The disintegration of the partnership between ESPN and PENN Entertainment to operate ESPN Bet has also led to programming changes for the “Worldwide Leader in Sports.”
ESPN Bet Live is set to undergo a reworking after the program was temporarily pulled from ESPN’s televised offerings amid the termination of the online sports betting agreement between ESPN and PENN, an ESPN spokesperson confirmed to SBC Americas. ESPN Bet Live, hosted by ESPN personality Tyler Fulghum, aired five days a week, providing viewers with expert betting analysis and up-to-date news and odds.
ESPN Bet Live last aired on Nov. 14. ESPN has yet to set a launch date for its reimagined sports betting program. PENN Entertainment and ESPN announced the termination of their partnership on Nov. 5.
Second rebrand for ESPN’s sports betting program
ESPN Bet Live debuted in August 2024 following the launch of ESPN Bet in November 2023. The rebranded program was formally called Daily Wager, a discussion-based program that also aired on ESPN2 multiple times a week. Daily Wager first launched in 2019 following the overturning of PASPA the year prior. ESPN broadcast Daily Wager from The LINQ in Las Vegas for three years as part of a partnership with its owner, Caesars Entertainment. ESPN later moved the show to its headquarters in Connecticut amid its deal with PENN.
End of an era for PENN & ESPN
ESPN and PENN agreed to mutually part ways, ending a 10-year deal early. The partnership dissolved only two years after the launch of ESPN Bet, as PENN had the right to terminate the deal if “specific market share performance thresholds were not met.”. PENN CEO Jay Snowden expected the sports betting brand to have a 20% market share by 2027.
PENN paid ESPN $1.5 billion in cash to launch the ESPN Bet brand, with the deal also including $500 million of warrants for ESPN to purchase 31.8 million shares of PENN Stock. The shuttered deal also provided PENN with rights to use the ESPN brand for marketing.
PENN responded to its dissolved relationship with ESPN by rebranding its online sports betting offering to theScore Bet, which launched operations in U.S. markets on Dec.1.
ESPN adds new sports betting partner
ESPN’s failed relationship with PENN led to the sports media giant securing a partnership with DraftKings, making the operator an official sportsbook and odds provider of ESPN.
ESPN and DraftKings debuted their new partnership on the same day PENN launched theScore Bet. The deal between ESPN and DraftKings allows ESPN to provide DraftKings odds that are integrated into ESPN daily broadcasts. ESPN previously used odds powered by ESPN Bet and PENN’s trading team. DraftKings and ESPN are also collaborating to provide exclusive parlays for ESPN programs, including First Take, Get Up and NFL Live.
Second shuttered sportsbook for PENN
Before its partnership with ESPN, PENN teamed up with Barstool Sports to launch Barstool Sportsbook in 2020 after purchasing a 36% stake in the media company for $163 million. PENN acquired the remaining 64% of Barstool for $388 million before ending its partnership with the company in 2023 to work with ESPN. The terminated deal between PENN and Barstool led PENN to sell Barstool back to its founder, Dave Portnoy, for $1.
