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News Corp closes in on FOX Bet launch deal with gambling guru Tripp

By Patrick Hatch and Zoe Samios

May 30, 2021 — 5.30pm

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Rupert Murdoch’s News Corp Australia is in advanced talks with a consortium backed by high-profile bookmaker Matthew Tripp to launch a new wagering outfit that would reshape both the local industry and the battle for Tabcorp’s betting division.

Industry sources, who spoke anonymously because the discussions are confidential, said News Corp is also in talks with US media business Fox Corp, which is also controlled by the Murdoch family, to secure licensing rights to use the FOX Bet brand for the new business.

Fancy a punt? Fresh from make a smart investment in US sports bookmaker FOX Bet, Rupert and Lachlan Murdoch’s team have turned their attention to Australia’s wagering market. CREDIT:SMH

Fox Corp was previously interested in establishing the FOX Bet brand in Australia with the help of another wagering company. But The Age and The Sydney Morning Herald can reveal the brand is expected to be operated by the Murdochs local media arm, News Corp, marking its first major play in the local wagering industry. News Corp declined to comment.

News Corp asked for expressions of interest among Australia’s established bookmakers last year to find a local partner to launch FOX Bet but sources said its preferred option is now to launch as a standalone outfit with equity partners tied to local online gambling pioneer Mr Tripp, the former boss of Sportsbet and founder of BetEasy. Neither deal had been formalised but the talks were advanced, the sources said.

News Corp partnering with the consortium linked to Mr Tripp could also reshape the battle for Australia’s largest bookmaker, Tabcorp’s TAB, after Mr Tripp fronted a $4 billion cash-and-scrip bid by ASX-listed wagering technology outfit BetMakers for the division on Friday morning.

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While BetMakers is not directly involved with the consortium looking to launch FOX Bet, it would provide the back-end systems News Corp would need to establish its wagering operations in Australia, according to one source briefed on the consortium’s strategy.

Meanwhile if BetMakers’ bid for TAB is successful, Mr Tripp’s involvement in both groups would likely result in it taking over FOX Bet and operating the two brands side-by-side, the source said.

This is in line with Mr Tripp’s vision of reviving TAB by launching a second brand targeting younger punters who are more interested in punting on sports than racing.