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ESPN announces new partnership with DraftKings after split with Penn Entertainment
The deal comes after Disney mutually agreed to end their 10-year ESPN Bet deal with Penn Entertainment
Sports media giant ESPN has announced a new sports betting partnership with DraftKings, making the gambling company its official sportsbook and odds provider.
The deal begins on 1 December and means that DraftKings products will be integrated into ESPN’s various platforms, including the provision of betting content within the ESPN app. There will also be access to online sportsbooks, daily fantasy and ‘DraftKings Pick6’ products.
On the announcement of the deal, a statement from ESPN chairman Jimmy Pitaro said that the company’s betting approach “has focused on offering an integrated experience within our products," and “working with DraftKings will allow us to build upon that foundation, continue to super-serve passionate sports fans and grow our ESPN direct-to-consumer business”.
Jason Robins, CEO and Co-Founder of DraftKings, explained that "ESPN's unmatched visibility across the world of sports make this collaboration a natural fit”.
“As an innovative leader in digital sports entertainment, DraftKings is uniquely positioned to integrate our technology and products with ESPN's iconic brand and storytelling power,” said Robins.
“Together, we're delivering a seamless, engaging, and responsible experience that elevates how fans connect with live sports,” he added.
The partnership comes after ESPN announced on 6 November that the company had mutually agreed to terminate their previous ESPN Bet deal with Penn Entertainment. That 10-year deal had been signed in August 2023, but both parties agreed to withdraw after failing to reach their market share goals.
Estimates suggest that ESPN Bet had a market share of roughly three per cent. Conversely, DraftKings has one of the largest market shares of the US sports betting market – estimated to be around 34 per cent – with over 10 million customers in 28 states, Washington, D.C and Ontario, Canada.
ESPN Bet will now become a repurposed sports betting content brand producing online articles, social media posts and the network’s sports betting show ‘ESPN Bet Live’, though these will direct users to DraftKings Sportsbook for wagering and betting, according to Reuters.