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ESPN will \u201claunch a new multiyear deal with industry leader DraftKings\u201d that will see DraftKings betting, fantasy and other products \u201cintegrated into ESPN\u2019s stable of media properties\u201d — with the move coming the same day as the network ended its sports betting deal with Penn Entertainment<\/a>, according to Isabella Simonetti of the WALL STREET JOURNAL. The early end to ESPN and Penn Entertainment\u2019s deal comes \u201cafter failing to gain significant market share\u201d with ESPN Bet. ESPN Bet\u2019s \u201cinability to gain scale\u201d is a \u201csign of the grip DraftKings and FanDuel have on the market.\u201d ESPN will \u201cno longer have a branded sportsbook using the name ESPN Bet,\u201d but the brand will \u201ccontinue to exist\u201d in various content. ESPN\u2019s 10-year deal with Penn,\u202fannounced in August 2023<\/a>, was an attempt by both companies to \u201ctap into the sports-betting industry\u2019s growth.\u201d ESPN was \u201cset to receive\u201d $1.5B in cash over 10 years, \u201cplus warrants to purchase shares in Penn\u201d (WALL STREET JOURNAL, 11\/6<\/i><\/a>). BLOOMBERG NEWS\u2019 Christopher Palmeri writes ESPN Bet, a \u201crelatively late entry\u201d to the sports betting market, \u201cstruggled to come out with the popular features other operators offered.\u201d The business was a \u201cdistant seventh place\u201d in the mobile sports-betting market in the U.S. with \u201ca less than 3% share\u201d (BLOOMBERG NEWS, 11\/6<\/i><\/a>). <\/p>\n<\/div>\n \u2018 The preceding article may include information circulated by third parties \u2019 <\/em><\/p>\n \u2018 Some details of this article were extracted from the following source www.sportsbusinessjournal.com \u2019 <\/em><\/p>\n","protected":false},"excerpt":{"rendered":" ESPN will \u201claunch a new multiyear deal with industry leader DraftKings\u201d that will see DraftKings betting, fantasy and other products \u201cintegrated into ESPN\u2019s stable of media properties\u201d — with the move coming the same day as the network ended its sports betting deal with Penn Entertainment, according to Isabella Simonetti of the WALL STREET JOURNAL. […]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_jetpack_memberships_contains_paid_content":false,"jnews-multi-image_gallery":[],"jnews_single_post":[],"jnews_primary_category":[],"jnews_social_meta":[],"footnotes":""},"categories":[25172],"tags":[35206],"class_list":["post-2139307","post","type-post","status-publish","format-standard","hentry","category-entertainment","tag-gambling"],"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/celebrity.land\/en\/wp-json\/wp\/v2\/posts\/2139307","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/celebrity.land\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/celebrity.land\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/celebrity.land\/en\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/celebrity.land\/en\/wp-json\/wp\/v2\/comments?post=2139307"}],"version-history":[{"count":1,"href":"https:\/\/celebrity.land\/en\/wp-json\/wp\/v2\/posts\/2139307\/revisions"}],"predecessor-version":[{"id":2139308,"href":"https:\/\/celebrity.land\/en\/wp-json\/wp\/v2\/posts\/2139307\/revisions\/2139308"}],"wp:attachment":[{"href":"https:\/\/celebrity.land\/en\/wp-json\/wp\/v2\/media?parent=2139307"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/celebrity.land\/en\/wp-json\/wp\/v2\/categories?post=2139307"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/celebrity.land\/en\/wp-json\/wp\/v2\/tags?post=2139307"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}