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ESPN Bet Wants To Challenge the Sports Gambling Duopoly. What Are Its Chances?

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

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