FOX Bet launches in Michigan as more states legalize sports betting
FOX Bet CEO Kip Levin on growth in the sports betting industry ahead of the Super Bowl.
A busy week is an understatement for FOX Bet CEO Kip Levin.
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Just days before Super Bowl LV, FOX Bet launched live sports betting in Michigan, making it the fourth state to have legalized online sports gambling, joining New Jersey, Pennsylvania, and Colorado.
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The Super Bowl matchup between the Tampa Bay Buccaneers and Kansas City Chiefs is driving huge interest, and just a few days after launch, Levin is saying that the numbers “are really looking great.”
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“It’s early days, but if you look at how fast the overall market has grown there are now over 20 states that have some form of legal sports betting now live and up running,” Levin said during an appearance on FOX Business. “There are probably another 10 to 15 states that are in active legislation around getting it live hopefully this year. So, it’s moving quickly. There’s broad interest, and obviously big dollars, as well as the states under the current environment an opportunity for them to legalize it, regulate it, and get the tax dollars that come with it too.”
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During the 2020 NFL season, the FOX Bet Super 6 was really successful. Levin said that there are over $4 million customers who are signed up and playing on a weekly basis.
Levin said that FOX Bet will have a Super 6 game for the Super Bowl, adding that anybody can play.
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“It’s free to enter,” Levin explained. “We’re giving away $250,000 in prizes every week. We gave out over a couple million dollars through this NFL season… And we’re taking an advantage of all the interest in the stock market now. So there’s even a game that we’re running, free to enter, predict what’s going to happen in the stock market this week, and win $10,000.”
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According to a survey by Qualtrics, 51% of Americans are expected to make a wager of some sort on the big game, and 43% of the people said that they will put at least $100 on it.
Tom Brady and the Buccaneers will square off against Patrick Mahomes and the Chiefs in what should be a Super Bowl for the ages. So you can expect a lot of action on the final game of the 2020 NFL season.
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