Launch Represents Major Victory for ESPN Bet
Since launching earlier this year, ESPN Bet has struggled to compete in markets across the US. However, gaining access to the country’s biggest market could significantly boost its overall numbers. Given ESPN’s brand popularity in the state, the operator believes they can make a significant splash.
PENN’s acquisition of the now-defunct WynnBet platform was made primarily because of its licenses, including New York. The gaming giant has done this before with the platform, allowing it to expand quickly without the painful approval process.
While big revenue numbers aren’t guaranteed, access to the massive market will give ESPN Bet a chance to shift the sports betting landscape and elevate itself to become one of the country’s top five sportsbooks.
Timing is Nearly Perfect for Launch
Going live in New York is a big deal regardless of when it happens, but the timing of ESPN Bet’s debut was nearly perfect. The NFL season is only three weeks in, meaning the sportsbook will be live for most of it.
The NFL has always been the country’s most popular sport, and it is drawing far more wagers than the other pro leagues. The American Gaming Association is projecting this NFL season will have a handle around $35 billion, a 30% increase from the previous year.
DraftKings Continues to Lead New York Market
FanDuel and DraftKings dominate the sports betting market in the US, but the former usually leads the way. That seems to be changing in the New York, with DraftKings leading the state in handle in August. The two rivals have been close for some time, but it appears DraftKings may be starting to take over.
The battle between FanDuel and DraftKings will be affected by the launch of ESPN Bet. While the new operator is far smaller, their brand name could lead to customers from both industry-giants switching.