The highly anticipated launch of ESPN BET was finally done on Tuesday and it will be available in 17 states in America. live
These states are Arizona, Colorado, Illinois, Indiana, Iowa, Kansas, Kentucky, Louisiana, Maryland, Massachusetts, Michigan, New Jersey, Ohio, Pennsylvania, Tennessee, Virginia, and West Virginia.
ESPN BET, a sportsbook supported by ESPN will succeed Barstool Sportsbook in the US mobile gambling industry. It was established through a collaboration between ESPN and PENN Entertainment. Customers of Barstool Sportsbook had their account details transferred to the ESPN BET platform.
We’re extremely proud to introduce ESPN BET and look forward to delivering an exceptional customer experience to fans across the U.S.
Today’s launch is the culmination of months of hard work across both teams and we could not be more excited to roll out ESPN BET in partnership with ESPN. PENN’s operational excellence paired with ESPN’s unmatched brand and reach is a powerful combination that will drive this compelling new sportsbook.Jay Snowden, CEO PENN Entertainment
A key Monday Night Football game between the Philadelphia Eagles and Kansas City Chiefs is scheduled to take place a week or so before the sportsbook debuts.
The specific nature of ESPN BET’s integration with live TV shows is unknown, however, it’s likely that the app will be brought up during the Super Bowl rematch.
The arrival of ESPN BET follows PENN Entertainment’s relationship with Barstool Sports, which did not have the desired impact on mobile sports betting because Barstool Sportsbook could not live up to PENN’s expectations. PENN acquired Barstool Sports for $551 million over a number of years and then sold it back to Dave Portnoy for $1.
PENN thinks its new partnership will be able to compete with FanDuel and DraftKings, who together own over 70% of the US market for mobile sports betting. By 2027, PENN wants to have a 20% market share.
As part of their exclusive agreement, PENN and ESPN agree that the gaming operator will give ESPN $1.5 billion in cash payments spread over ten years. The agreement may be dissolved after three years if PENN fails to meet specific market-share objectives.
In the third-quarter earnings call, Snowden disclosed that the success of ESPN BET will depend on its quick launch and subsequent client acquisition phase. With its debut on Tuesday, Penn marks the beginning of a new chapter in its history and an immediate attempt to leverage ESPN’s popularity.