Last updated on December 6th, 2023 at 08:07 am
Much of the gambling world is talking about the latest, and one of the biggest deals in gaming in recent months: that ESPN invests in sports betting. ESPN is one of the world’s leading sports entertainment and media companies, and they now have a $2 billion deal with PENN Entertainment to launch ESPN bet. Those who want to learn how to start a bookie business will probably feel that this is quite intimidating for smaller operators.
However, it is actually one of the biggest boosts that the gambling industry is seeing. Remember that ESPN is known for sports news, but it is a Disney company. Those in the industry have long debated if Disney (through ESPN) will be dipping its toes in sports betting, since its primarily a family-friendly company. But such is the potential for millions of annual revenue from sports betting, that ESPN is joining in.
And, of course, this will help gain a lot of confidence in the industry. Those who use a pay per head sportsbook can attest to the growth of sports betting over the years. It has proven to be successful, even during the COVID pandemic. This is why becoming a bookie is one of the most popular decisions people who want to own a business make.
ESPN Invests in Sports Betting: the Details
As per the deal, PENN Entertainment will be paying ESPN $1.5 billion over the next ten years, they will also issue grant warrants to ESPN to purchase 31.8 million of PENN shares which total $500 million throughout the period. The sportsbook that PENN Entertainment will go under rebranding, and will launch as ESPN BET.
PENN Entertainment will gain rights to ESPN media, marketing services, and other such services. This means increased publicity across the ESPN platforms, which will generate fan awareness on sports betting. While this is specific to the ESPN Bet brand, this benefits the whole industry in terms of mainstreaming betting.
If a large company like ESPN, and Disney, believe in the industry, then there is no reason why you would not consider getting in the business as well. And if you do not have the billions that ESPN has, fret not. A great pay per head sportsbook service will help you get started as a bookie. And it will be very, very affordable to use.
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