ESPN Bet

ESPN Bet
FormerlyBarstool Sportsbook (2020–2023)
Company typeSubsidiary
IndustrySports betting
FoundedSeptember 2020; 4 years ago (2020-09)
ParentPenn Entertainment
Websiteespnbet.com

ESPN Bet (stylized as ESPN BET) is a brand of American sportsbooks and online sports betting services operated by Penn Entertainment. Its branding is licensed from ESPN Inc., which cross-promotes the services across its television and digital platforms. It originally launched in 2020 as Barstool Sportsbook, in partnership with the then-Penn owned Barstool Sports.

In August 2023, Penn sold Barstool back to its founder Dave Portnoy, and concurrently announced a brand licensing agreement with ESPN; the 10-year agreement is valued at $1.5 billion, plus $500,000 in options for ESPN to purchase Penn stock. Barstool Sportsbook was succeeded by ESPN Bet on November 14, 2023.

ESPN Bet operates mobile sports betting in 17 states, and offers retail sportsbooks at selected Penn Entertainment casinos.

History

As Barstool Sportsbook

In January 2020, Penn bought a 36% minority stake in the sports and pop culture website Barstool Sports, with media outlets anticipating that it planned to leverage the Barstool brand as part of a sports betting service.[1][2] In September 2020, Barstool and Penn subsequently launched the Barstool Sportsbook app in Pennsylvania; they sought to leverage Barstool's existing social media following and digital media properties to promote the service to a target audience of young adults, in contrast to other gaming companies that entered into marketing partnerships with sports television broadcasters (such as Fox Sports and The Stars Group, and NBC Sports and PointsBet).[3][4] Barstool CEO Erika Nardini explained that "in our case, our content is the marketing. The way we talk to our fans, the way we connect. The way we make things fun. We have an appeal to the 21-plus audience in a way no one else has."[5]

By 2023, Barstool Sportsbook offered mobile betting in 17 states,[6] and Penn had acquired the remaining stakes in Barstool from founder David Portnoy and The Chernin Group for $388 million. Some of Penn Entertainment's casinos also constructed or rebranded their sportsbooks under the Barstool Sportsbook banner, with 19 locations by 2023.[7][8]

As ESPN Bet

On August 8, 2023, Penn announced an agreement with ESPN Inc. to launch a new sports betting brand, ESPN Bet; under the agreement, Penn would pay $1.5 billion to license the ESPN brand for 10 years, and provide ESPN with $500,000 in stock options. In turn, ESPN would provide marketing and access to its talent for the service. The agreement would take advantage of ESPN's larger brand equity over Barstool; the same day, Portnoy announced that Penn had sold Barstool back to him for $1, and 50% of gross revenue from any future sale of the site.[7] He argued that "the regulated industry is probably not the best place for Barstool Sports and the type of content we make", and stated of the sale clause that he planned to continue owning Barstool "till I die".[9][10]

By launching an ESPN-branded sportsbook, Penn triggered escape clauses in the existing marketing agreements ESPN had with DraftKings and Caesars Entertainment for daily fantasy sports and sports betting tie-ins respectively; this resulted in the closure of ESPN's Las Vegas studio at The Linq, and ESPN2's sports betting studio show Daily Wager moving to ESPN's headquarters in Bristol, Connecticut.[11][12][13] Ahead of the launch, the Barstool branding began to be removed from the retail sportsbooks at Penn's casinos in October 2023,[14] and Daily Wager was renamed ESPN Bet Live beginning November 10.[8] ESPN Bet officially launched on November 14, 2023, replacing Barstool Sportsbook in the 17 states where Penn is licensed to offer online betting.[15]

In April 2024, the sportsbook at Hollywood Casino at Greektown was relaunched as an ESPN Bet sportsbook—marking the first retail location under the new name. Its opening coincided with the 2024 NFL draft in Detroit, while ESPN Bet Live would broadcast two episodes on-location from Greektown as part of ESPN's draft coverage.[16] In August 2024, Penn announced that a further eight ESPN Bet locations would open in August and September 2024, beginning with Hollywood Casino at Kansas Speedway, L'Auberge Baton Rouge, and Plainridge Park Casino.[17]

