ESPN into a betting deal worth 3 billion dollars $$$

[wheelz1200]

Walt Disney Co.’s ESPN is seeking to license its brand to major sports-betting companies for at least $3 billion over several years, according to people familiar with the matter, aiming to capitalize on the fast-growing online gambling industry.

The sports-media giant has held talks with players that own major sportsbooks, including casino operator Caesars Entertainment Inc. and online gambling company DraftKings Inc., the people said. ESPN has existing marketing partnerships with both companies.

https://www.google.com/amp/s/www.wsj.com/amp/articles/espn-explores-sports-betting-deal-worth-at-least-3-billion-11630089962

A very positive news perse since ESPN, is now trying to explore more of their options in the betting section now how do you think this might affect the industry??

They are trying to enter the online gambling industry and I do believe that they might try and dominate the market which is already heavily competitive but it might give the users more choice perse.

What do you think
I do believe they might get involved with the crypto casinos too soon enough!!
Something to watch out for.

A very wierd turn for a Disney company but better jump in while everyone else is.  If espn jumps into the game they will take the lions share.  Their reach and advertising is so widespread in the sports world.  Definately bad news for the other gambling only companies.

[dothebeats]

This is a no-brainer for them, considering that they are already an established sports news and coverage organization that is known around the world. It's only a matter of time before they dive in to the world of sports betting, though at this point there are a lot of serious competitions that I don't think it would be easy for them to penetrate the market. Nevertheless, it still depends on the lines that they offer, how well their website design is, and how good are their offerings on the games.

[Silberman]

ESPN has reportedly been losing subscribers and revenue. They need a to secure new sources of income if they're to stay relevant. It would seem they've chosen to tap the gambling industry as the logical source.

The gambling industry already has many unofficial spokesman to promote their business. (ex - all those mybookieAG promos Colby Covington and others in MMA cut) Youtubers, social media influencers and personalities with a large follower base may be a more effective method of reaching the public. Than large networks like ESPN.

ESPN's coverage of the Jake Paul vs Tyron Woodley fight last night was so terrible. I wouldn't mind if they never covered another boxing event.

At the end of the day this is what it is about, ESPN is seeing their profits going down and they are trying to do something about it and it makes sense that they want to enter the gambling world, however I really think that the main reason why their profits are going down is simply that the product that they are offering has very low quality and if they do not concentrate themselves on trying to fix that then any solution that they may try to find is going to eventually fail.

[alpamar99]

this is the most possible thing to do even though it is risky but they dare to do this and actually this is a gamble for ESPN too because they did a very brave act.
but on the other hand they will also definitely benefit when they are on this path because I've read several articles that say that ESPN has lost their revenue significantly for several years during this pandemic, and this is a very reasonable thing to do because it is to increase fans and revenue. them to survive in this sector.
and this is also very much in line with the fact that indeed ESPN is one of the names to be reckoned with in the sports industry, and in this sector gambling is more common.

[iv4n]

ESPN has reportedly been losing subscribers and revenue. They need a to secure new sources of income if they're to stay relevant. It would seem they've chosen to tap the gambling industry as the logical source.
...

In the end, it's all about the money and how to make more money! I think you hit the point of this, ESPN will do something in order to continue to exist and to make a profit, or they will be left behind! They decided to expand their business on gambling, and probably they made the right choice here... time will tell that of course, but they have a good ground to become one of the leading sports bookies, with many live streams in their selection!
I guess this works for all businesses, either adapt and make progress or vanish from the scene!

[Fortify]

Walt Disney Co.’s ESPN is seeking to license its brand to major sports-betting companies for at least $3 billion over several years, according to people familiar with the matter, aiming to capitalize on the fast-growing online gambling industry.

The sports-media giant has held talks with players that own major sportsbooks, including casino operator Caesars Entertainment Inc. and online gambling company DraftKings Inc., the people said. ESPN has existing marketing partnerships with both companies.

https://www.google.com/amp/s/www.wsj.com/amp/articles/espn-explores-sports-betting-deal-worth-at-least-3-billion-11630089962

A very positive news perse since ESPN, is now trying to explore more of their options in the betting section now how do you think this might affect the industry??

They are trying to enter the online gambling industry and I do believe that they might try and dominate the market which is already heavily competitive but it might give the users more choice perse.

