Snowden described meeting with ESPN Chairman Jimmy Pitaro and sharing a vision to forge ahead with the project.

“And so this was an opportunity of a century to be able to do this with ESPN.” “As you think about it from the PENN perspective, there’s only one Worldwide Leader in Sports,” said Jay Snowden, chief executive officer and president of PENN Entertainment. Data from PENN Entertainment emphasizes that 92% of current bettors are likely to use ESPN BET, while 65% of potential bettors are thought to be willing to participate in the service. As part of this effort, ESPN has reportedly issued a sports betting policy that provides restrictions and/or limitations on its employees as appropriate. An ostensible challenge in this endeavor, however, lies in being able to captivate users who are already betting on other platforms and reaching new customers, all while trying to remain an unbiased, objective source of sports news and information. It is now live in 17 states across the country. The practice is now legal in more than half of the United States.ĮSPN BET, which officially launches today, is being operated by PENN Entertainment. According to the American Gaming Association, sportsbooks generated $7.5 billion in revenue last year. Supreme Court granted states regulatory power over sports betting in 2018 as part of a seminal decision that rendered the Professional and Amateur Sports Protection Act unconstitutional, the eminence and extent of sportsbooks in the United States has precipitously expanded. When ESPN and PENN Entertainment inked a 10-year deal to launch an online sportsbook, it cemented the start of a strategic partnership to make a collective impact in the sports betting space.

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