HealthSports bettingWalt Disney Co ESPN Bet, a rebranded sports gambling app from Penn Entertainment, is here by Lucas Garcia November 15, 2023 written by Lucas Garcia November 15, 2023 5 comments Bookmark 22 ESPN Bet, a sports betting application rebranded under the auspices of the Disney-owned sports network, made its debut on Tuesday in 17 states across the United States. This strategic move comes as a result of Penn Entertainment’s $1.5 billion agreement with ESPN, signed in August, which grants Penn the rights to utilize the esteemed ESPN brand while ESPN undertakes the task of promoting the app through its extensive online and broadcast platforms. While a Penn spokesperson confirmed the planned launch of the ESPN Bet app on Tuesday afternoon, precise timing details were not disclosed. This eagerly awaited rollout of ESPN Bet was slated to take place in the following states: Arizona, Colorado, Illinois, Indiana, Iowa, Kansas, Kentucky, Louisiana, Maryland, Massachusetts, Michigan, New Jersey, Ohio, Pennsylvania, Tennessee, Virginia, and West Virginia. Under the terms of the August agreement, Penn’s rights to the ESPN brand are initially secured for a decade, with the possibility of a 10-year extension. In addition to the $1.5 billion licensing arrangement, Penn also committed to bestowing ESPN with rights valued at approximately $500 million for the acquisition of Penn shares. It’s worth noting that ESPN Bet represents a rebranding effort of an existing sports betting application previously known as Barstool Sportsbook. In August, Penn disclosed that it had divested Barstool Sports back to its founder, Dave Portnoy. The imminent launch of ESPN Bet is poised to introduce Walt Disney Co. into relatively uncharted territory. Disney is renowned for diligently safeguarding its family-friendly image, which traditionally has not been associated with the realm of sports gambling. However, in light of the August agreement, ESPN has committed to utilizing its platforms for the purpose of educating sports enthusiasts about responsible gaming practices. This includes maintaining journalistic integrity in its coverage of the sports betting industry, establishing an internal “responsible gaming” committee, and formulating marketing guidelines designed to protect the well-being of fans. Table of Contents Frequently Asked Questions (FAQs) about Sports Betting LaunchWhat is ESPN Bet?When did ESPN Bet launch?What was the nature of the agreement between Penn Entertainment and ESPN?Which states saw the initial launch of ESPN Bet?How long will Penn Entertainment hold the rights to the ESPN brand?What is the significance of ESPN Bet’s rebranding from Barstool Sportsbook?How does the launch of ESPN Bet relate to Walt Disney Co.?What measures will ESPN take to promote responsible gaming?More about Sports Betting Launch Frequently Asked Questions (FAQs) about Sports Betting Launch What is ESPN Bet? ESPN Bet is a sports betting application that has been rebranded in partnership with Penn Entertainment, leveraging the renowned ESPN brand. When did ESPN Bet launch? ESPN Bet made its debut on a Tuesday in 17 U.S. states. However, specific launch time details were not provided. What was the nature of the agreement between Penn Entertainment and ESPN? In August, Penn Entertainment secured a $1.5 billion deal with ESPN, granting them the rights to use the ESPN brand for their sports betting service. In return, ESPN is responsible for promoting the app across its online and broadcast platforms. Which states saw the initial launch of ESPN Bet? ESPN Bet was initially rolled out in the following states: Arizona, Colorado, Illinois, Indiana, Iowa, Kansas, Kentucky, Louisiana, Maryland, Massachusetts, Michigan, New Jersey, Ohio, Pennsylvania, Tennessee, Virginia, and West Virginia. How long will Penn Entertainment hold the rights to the ESPN brand? Under the terms of the agreement, Penn’s rights to the ESPN brand are secured for an initial decade, with the possibility of extending for another 10 years. What is the significance of ESPN Bet’s rebranding from Barstool Sportsbook? ESPN Bet represents the rebranding of an existing sports betting app formerly known as Barstool Sportsbook. Penn Entertainment sold Barstool Sports back to its founder, Dave Portnoy, in August. How does the launch of ESPN Bet relate to Walt Disney Co.? The launch of ESPN Bet is notable because it brings Walt Disney Co., known for its family-friendly image, into the world of sports gambling. This represents a departure from Disney’s typical brand association. What measures will ESPN take to promote responsible gaming? As part of the agreement, ESPN has committed to using its platforms to educate sports fans about responsible gaming practices. This includes maintaining journalistic integrity in covering the sports betting industry, forming a “responsible gaming” committee within the company, and developing marketing guidelines to safeguard fans’ well-being. More about Sports Betting Launch ESPN Bet Official Website Penn Entertainment Details on the $1.5 Billion ESPN Deal Information about Barstool Sports Walt Disney Co. ESPN’s Responsible Gaming Commitment You Might Be Interested In Mobile Sports Betting: Why Some States are Booming While Others are Shying Away More states expect schools to keep trans girls off girls teams as K-12 classes resume Cleveland Guardians Hold 1-0 Advantage in Series Against Tampa Bay Rays Van Gundy, Kolber, Rose and Young are among roughly 20 ESPN personalities laid off U.S. Team’s Advancement to Knockouts Retains Significant Betting Stakes for Women’s World Cup ESPN strikes $1.5B deal to jump into sports betting with Penn Entertainment $1.5 billion dealESPN BetlaunchPenn EntertainmentrebrandingSports bettingsports mediaU.S. statesWalt Disney Co Share 0 FacebookTwitterPinterestEmail Lucas Garcia Following Author Lucas Garcia, a seasoned business reporter, brings you the latest updates and trends in finance and economics. With a keen eye for market analysis and a knack for spotting investment prospects, he keeps investors informed and ahead of the curve. previous post The bird flu outbreak isn’t over, but it’s less severe, helping egg and poultry prices recover next post New Zealand held a Bird of the Century competition. John Oliver got this puking bird to win You may also like Bookmark Enhancing FDA Oversight for Safer Eyedrops: New Powers... December 27, 2023 Bookmark Evolving Scope of Subscription-Based Healthcare: From Contraceptives to... December 26, 2023 Bookmark Parents Grapple with Anxiety over Children’s Health Due... December 25, 2023 Bookmark Quaker Oats Initiates Recall of Granola Products Due... December 16, 2023 Bookmark The U.S. Supreme Court to Review Mifepristone, a... December 16, 2023 Bookmark Challenges in Accessing Abortion Services Have Increased in... December 10, 2023 5 comments JohnDoe123 November 15, 2023 - 2:01 am ESPN Bet sounds cool, i like sports betting apps! $1.5 bilion deal is huge, must be important. Reply EconExpert42 November 15, 2023 - 4:24 am Penn Entertaiment got ESPN brand for 10 years, maybe 20? They also sold Barstool Sports, interesting move! Reply CarGuy23 November 15, 2023 - 4:51 pm No mention of automotive market, wish they included that. But sports betting is big news! Reply SeriousWriter007 November 15, 2023 - 5:38 pm ESPN Bet launch in 17 states, but no time? need more details! And whats up with Disney and gambling? Reply CryptoKing November 15, 2023 - 10:42 pm Wonder if ESPN Bet will have crypto betting? Big potential there! Reply Leave a Comment Cancel Reply Save my name, email, and website in this browser for the next time I comment. Δ
