ESPN explores bookie deal that is worth at least $3 billion. It wants to license its brand to sports betting firms. Also, the sports media company wants to capitalize on the growing online sports wagering industry.
ESPN talked to several significant sportsbooks and bookie PPH providers, including Caesars Entertainment and DraftKings. Also, ESPN already has marketing deals with both gambling firms.
According to online bookie software reports, ESPN will give its sports betting partner the right to use its brand. Also, the partner can rename the sportsbook after the sports cable TV network in the United States. The deal would obligate the partner to spend a specific amount of money on advertising on ESPN’s platforms.
ESPN Explores Bookie Deal
There is no assurance ESPN will arrive at an arrangement. It remains unclear whether gaming organizations have a hunger to pay for the ESPN name when they are contributing to setting up their current brands.
ESPN has been wary with regards to entering the games wagering field. It has struck associations to coordinate chances and wagering-related substance into a portion of its shows and has digital broadcasts and broadcasts devoted to betting, including “Daily Wager.” But leaders have said they need the organization to abstain from being straightforwardly engaged with betting exchanges.
A brand-authorizing arrangement would permit ESPN to benefit from the blast in sports betting without taking wagers and making payouts to champs, which requires licenses in particular states.
Sports betting can generate revenue of around $4 billion in the US in 2021. As a result, many people want to learn how to be a bookie. The industry became more popular after the Supreme Court cleared the way for states to legalize sports wagering. At present, 32 states and DC have legal sports betting. However, more states are expected to legalized gambling in the future.