Nov 18, 2023
With this week’s launch of the newest U.S. sportsbook, a Goliath gets to feel what it’s like to be David.
ESPN Bet is now live in 17 states — but it’s starting off with about a 2% market share of American sports gamblers.
That market share comes from the remnants of PENN Entertainment’s Barstool Sportsbook product, which has been folded into a $2 billion partnership to license ESPN branding. PENN will pay Disney $150 million annually for the next 10 years and is granting Disney about $500 million in stock warrants to purchase PENN shares.
Source: Front Office Sports