Smith’s salary on a bonus bet, it’s going to be a challenge to win over fans who have already settled into their app(s) of choice.
But barring some kind of insane promotion where you can win some of Pat McAfee or Stephen A. And the ESPN Bet brand will literally be plastered over most major sporting events in this country. For ESPN, the Penn partnership is a readymade way for them to get a foothold in the industry, but will their brand name and accessibility be enough to break through? It’s clearly a huge improvement over the polarizing and troublesome Barstool brand. However, sports betting companies have been on a long, slow, painful road to profitability that have already seen many competitors already fall by the wayside. Disney has been up front about ESPN looking for strategic partners and $1.5 billion cash infusions don’t show up at your doorstep every day. It’s a risky move, but also a necessary one.
Ironically, it was less than a year ago that ESPN was reportedly close to coming to a similar agreement with DraftKings that ultimately did not take place. In a whirlwind of events, Penn sold Barstool Sports back to Dave Portnoy, then partnered with ESPN on a $1.5 billlion deal that will see ESPN Bet become their newly rebranded sports betting enterprise.