References

  1. ^ Kafka, Peter (2020-01-29). "A casino company is buying Barstool Sports in a $450 million deal". Vox. Retrieved 28 September 2023.
  2. ^ Mullin, Katherine Sayre and Benjamin (2020-01-29). "Penn National Gaming to Buy Minority Stake in Barstool Sports". Wall Street Journal. ISSN 0099-9660. Retrieved 2020-01-29.
  3. ^ "Fox Sports, Stars Group to offer sports betting in deal". Las Vegas Sun. 8 May 2019. Retrieved 22 May 2019.
  4. ^ Sherman, Alex (8 May 2019). "Fox Sports becomes the first big media company to put its brand on a sports betting product". CNBC. Retrieved 22 May 2019.
  5. ^ Evans, Pat (2020-09-18). "Barstool Launches Sportsbook, Confident Fans Will Follow". Front Office Sports. Retrieved 2024-08-08.
  6. ^ "Barstool Sportsbook Propels PENN Entertainment to $1.67 Billion Quarter". Covers.com. 2023-05-04. Retrieved 2024-08-08.
  7. ^ a b "Penn National opens Barstool Sportsbook at 3 casinos". Reading Eagle. 2020-12-24. Retrieved 2024-08-08.
  8. ^ a b McCarthy, Michael (2023-11-10). "ESPN BET Will Attempt To Prevent The Influence Of Insiders". Front Office Sports. Retrieved 2024-08-09.
  9. ^ Bucholtz, Andrew (2023-08-08). "Dave Portnoy buys back 100 percent of Barstool Sports from Penn". Awful Announcing. Retrieved 2023-08-09.
  10. ^ Maruf, Ramishah (2023-08-08). "ESPN is jumping into sports gambling in a $2 billion deal". CNN. Retrieved 2023-08-09.
  11. ^ Novy-Williams, Eben (2023-08-09). "ESPN's $2B Penn Deal Means DraftKings, Caesars Cash Cut". Sportico.com. Retrieved 2024-08-09.
  12. ^ "ESPN show 'Daily Wager' leaving Las Vegas Strip, returning to Bristol". 13 Action News. E.W. Scripps Company. 2023-08-31. Retrieved 2024-08-09.
  13. ^ Cohen, Andrew (2023-08-10). "ESPN to Leave Caesars' Las Vegas Studio After PENN Agreement". Front Office Sports. Retrieved 2024-08-09.
  14. ^ Rotstein, Gary (2023-10-30). "PENN's Casinos Are Shedding Barstool Identity, But What's Next?". SportsHandle. Retrieved 2024-08-09.
  15. ^ Jackson, Devin (2023-11-02). "ESPN BET launches Nov. 14. States, games and everything else you need to know". Inquirer.com. Retrieved 2024-08-09.
  16. ^ Selasky, Susan. "First ESPN BET sportsbook retail location opens inside Hollywood Casino at Greektown". Detroit Free Press. Retrieved 2024-08-09.
  17. ^ Lucia, Joe (2024-08-08). "Penn Entertainment adding ESPN Bet branding to eight more sportsbooks". Awful Announcing. Retrieved 2024-08-09.

Read other articles:

Балясний Михайло Матвійович

Михайло Матвійович Балясний Народження 22 липня 1892(1892-07-22)Харків, Російська імперіяСмерть 11 липня 1978(1978-07-11) (85 років)  Київ, Українська РСР, СРСРКраїна  УНР Українська Держава СРСРНавчання Харківська малювальна школа і Харківське державне художнє училищеДі...

 

Tamta

TamtaTamta pentas di Kontes Lagu Eurovision 2019LahirTamta Goduadze10 Januari 1981 (umur 42)Tbilisi, RSS Georgia, USSRTempat tinggalAthena, YunaniWarga negaraGeorgiaYunaniAlmamaterUniversitas Negeri TbilisiAnak1Karier musikGenrePopdansaPekerjaanPenyanyiInstrumenVokalTahun aktif2004–sekarangLabelMinos EMIArtis terkaitMidenistisSakis RouvasSitus webwww.tamta.gr Tamta Goduadze (bahasa Georgia: თამთა გოდუაძე; bahasa Yunani: Τάμτα Γκοντουάτζε,...

 

Олівер Вінне-Гріффіт

Олівер Вінне-Гріффіт(англ. Oliver Wynne-Griffith) Загальна інформаціяНаціональність британецьГромадянство  Велика Британія[1]Народження 29 травня 1994(1994-05-29)[1] (29 років)Гілфорд, Південно-Східна Англія, Англія, Велика Британія[2]Alma mater Єльський університет[3] і к...

