The sports gambling world saw a seismic shift on Tuesday as ESPN officially got in on the sportsbook game.
The sports media company will officially partner with PENN Entertainment to create “ESPN Bet,” a new sportsbook that links directly to ESPN’s content.
Per our Prince J. Grimes, “PENN was previously partnered with Barstool Sports and branded as Barstool Sportsbook but announced in a separate release that it was divesting its entire stake in the company to founder David Portnoy.”
Now, PENN will fuel ESPN Bet, which puts ESPN (and the Walt Disney Company at a larger view) squarely into the world of sports gambling.
However, sports fans pointed out the obvious conundrum that any media outlet faces that combines betting and reporting. Will your reporters influence the betting lines?
Around the 2023 NBA Draft, NBA insider Shams Charania earned some fair critiques after his reporting on the second-overall pick swung the lines at FanDuel, where he works. The report ultimately did not come to fruition, leaving some crying foul that they’d bet at FanDuel on Charania’s scoop.
With ESPN Bet now on the horizon — and with PENN reportedly gaining access to ESPN talent as part of the deal — sports fans wondered how this is going to work as the company employs many sports insiders who could influence betting lines one way or the other.
Currently, Disney owns 80% of Espn's capital, while the communication giant Hearst Communications has the remaining 20%. The channel group has been led by John Skipper since 2012, who is also the vice president of the Disney Media division.
Since its inception, the operator has made a name for itself in sports with the rights to major US competitions. Espn has broadcast the National Football League (NFL) since 1987, Major League Baseball (MLB) since 1990, the National Basketball Association (NBA) since 2002 or the National Hockey League (NHL) from 1979 to 2004 and from 2021 to the present.
It also has the rights to Major League Soccer (MLS), the Uefa Champions League, LaLiga, the Bundesliga, the FIFA World Cup, Wimbledon, the United States Open, the PGA Tour, La Vuelta or the Association of Clubs. Basketball (ACB).
