A new historic sports wagering partnership between the Stars Group and an American giant has been described by an island betting expert as a ’match made in heaven.’

The Stars Group Inc. and Fox Sports, partof Fox Corporation, has announced plans to launch Fox Bet, the first-of-its kind national media and sports wagering partnership in the United States.

The Stars Group and Fox Sports have entered a long-term commercial agreement through which Fox Sports will provide The Stars Group with an exclusive licence to use certain Fox Sports trademarks.

The Stars Group and Fox Sports expect to launch two products in the autumn of 2019 under the Fox Bet umbrella.

One of those will be a free-to-play game across America, which will see punters predict the outcome of sports games to try and win cash prizes.

The second, Fox Bet, will provide the US with a sportsbook simiar to the UK, facilitating real-money betting on ’a wide range of sporting events.’

Rafi Ashkenazi, chief executive officer of The Stars Group, said: ’We believe this strategic partnership uniquely positions us to build a leading betting business in the U.S., which represents one of the most exciting long-term growth opportunities for our company.

’Leveraging our proven media partnership strategy with Sky Sports in the UK, we are excited to partner with Fox Sports to integrate wagering into sports media and drive customer acquisition and retention in the US.’

Warwick Bartlett, chief executive of the Global Betting and Gaming Consultants, (GBGC) based in Arbory Street, Castletown, reacted to the news.

He told Business News: ’The acquisition of 4.99% of The Stars Group (TSG) equity by Fox Corp is one of the most significant deals in the new sports betting market in the US and is an endorsement of TSG’s acquisition of Skybet.

’Skybet was part of Sky television before it was sold to the private equity company CVC Capital Partners, and then sold on to TSG.

’The Murdoch family have seen the benefits of the symbiotic relationship between sports betting and sports broadcasting through their ownership of Skybet, and they wish to replicate that relationship with their US broadcaster Fox.

’Fox Corp owns the number one cable news channel and networks in the US. It also has the broadcast rights to NFL and MLB games, college football and World Wrestling Entertainment matches. I believe it will continue to add to its already extensive menu of sports rights and coverage, and pair live sports broadcasts with live betting markets on the same screen. We have seen in the UK that the combination of live sports and betting has substantially driven user engagement.

’GBGC estimates that Skybet grew from small beginnings to take between 10% and 12% of the UK online sports betting market.

’It also ranked very high on customer satisfactions surveys.

’Skybet has always been at the forefront of innovation and its mobile-first strategy assisted them in taking market share of in play betting on football and tennis.

’Fox data has stated that 27 percent of Americans will be willing to bet with the company’s brand which is more than double the other prominent brands.

’Betting companies in the UK have faced a plethora of costly regulation and tax increases so this deal for Stars to partner with a prominent and trusted brand in the US is a major diversification away from other markets that carry more business risk.

’This is a win win deal for both Stars and Fox, a match made in heaven.’

Stars Interactive, the online gaming division of The Stars Group, is headquartered in the island, at the Douglas Bay Complex, King Edward Road, Onchan - the home of Poker Stars.

The parent company, Stars Group Inc, is based in Canada.

Eric Shanks, chief executive officer and executive producer of Fox Sports said: ’Fox Sports is already synonymous with the best live sports events in the country and now we are expanding the way we immerse fans in the sports culture they love.

’Digital sports wagering represents a growing market opportunity that allows us to diversify our revenue streams, connect directly with consumers and expand the reach of the Fox Sports brand.’

Under the commercial agreement, Fox Sports will grant to The Stars Group an exclusive licence for the use of certain Fox Sports trademarks for a range of immersive games and online sports wagering, and certain exclusive advertising and editorial integration rights on certain Fox Sports broadcast media and digital assets.