كونكي

كونكيمعلومات عامةجزء من برمجيات حرةكدي الجنس كائن ذكر[1] الزَّوج Katie (en) الإقامة KDEvalley (en) Mascot Kingdom (en) يرتدي منديل الرقبة اللون أخضرأصفر موجود في عمل سوبر تكس كارتكديKDE Gear (en) المصمم تيسون تان[1]قيمة مجهولة يمثل كدي[1](2002 – ) تعديل - تعديل مصدري - تعديل ويكي بيانات التن...

 

Theta1 Orionis A

Star in the constellation Orion For other stars with this Bayer designation, see θ Orionis. θ1 Orionis A Trapezium stars Observation dataEpoch J2000      Equinox J2000 Constellation Orion Right ascension 05h 35m 15.84743s[1] Declination −05° 23′ 14.3441″[1] Apparent magnitude (V) 6.72 - 7.65[2] Characteristics Spectral type B0.5V[3] Variable type Algol[2] AstrometryProper m...

 

Gavin Rae

Scottish footballer and manager Gavin Rae Rae playing for Cardiff City in 2009Personal informationFull name Gavin Paul Rae[1]Date of birth (1977-11-28) 28 November 1977 (age 46)[1]Place of birth Aberdeen, ScotlandPosition(s) Midfielder[1]Senior career*Years Team Apps (Gls)1996–2004 Dundee 223 (26)2004–2007 Rangers 28 (3)2007–2011 Cardiff City 130 (7)2011–2012 Dundee 13 (3)2012–2013 Aberdeen 47 (3)2013–2014 Dundee 14 (1)2014–2018 Hakoah Sydney City Ea...

AIDAluna

AIDAluna Banderas HistorialAstillero Meyer Werft, Papenburgo (Alemania)Clase Clase SphinxTipo CruceroOperador AIDA CruisesPuerto de registro Génova, ItaliaAsignado 2009Eslora 251,89 metros y 252 metrosManga 32,2 metrosCalado 7,3 metros y 7,2 metrosNúmero OMI 9334868MMSI 247255400[editar datos en Wikidata] AIDAluna es un crucero de clase Sphinx, propiedad de Carnival Corp y operado por AIDA Cruises. Este fue construido por los astilleros de Meyer Werft en Papenburg, Alemania. Este ...

 

Banat, Bačka and Baranja

Banat, Bačka and BaranyaBanat, Bačka i BaranjaБанат, Бачка и БарањаProvince of the Kingdom of Serbia and the Kingdom of Serbs, Croats and Slovenes1918–1922Banat, Bačka and Baranja in 1918–1919CapitalNovi SadHistoryHistory • Established November 1918• Disestablished 1922 Preceded by Succeeded by Austria-Hungary Kingdom of Serbs, Croats and Slovenes Today part ofCroatiaHungaryRomaniaSerbia Division of Banat between Romania and Serbia at the Paris Peace...

 

Eight Thousand Li of Cloud and Moon (TV series)

Taiwanese TV series or program Eight Thousand Li of Cloud and MoonVCD cover artTraditional Chinese八千里路雲和月Simplified Chinese八千里路云和月Hanyu PinyinBā Qiān Lǐ Lù Yún Hé Yuè GenreHistorical dramaStarringKenny HoIvy Ling PoLu FungJin Chao-chunFan Hung-hsuanCountry of originTaiwanOriginal languageMandarinNo. of episodes40ProductionProduction locationTaiwanRunning time45 minutes per episodeProduction companyCTSOriginal releaseNetworkCTSRelease21 November 198...

Suzuki Intruder

This article needs additional citations for verification. Please help improve this article by adding citations to reliable sources. Unsourced material may be challenged and removed.Find sources: Suzuki Intruder – news · newspapers · books · scholar · JSTOR (July 2008) (Learn how and when to remove this template message) Type of motorcycle Suzuki IntruderVS 1400 IntruderManufacturerSuzukiAlso calledVSProduction1985–2005SuccessorBoulevardClassCruiserEn...

 

Planet Earth (2006 TV series)

2006 British nature documentary television series This article is about the 2006 BBC TV series. For the 2016 sequel series, see Planet Earth II. For the franchise as a whole, see Planet Earth (franchise). For the unrelated 1986 PBS TV series, see Planet Earth (1986 TV series). Planet EarthGenreNature documentaryNarrated by David Attenborough (Original Version) Sigourney Weaver (Discovery Channel Version) ComposerGeorge FentonCountry of originUnited KingdomOriginal languageEnglishNo. of episod...

