ESPN has announced the launch of a fresh wagering platform, ESPN BET, catering to U.S. sports enthusiasts, allowing them to partake in sports betting, as revealed on Tuesday.
The recently rebranded sportsbook, a facet of the $2 billion accord struck between the sports broadcaster owned by Disney and the colossal sports betting entity Penn Entertainment, is slated for release this autumn in the 16 states where both betting is lawful and Penn Entertainment holds licensure. This information comes courtesy of an ESPN press release.
Penn Entertainment is set to revamp its existing sportsbook, Barstool Sportsbook, to align with ESPN’s aesthetics and nomenclature. The rebranded platform will be accessible through a mobile app, website, and mobile website.
Concurrently with this arrangement, Penn has also communicated that it has relinquished ownership of Barstool Sports back to its founder, David Portnoy, who officially confirmed this move on Tuesday. This transfer follows Penn’s majority acquisition of Barstool Sports in February.
Despite ESPN’s comprehensive coverage of sports betting across its various platforms, this event signifies the inaugural occasion when U.S. residents can actively place bets via ESPN’s digital channels. The 16 states where participation will be feasible include: Arizona, Colorado, Iowa, Illinois, Indiana, Kansas, Louisiana, Massachusetts, Maryland, Michigan, New Jersey, Ohio, Pennsylvania, Tennessee, Virginia, and West Virginia.
In 2022, legalized sports betting amassed $7.5 billion in revenue—a substantial 63% surge from 2021, as reported by the American Gaming Association.
This news was first published in CBS NEWS.
