ESPN Launches New Sports Betting App With Ad Featuring Scott Van Pelt
ESPN has launched a sports betting initiative in 17 states in an attempt to contend with other sports betting services like and its $9 billion U.S. online sports betting monopoly.
The sports network, backed by Disney, made a deal earlier in August with Penn Entertainment for a $2 billion deal that rebrands its gambling company Barstool Sportsbook. Existing Barstool accounts will transfer to ESPN Bet.
Penn bought Barstool in February from Barstool Sports founder David Portnoy, and the technology behind ESPN Bet comes mostly from Penn’s $2 billion 2021 acquisition of Canadian gaming app theScore, according to the Financial Times.
Barstool operates over 40 casinos nationwide, such as the Tropicana and M Resort in Las Vegas, and intends to invest $150 million a year into marketing ESPN Bet.
Due to varying gambling laws nationwide, ESPN Bet permits wagers only when users are physically present in a state where the app is licensed for sports betting. Despite this, accounts can be accessed from anywhere in the U.S. This initiative follows the U.S. Supreme Court’s legalization of sports betting five years ago, coinciding with the industry’s significant growth. While DraftKings and FanDuel dominate the market, ESPN, leveraging its recognized brand, aims to enter the sports betting arena, with more than half of surveyed sports bettors expressing willingness to try it.
“People that think this battle has been fought and won are way ahead of where I think the market is,” said Steve Bornstein, ESPN’s former chief executive who runs betting data group Genius Sports’ North America division, told the FT. “Obviously there are some very dominant players … but we’re still in the go-go growth stage, the market is not calcified.”
Despite the boastful promise, ESPN has a baked-in opt-out clause in its 10-year licensing deal with Penn. If the app fails to gain market share, ESPN can terminate the arrangement, according to FT.
The network’s current plan is to cross-promote the app on the network, using hosts like Scott Van Pelt to recommend wagers.
Check out the trailer for the app above.
