ESPN Bet Shuts Down As ESPN Signs New Deal With DraftKings
Source: Brett Carlsen / Getty
ESPN and Penn Entertainment which operated its ESPN BET service, have mutually agreed to part ways, multiple outlets reported on Thursday. ESPN has signed a new deal with DraftKings that is expected to boost its gambling options and increase branded content across its platforms.
ESPN and Penn Entertainment signed the deal in 2023, which was expected to run for 10 years. But ESPN BET was losing ground to other services like DraftKings and Fan Duel and never quite gained traction in the lucrative sports betting market. DraftKings will now be ESPN’s exclusive draft book and odds provider.
“Our betting approach has focused on offering an integrated experience within our products,” Jimmy Pitaro, ESPN’s chairman, said in a statement. “Working with DraftKings, a leader in the space, will allow us to build upon that foundation, continue to super-serve passionate sports fans and grow our ESPN direct-to-consumer business.”
The transition will happen on Dec. 1, when ESPN BET users will be moved to Penn Entertainment’s platform, which will most likely be rebranded to theScore Bet. It’s expected that personal account information and balances will transfer over. That also means that you’ll see DraftKings across ESPN platforms, integrated onto the website, the app, and on its TV shows and sports telecasts. If you already use DraftKings it’s a win, as you can now seamlessly see ESPN content and place bets on games when you log in.
DraftKings currently has 10 million users across 28 states and Washington, D.C. and also operates in Ontario, Canada.
“ESPN’s unmatched visibility across the world of sports make this collaboration a natural fit,” Jason Robins, CEO and co-founder of DraftKings said. “As an innovative leader in digital sports entertainment, DraftKings is uniquely positioned to integrate our technology and products with ESPN’s iconic brand and storytelling power.
It appears that despite the recent gambling scandal in the NBA, which resulted in the arrests of Houston Rockets coach Chauncey Billups, Miami Heat guard Terry Rozier and former player Damon Jones, major sports leagues are doubling down on betting with no end in sight. ESPN obviously believes it will serve those customers better with the new deal.
“Together, we’re delivering a seamless, engaging and responsible experience that elevates how fans connect with live sports,” Robins said.
Learn more about the gambling scandal below.
