’s rules restrict operators from voiding future or pending wagers without approval from the regulator.
“This includes situations when a sportsbook announces plans to shut down,” the DGE said in an email. “In these circumstances, DGE requires all operators to honor pending wagers, settle with customers who have pending wagers, or pay them these future/ pending wagers as winners, consistent with the regulation.”
A spokesperson for the Michigan Gaming Control Board (MGCB) referred Covers to the FOX Bet website for specifics but also noted that bettors could receive some generous treatment from the bookmaker.
“Wagers on events that occur in August will be settled in August,” the MGCB said. “Wagers on events that occur after August will be settled as winning wagers.”