 

Celine Dion Live 2018

2018 concert tour by Celine Dion Celine Dion Live 2018Tour by Celine DionPromotional poster for the tourAssociated albumThe Best So Far... 2018 Tour EditionStart date26 June 2018End date14 August 2018Legs2No. of shows22Box office$56.5 millionCeline Dion concert chronology Celine Dion Live 2017(2017) Celine Dion Live 2018(2018) Courage World Tour(2019–20) Celine Dion Live 2018 was the thirteenth concert tour by Canadian singer Celine Dion to support her greatest hits album, The Best So Far.....

Chertanovo constituency

Russian legislative constituency Chertanovo single-member constituency Constituency of the Russian State DumaDeputyRoman RomanenkoUnited RussiaFederal subjectMoscowDistrictsSouthern AO (Chertanovo Tsentralnoye, Chertanovo Yuzhnoye), South-Western AO (Severnoye Butovo, Yasenevo, Yuzhnoye Butovo)Other territoryUzbekistan (Tashkent-2)[1]Voters477,202 (2021)[2] The Chertanovo Constituency (No.210[a]) is a Russian legislative constituency in Moscow. It is based in Southern ...

 

Кыпчакские диалекты узбекского языка

Кыпчакские диалекты узбекского языка Страны Узбекистан, Таджикистан, Средняя Азия Классификация Категория Языки Евразии Алтайские языки (спорно) Тюркские языки Кыпчакская группа Дешт - Кыпчакская подгруппа Кыпча́кские диале́кты узбе́кского языка́ (кыпчакское наречие...

 

Henan University

University in Zhengzhou, China Henan University河南大学 (Chinese)Former namesPreparatory School for Further Study in Europe and America (1912~1927), No.5 National Zhongshan University (1927~1930), Provincial Henan University (1930~1942), National Henan University (1942~1953)Motto明德，新民，止于至善[1]Motto in EnglishTo illustrate illustrious virtue; to renovate the people; and to rest in the highest excellence[2]TypePublic universityEstablished1912;...

Trip hop

Genre of electronic music Not to be confused with Illbient or Chillhop. This article has multiple issues. Please help improve it or discuss these issues on the talk page. (Learn how and when to remove these template messages) This article possibly contains original research. Please improve it by verifying the claims made and adding inline citations. Statements consisting only of original research should be removed. (March 2018) (Learn how and when to remove this template message) This article...

 

We Were Strangers

1949 film We Were StrangersTheatrical posterDirected byJohn HustonWritten byJohn HustonPeter ViertelBased onChina Valdez1948 novel Rough Sketchby Robert SylvesterProduced bySam SpiegelStarringJennifer JonesJohn GarfieldCinematographyRussell MettyEdited byAl ClarkMusic byGeorge AntheilColor processBlack and whiteProductioncompanyHorizon PicturesDistributed byColumbia PicturesRelease date April 27, 1949 (1949-04-27) Running time106 minutesCountryUnited StatesLanguageEnglish We We...

 

Sambal goreng hati

Sambal goreng hatiTempat asalIndonesiaDaerahJawa Bumbu sambal goreng hati Sambal goreng hati adalah makanan dengan bahan hati ampela ayam dengan bumbu sambal. Ini salah satu jenis masakan yang cukup populer di rumah tangga Indonesia, terutama untuk acara khusus seperti arisan dan pesta pernikahan. Sambal goreng hati merupakan masakan yang biasa disajikan waktu Lebaran bersama dengan opor ayam dan ketupat, terutama di wilayah Jawa Tengah, DI Yogyakarta, dan Jawa Timur. Referensi http://www.mas...

Brookwood Historic District

Historic district in North Carolina, United States United States historic placeBrookwood Historic DistrictU.S. National Register of Historic PlacesU.S. Historic district Show map of North CarolinaShow map of the United StatesLocationRoughly bounded by Market St., Keaton Ave., Burnt Mill Cr. & Wallace Park, Wilmington, North CarolinaCoordinates34°14′13″N 77°55′02″W / 34.23694°N 77.91722°W / 34.23694; -77.91722Area58 acres (23 ha)Builtc. 1920 (1...

 

Goliath Tabuni

Papuan Guerilla Leader Goliath TabuniBorn1959 or 1960 (age 63–64)Gurage, Netherlands New GuineaAllegiance Free Papua MovementUnitWest Papua National Liberation ArmyBattles/warsPapua conflict Goliath Namaan Tabuni[1] (born 1959 or 1960) is a Papuan guerilla leader who is commander of the West Papua National Liberation Army (TPNPB). Mostly based around Puncak Jaya Regency, his unit is known for launching attacks and ambushes against Indonesian government units. Biogra...

 

Strategi Solo vs Squad di Free Fire: Cara Menang Mudah!