Those companies gained even more steam in recent years as additional states legalized online sports gambling. Revenue at DraftKings, FanDuel, Caesars Sportsbook and BetMGM soared during the pandemic as more fans with time on their hands placed bets. The broadcaster wants to grow revenue by serving sports gambling fanatics, while Penn was looking for a new sports betting partner after severing its partnership with Barstool, Brandt said,įor both companies, what's at stake is grabbing a piece of the rapidly growing sports gambling industry. The states that first will offer ESPN Bet are:Ĭreating ESPN Bet is a strategic move for both Penn and ESPN. They think they can offer a better product.' 'They want to make it like one-stop shopping where you go to check the score and there's your betting opinions right there.
Some gambling is only legal in certain places, by specific methods, under detailed. 'ESPN and Penn believe they can infiltrate this market,' Andrew Brandt, a sports business professor at Villanova University, told CBS MoneyWatch. Gambling in Florida can be, well, a gamble.
