Madi Mamytov’s Post

Could Disney's ESPN be the next major player in the US sports betting industry? Considering the US sports betting market is projected to grow another 60% by 2027, with annual gross gaming revenues hitting nearly $18bn, the opportunity for new entrants is indeed substantial. ESPN's transformation from an underestimated sports network to the world's biggest gives us a hint about its potential. As the market evolves, could ESPN Bet be the next big thing? #ESPN #SportsBetting #IndustryGrowth

Here's the thing about sports betting, it's only going to get bigger and more prevalent in the sports-watching experience. So if you're going to create smart content to bolster betting revenue, or you just want to help inform would-be bettors, here are three big things to know from Ben Fawkes who's helped craft betting content at ESPN, VSIN and now his own Substack.

WynnBET has officially ceased operations in New York, marking a significant shift in the state's sports betting market. Existing customers are required to withdraw their funds by August 29. This strategic move clears the way for ESPN BET, which is expected to launch in time for the NFL season. WynnBET's departure follows a trend of consolidation in the US mobile sports betting industry, as smaller operations struggle to compete against dominant players like FanDuel and DraftKings. Over its two-and-a-half years in New York, WynnBET accepted $233 million in bets but only generated $11.3 million in revenue, leading to its decision to exit the market. The introduction of ESPN BET, operated by Penn Entertainment, promises to bring new energy and competition to New York's sports betting scene. As one of the world's largest sports broadcasters, ESPN BET is poised to make a significant impact. With the NFL season around the corner, the timing couldn't be better for bettors in the Empire State. Stay tuned for more updates on this exciting development. #SportsBetting #BusinessUpdate #ESPNBet #WynnBET #NewYork #NFL https://lnkd.in/dgY9g6VK

US Sports Betting Market Set for Explosive Growth JPMorgan predicts a massive surge in the US sports betting market, reaching a staggering $9.2 billion by 2025. This growth is fueled by: State legalization: More states are embracing sports betting, expanding the market reach. Live broadcast integration: Betting seamlessly woven into broadcasts boosts fan engagement. Mobile betting rise: Convenient mobile platforms make participation easier than ever. Exciting times for the sports & entertainment industry!

I was just reading an article about ESPN Bet planning to launch in New York, the largest U.S. betting market. Penn Entertainment is buying Wynn Interactive’s mobile sports betting license for $25 million, after missing out on licenses awarded in 2021. This move could potentially make ESPN Bet a formidable competitor in the sports betting market. What are your thoughts on ESPN Bet entering the New York market, and how do you think it will impact the sports betting landscape? https://lnkd.in/etSyd2kF Blue Chip Sports Management Marymount Sports X Marymount Storytellers PENN Entertainment, Inc DraftKings Inc. ESPN CBS MGM Flutter Entertainment Plc National Football League (NFL) National Basketball Association (NBA) Nike #ESPNBet #SportsBetting #NewYorkMarket #PennEntertainment #WynnInteractive #Competition #SportsIndustry #MarketExpansion #SportsGambling #BusinessStrategy #MarketImpact #SportsFans #IndustryInsights #SportsBusiness #ESPN #BetOnSports #SportsNews #MarketGrowth #BusinessDevelopment #ESPNBetLaunch #SportsBetters #MarketEntry #IndustryCompetitors #Sports

What can the US sports betting industry learn from ESPN Bet's consumer perception? 🏀⚾⚽ 👉 Read the more about how YouGov's BrandIndex is used to track ESPN Bet's reputation and brand exposure: https://okt.to/p1NBja #YouGovBrandIndex

Explore our mid-year review of New York sports betting in 2024! With a record-breaking $10.99B handle, FanDuel and DraftKings continue to dominate, while Fanatics emerges as a new contender. Regulatory changes and industry controversies loom large. Read our latest article for an in-depth analysis and future predictions. #SportsBetting #NewYork #IndustryTrends #2024Review https://lnkd.in/dn5hNDAZ

As Frank Sinatra famously sang of New York: If you can make it there, you can make it anywhere. Executives at ESPN and PENN Entertainment, Inc hope that's true of #ESPNBet, which will debut in the Big Apple any day now. ESPN sees sports betting as a major growth area as it hedges against the steady decline of the pay-TV bundle. The company hopes its massive audience will choose ESPN Bet over its rivals in a cutthroat market. However, industry analysts say ESPN Bet faces long odds. It's probably too late to truly challenge leading services like FanDuel and DraftKings Inc., and even landing a bronze medal will be difficult. "There are both entrenched operators like BetMGM, and Caesars Sportsbook & Casino who aren't going to let Penn pass them by without a fight," industry veteran Chris Grove told me recently. "And then there are also emerging and ascendant brands who arguably are as well positioned — if not better positioned — than Penn to claim that third-place prize." Read my latest reporting for Business Insider here: https://lnkd.in/gf5JKi4e

Big news in the betting industry yesterday with reports of a Barstool Sports DraftKings Inc. partnership. This coming just months after PENN ended their relationship with Barstool and subsequently joined forces with ESPN, which then resulted in ESPN ending it's deal with Draftkings. Sooo the companies that got broken up with are now finding synergy down the road. Quick thoughts... 1) Very positive landing spot for DK to park the money they were already planning on giving to ESPN. Say what you want about Barstool they are a marketing machine and will absolutely drive traffic to the app and casino 2) I can't believe PENN allowed for such a short non-compete (basically 6 months) that gave Barstool an opportunity to get back into the betting space so quickly, odd decision that I'd be curious to learn more about 3) You have to tip your cap to Dave Portnoy and Barstool CEO Erika Ayers Badan for navigating a very tilted landscape while securing another wave of money from one of the two giant operators in the space less than a year after PENN ended their agreement 👏 As always in this industry, don't get comfortable, because the next big changes are probably coming sooner than you think https://lnkd.in/gJ4yexSH

✅🖥️ CNBC (9/1): “Due in large part to Peacock, 23.5B minutes of the Olympics were streamed, up 40% from all prior Summer and Winter Olympics combined, according to a release. “Peacock delivered in every way that we hadn't before," said NBCU. Besides having all live coverage, exclusive shows like "Gold Zone," hosted by Scott Hanson of "NFL Red Zone," gave fans more options for all-day viewing. There were also features built solely for the Olympics, such as an artificial intelligence function featuring daily recaps in the voice of Al Michaels, a longtime voice of marquee NFL games. An estimated 2.8MM consumers signed up for Peacock during the first week of the Summer Games, averaging nearly 400K additions daily, according to data provider Antenna. This nearly matched the sign ups driven by Peacock's exclusive NFL Wild Card game in January, according to Antenna. The game is considered the most streamed live event in history with 27.6MM viewers, according to Nielsen. While Comcast recently reported Peacock had 33MM paid customers as of June 30 — 500K less than the prior period, and widely attributed to the loss of customers exiting after the NFL Wild Card game —analyst MoffettNathanson said it's worth noting the customers that remained since the NFL Wild Card game.” ⬇️ #streamingtv #olympics #ctv #areyoudownwithott #avod https://lnkd.in/e6Z-x9EA