On Tuesday, ESPN announced the launch of a new gambling platform, ESPN BET, allowing U.S. fans to participate in sports betting.
According to a press release, This rebranded sportsbook, part of a $2 billion deal between Disney-owned ESPN and Penn Entertainment, will be available in 16 states this fall, where sports betting is legal and Penn Entertainment is licensed.
“Our primary focus is always to serve sports fans, and we know they want both betting content and the ability to place bets with less friction from within our products,” said Jimmy Pitaro, the chairman of ESPN. “The strategy here is simple: to give fans what they’ve been requesting and expecting from ESPN.”
Penn Entertainment is rebranding its current sportsbook, Barstool Sportsbook, to align with ESPN’s brand. This rebranding will be accessible through mobile apps and websites.
“The regulated industry is probably not the best place for Barstool Sports and the type of content we make,” Barstool Sports founder David Portnoy said. “For the first time in forever, we don’t have to watch what we say, how we talk, what we do…I’m never going to sell Barstool Sports, ever.”
ESPN, known for covering sports betting, will allow Americans to place bets through its digital platforms for the first time. This service will be accessible to residents of 16 states, including Arizona, Colorado, Iowa, Illinois, Indiana, Kansas, Louisiana, Massachusetts, Maryland, Michigan, New Jersey, Ohio, Pennsylvania, Tennessee, Virginia, and West Virginia. Additionally, they plan to create a “responsible gaming” committee.
“This agreement with ESPN and collaboration on ESPN BET allows us to take another step forward as an industry leader,” said Jay Snowden, CEO and president of Penn. “Together, we can utilize each other’s strengths to create the experience that existing and new bettors will expect from both companies, and we can’t wait to get started.”
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