ESPN is expanding a sports betting area

Since sports betting can now be offered legally in many US states, the US broadcaster ESPN also wants to invest in the growth market. For this goal, the popular and popular US television station, who only sends sports 24 hours a day, has brought at least as popular partners on board. Together with the sports betting companies Draftkings and Caesars Entertainment, you want to intensify your own activities, especially in marketing, in the sports betting area. After the legalization of sports betting in many states in the United States, a billion dollar market has arisen, from which US sports channels ESPN also wants to benefit economically.

Draftkings stock price increased by a fifth

Actually, it was probably only a matter of time before the The best known American sports broadcaster ESPN Get in the sports betting market. Even if the Entertainment and Sports Programming Network (ESPN) had so far had little to do with the betting industry – and this despite complete focus on sport – a market entry after the sports betting layer was obvious in large parts of the United States – it only needed the right partners .

With DraftKings und Caesars Entertainment If ESPN has now found it, at least that’s how it will In the official press release on the homepage communicated. Mike Morrison, one of the responsible leadership figures for innovation and development at the station ESPN, is completely convinced of the new partnership.

“Our new agreements with Caesars and Draftkings represent the next important milestone for ESPN to diversify our business area and to deepen our activities in the field of sports betting. We have started to have our experiences in new business models and are technically up to date, for example when generating sports betting data by our partner William Hill or in the state-of-the-art studio facility in Las Vegas by our contract with Caesars. Now Draftkings adds two top brands from our industry. ”– Mike Morrison, Vice President for Business Development and Innovation at ESPN, Press release from ESPN

At least from a short point of view, it is mainly the company Draftkings that benefits the most benefits from the contractually stated cooperation. Because shortly after the deal and publication of the press release on the ESPN website is the Draftkings share price climbed up by a proud 20 percentage points. The partnership may already have paid off at least for the sports betting provider.

Exclusive rights for ESPN on betting odds

However, at first glance it is not necessarily clear to what extent ESPN will benefit from this cooperation. Because sports betting itself will not continue to offer the US station directly. It is clear that Draftkings and Caesars Entertainment, which is actually at home in Las Vegas and has mainly operated casinos, their sports betting and offers Apply on the digital platforms of ESPN may.

In return ESPN secures the exclusive rights to the quotas, which means that the broadcaster holds the sole rights of use. Due to the extremely awareness of ESPN in all US states and of course because ESPN broadcasts many top international events from sport and gambling, including the World Series of Poker (WSOP), Draftkings and Caesars Entertainment are already high Commercial level of awareness in the United States can increase again.

“We are very happy to expand our relationship with ESPN in order to enable deeper integration of our sports betting and daily fantasy sports offers on their platforms. The range of ESPN among sports fans is unprecedented and the start of NFL is the perfect time for draftkings to start this integration. ”– Jason Robins, Co -founder, chairman and chief executive officer of Draftkings, Press release from ESPN

The new deal between the three large US brands from sport and gaming sector should not only result in major changes and development opportunities for the three directly participating companies. The US sports betting market has changed extremely since 2018, for example, just recently Legalized sports betting in Indian Casinos made. With the new major cooperation, movement should be moved to the US sports betting sector again. It should be exciting how national competition will react to this partnership.