Still, that could ultimately just be an opportunity for DraftKings, FanDuel, and others to swoop in for more customers once ESPN Bet’s initial promotions wear off.ĮSPN Bet certainly represents an intriguing evolution in the short lifespan of America’s legal sports gambling industry. The idea is that perhaps ESPN Bet, with its mainstream appeal, could end up unlocking a new set of sports bettors who aren’t as intimidated thanks to the familiar branding. “Now we’re going to start to see how many of the newer casual fans will come into the sports betting ecosystem,” said Chris Bevilacqua, a longtime sports media executive and investor, co-founder and CEO of microbetting technology company Simplebet.

market at this stage of the game is an impressive number,” Chris Grove, a co-founding partner of gaming-focused venture capital fund Acies Investments, told FOS.īut the market share numbers aren’t completely black-and-white. The consensus seems to be that getting to even 10% in the coming years would be a success. Those are the words industry insiders used to describe ESPN Bet’s goal of 20% market share. However, many think that goal will be difficult to reach.

operations.ĭespite the existing competition, ESPN Bet’s backers project they can attain 20% market share by 2027. Here’s how the top five shakes out:īeyond the top pair’s stranglehold and operators like Caesars and BetMGM retaining strong footholds, Fanatics is becoming more aggressive in sports betting after acquiring PointsBet’s U.S. sports betting duopoly of FanDuel and DraftKings, which hold roughly 73% of the country’s sports gambling market share, according to a recent report from research firm Eilers & Krejcik Gaming. The biggest obstacle facing ESPN Bet is the U.S. PENN will pay Disney $150 million annually for the next 10 years and is granting Disney about $500 million in stock warrants to purchase PENN shares. That market share comes from the remnants of PENN Entertainment’s Barstool Sportsbook product, which has been folded into a $2 billion partnership to license ESPN branding. sportsbook, a Goliath gets to feel what it’s like to be David.ĮSPN Bet is now live in 17 states - but it’s starting off with about a 2% market share of American sports gamblers. With this week’s launch of the newest U.S.

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