ESPN BET Launching This Fall

By: Jeremy Brandspiegel

ESPN announced they finalized an agreement with PENN Entertainment to launch a betting platform in partnership with ESPN, according to the ESPN Press Room. PENN Entertainment will be rebranding their sportsbook and it will be called ESPN BET. The sportsbook, which will be launching this fall, will be legal in 16 states. The platform will have its own website and app where users can track odds and place bets.

The decision by ESPN to launch their own sportsbook does not come as a surprise. With Americans betting over $200 billion dollars in the past 5 years according to PBS News Hour, it makes a lot of sense that the worldwide leader in sports will be launching its own sportsbook. ESPN Chairman, Jimmy Pitaro, said, “The strategy here is simple: to give fans what they’ve been requesting and expecting from ESPN. PENN Entertainment is the perfect partner to build an unmatched user experience for sports betting with ESPN BET.”

Over the past few years ESPN has produced sport betting content through radio, television and online, but they have yet to create their own platform. ESPN BET will be the exclusive sportsbook of ESPN and Penn Entertainment will benefit from promotions, media services, talent partnerships and more.

Looking back at 2021, FanDuel was America’s leading sportsbook, making $1.9 billion in revenue. In 2nd place was DraftKings with $1.3 billion in revenue. With ESPN being where many sports fans get their news, watch games, check scores and participate in fantasy sports leagues, the betting platform should be a quick success.

ESPN joining the industry competition goes to show just how big the sports betting market is. With betting numbers climbing higher each year, news such as ESPN launching their own betting platform should continue to be expected.