PENN Interactive will be looking to achieve better results with its new $1.5 billion partnership deal involving ESPN. Interestingly, the company does not plan to begin from nothing. Several indicators show that PENN is looking to leverage the already-established media strength that ESPN wields across the US.
For now, ESPN Bet is accessible in Michigan, Pennsylvania, New Jersey and West Virginia. However, there are plans to extend to a total of 17 jurisdictions. The game plan for this expansion is to integrate the media offering of ESPN with the sports betting product. This approach is similar to one used by theScore Bet when it launched in Ontario earlier this year.
As reported earlier, ESPN is already using ESPN Bet odds and general branding on its TV programmes and website. Even better, users can access direct links from the ESPN app to the ESPN Bet app. There will also be betting related news, interlinked between ESPN and ESPN Bet.
The pre-existing user base for ESPN could also provide an avenue for ESPN Bet to thrive. In September alone, ESPN reported having 12 million users on its app. Compared to FanDuel with 3.3 million and DraftKings to 2.9 million, ESPN commands the most significant share of the sports media market.
With PENN and former Barstool unique customers also joining the mix, ESPN Bet may be set for a massive adoption phase in the coming months. Comparing this case to theScore’s launch offers some impressive insight. 73% of the current users of theScore were sourced from the company’s media platforms. Overall, the sportsbook now has about 50% of the total market share in Ontario.
Given the similarity of both circumstances, it is expected that cross-selling strategies may birth incredible results for ESPN Bet.
