For instance, in the future ESPN Fantasy users could receive custom-tailored player prop bet opportunities consisting of players they have on their fantasy rosters. The opportunities for crossover content is 'tremendous,' Snowden said. Nearly 73% of bets made in theScore Bet sportsbook app originated from theScore media app. Similarly to how PENN Entertainment connects users from theScore media app to theScore Bet sportsbook app, ESPN BET users will be able to put together bet slips while reading content in their ESPN media app, Snowden said. Seamless Integration from ESPN Content to SportsbookĮSPN BET will provide 'seamless integration' for ESPN BET users from ESPN content to its sportsbook, PENN Entertainment CEO and President Jay Snowden said during a launch preview last week. online sports betting market share, ESPN can receive bonus warrants to purchase up to an additional 6.4 million in PENN shares.ĭescribed as a 'significant value creation,' PENN estimates it could see an annual adjusted EBITDA of $1 billion by 2027 if it captures 20% of the online sports betting market share in North America through its partnership with ESPN. PENN Entertainment is banking on its ESPN partnership to capture more of the national market share and has included incentives in its partnership with the sports media giant for online sports betting market percentages it hits. The new sports betting app will offer featured bets, quick bets (micro-markets), player props, same game parlays and more.ĮSPN BET will go live in the following states today: PENN Entertainment will oversee the daily operations of ESPN BET sportsbook. The rebrand included the mobile app, website, and mobile website. PENN's Barstool Sportsbook has been completely rebranded to ESPN BET, while theScore Bet will continue to operate in Canada. PENN Entertainment agreed to pay $1.5 billion to ESPN over the initial 10-year term and grant ESPN approximately $500 million of warrants to purchase 31.8 million PENN common shares.

for an initial 10-year term which may be extended for an additional 10 years upon mutual agreement. PENN secured the exclusive rights in August to the ESPN BET trademark for online sports betting in the U.S. No re-registration will be required and all customer information will still be saved in the app. ESPN BET Hopes to Be a Market GiantĬustomers will be prompted to download the new ESPN BET app today. Entering our promo code is critical, because you'll not only earn the $200 standard bonus, but also a $50 bonus for entering our code at sign-up. New players can now sign up with ESPN Bet promo code NEWSWEEK to secure a $250 guaranteed bonus today.

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