They think they can offer a better product.'
'They want to make it like one-stop shopping where you go to check the score and there's your betting opinions right there. 'ESPN and Penn believe they can infiltrate this market,' Andrew Brandt, a sports business professor at Villanova University, told CBS MoneyWatch. Yet while gambling has exploded as a growing number of states legalize it, the broadcaster will face entrenched competitors in the form of DraftKings and FanDuel, which control roughly 80% of the online sports betting market, The platform went live for signups on Thursday, but still needs approval from gaming commissions in each state.ĮSPN is plunging into the sports wagering business as parent company Disney looks to boost profits across the entertainment giant. sports broadcasting is putting its money on the lucrative gambling industry, launching an online betting platform that will initially be available in 17 states.ĮSPN teamed with Penn Entertainment, a provider of sports content and casino gaming experiences that previously launched the sportsbook for Barstool Sports, to create the betting service, dubbed ESPN Bet.
