The US$40 billion market for online poker is worth US$7 billion, according to a study released by The Associated Press (AP).
Fox Sports has a partnership with The Guardian which will bring online poker to a wider audience in the UK and Australia in the next few years.
In an interview with Bloomberg TV’s Money Talk on Thursday, Fox Sports president of sports content Michael DeWitt said the streaming service is an extension of the existing partnerships with major brands like Nike and Adidas, and the first step to building a global audience.
“We have the best athletes in the world,” DeWit said.
“They have the most money, they have the biggest fan base, they can be our ambassadors for us.”
DeWitt told the Bloomberg TV Money Talk panel that the partnership with the Guardian would enable Fox Sports to “break the barrier” for poker in the US.
He said the partnership is part of Fox Sports’ broader strategy to build a global brand that appeals to an increasingly global audience, including younger consumers.
“The key thing is to get to a point where you can reach the younger audience who have a deeper connection to the brands, brands that are not necessarily on the forefront of sports,” Dewitt said.
He continued: “We have a very loyal fan base that is very engaged in the sports they love.”
In August, the US Federal Trade Commission (FTC) fined Fox Sports for misleading the public by advertising on PokerStars.
The FTC found that the company misled users about its product offerings and the number of players available for online betting.
The AP reported on Thursday that Fox Sports has been in talks with PokerStars, but it is unclear if those talks have progressed.
Fox Sports had previously said it was exploring other ways to bring online Poker to the UK.