By TheNuts - Nov 14, 2023
ESPN BET Launches In USA
With ESPN's $1.5 billion licensing deal with Penn Entertainment, the US holiday season will undoubtedly be a bit more interesting to watch from a sports betting
standpoint. It will be quite thrilling to replace Penn's Barstool suitor with the biggest sports media brand in the United States. Penn hopes to increase its long-term adjusted EBITDA potential by up to $1.0 billion, per the company's most recent trade statement.
The premiere of ESPN BET on November 14 is ideally timed to take advantage of the hectic sports schedule around Thanksgiving. Highlights include the televised Super Bowl rematch between the Philadelphia Eagles and the Kansas City Chiefs on ESPN's Monday Night Football, as well as NCAA college football rivalry week.
According to Penn's Q3 trade report, ESPN will roll out the first batch of integrations. These will use its many digital channels to reach an estimated 200 million viewers. Scott van Pelt and Elle Duncan, anchors of ESPN SportsCenter, will also launch an advertising campaign.
As with any genuine Disney prince, we potentially have an offer that could be too good to turn down. After all, with more than 100 million unique monthly internet visits, EPSN is the biggest sports media brand in the US. It has more than 370 million followers on social media, and its ESPN+ streaming service has 25 million users. ESPN holds the largest following on TikTok, with over 40 million users globally.
Additionally, the brand will be introduced in 17 states. Together with powerhouses New Jersey and Pennsylvania, this will include all of the main US markets (not just New York). Jay Snowden, the CEO and president, stated that Penn believes "this is an opportunity to really appeal to the masses."
Penn might not have the same clout as FanDuel and DraftKings, but it doesn't matter. An association with "the single best brand and platform in the US to reach sports fans and potential bettors" will be unveiled tomorrow. This will be the third attempt to combine sports media and betting, offering "a robust menu of promotion and integration across all of ESPN's platforms."
Success in the UK for SkyBet is the goal being pursued here, following in the footsteps of Fubo and Fox Bet. Penn will try to succeed where Fubo and Fox Bet have failed. Given that 92% of bettors surveyed said they would use ESPN BET and that 65% of potential bettors agreed they would too, it is possible that the introduction of ESPN BET will have greater impact than those of Fubo and Fox combined.
The ecosystem of sports betting and media 360 is the second. Now, when reading match previews, ESPN's tens of millions of media app users will be able to practically raise a bet slip. The user only needs to ensure that their betting account is funded. The transition from news articles and videos to the instantaneous placing of bets will be smooth. That's even before we discuss using the app to bet live during matches.