Disney and PENN Entertainment’s joint sports betting venture was cemented Tuesday with the launch of the new online betting platform ESPN Bet.
The brand-new sportsbook is available in 17 states and comes with web, online, and mobile sports betting apps. It will also combine the traditional sports coverage and media content of ESPN with up-to-the-minute betting odds and sports wagering.
PENN previously operated Barstool Sportsbook and sold it back to Barstool founder Dave Portnoy for just $1 to enter the market with Disney and ESPN. Their agreement will see PENN pay Disney $1.5 billion over 10 years with another $500 million in stock warrants.