What do you think
I do believe they might get involved with the crypto casinos too soon enough!!
Something to watch out for.

It's unsurprising that they would pursue this kind of advertising and is a win-win for them really. They get an extra income stream and they get someone else to establish them as a name within the gambling scene. If it goes well, they'll end the contract once the term expires and set up independently, if it goes badly they can put all the blame on to the "horrible third party" who was totally irresponsible. It fits in with their brand perfectly and the stigma around gambling is lower than it was in the past - you see it advertised all over European TV in soccer stadiums for example. The thing is, established casino operators are probably not that interested in partnering on favorable terms to ESPN, because they know it will probably be revoked at will.

[bL4nkcode]

ESPN has reportedly been losing subscribers and revenue. They need a to secure new sources of income if they're to stay relevant. It would seem they've chosen to tap the gambling industry as the logical source.
...

In the end, it's all about the money and how to make more money! I think you hit the point of this, ESPN will do something in order to continue to exist and to make a profit, or they will be left behind! They decided to expand their business on gambling, and probably they made the right choice here... time will tell that of course, but they have a good ground to become one of the leading sports bookies, with many live streams in their selection!
I guess this works for all businesses, either adapt and make progress or vanish from the scene!

And the same reasoning could be apply, they will soon start come to this space and start accepting crypto mainly bitcoin as means of payments to their future gambling.

Well, either way, most gambling websites accept crypto payment already, though there are some who don't since regulation on the country they are based in, blocks their way.

[Minor Miner]

I do believe they might get involved with the crypto casinos too soon enough!!

I don't think so. ESPN is into sports. Since it is basically a sports channel, if it gets into gambling, it could be expected to only get involved with sports betting. That is what the deal is all about. There is no mention of ESPN getting into a casino, much less a cryptocurrency casino. The casino business is not their forte.
Anyway, it is convenient for them to get into sports betting since they are already a huge name in sports entertainment for several decades.

@Fundamentals_Of, Why not?

you know, Before ESPN two other giant sports media Fox Sports & Turner Sports started betting on sports gambling platforms. Fox Sports has made its own apps and offers people to do sports betting there. The only problem is sports gambling is not legalized at all-state in the united state but It is expanding, and in many states the Supreme Court has now legalized sports betting. so, I think ESPN may be involved with crypto casinos in the near future And can provide sports betting opportunities to their users.

[hello_good_sir]

For sure a good piece of news.

I think that if a deal was struck then there could be even better coverage of live events by these sportsbooks, which is definitely be exciting.

These large corporations are just waking up to the sheer size and importance of online sportsbooks - hopefully they recognize those in the crypto space as well.

[YOSHIE]

I've also seen Disney talking about a number of sports books about ESPN, about a $3 billion betting deal, a lot of companies say ESPN is a bit slow on this.

Disney said the $3 billion fund was not fully clear where it would come from, he said, adding that there were several aspects to the fundraising: self-licensing, rewards, or advertising, this is not clear, although it is now a public ESPN decision, Disney also mentioned that this move will have a positive impact on ESPN Studios in sports betting in the future, but what is clear is that it's just a matter of where the $3 billion is coming from.

[Zilon]

Diversifying their portfolio most especially having partnership deals with online gambling crypto companies is a clear indication of a mega step up on their gambling  business and would still create room for more partners in the future. For me it's a welcome idea and a way of boasting their investment not minding how much is involved because certainly it would be recovered within a very short period

[Wexnident]

Dominating the market might be jumping the gun a bit there. There's still a bunch of other competitors out there that would probably overwhelm or at the very least, stand equal to them after all. It's a nice path that they could take after all, they could take a large pie just because of how big their organization is. Definitely opens up sportsbook to a larger audience and could potentially increase the customers that other sportsbook get. Next up should be a crypto usage, just waiting for a bigwig to lead the way for other bignames.

[imstillthebest]

i thought they are betting worth 3b usd but it seems they are only going to enter the gambling industry  .
 sure this industry is competitive already but that was espn man and for sure lots of people in this world recognize them so its not hard for them to excell  but i dont think they will accept cryptos too early but they could start in fiat and centralized payment methods and hopefully soon they will start accepting cryptos .

[tippytoes]

What do you think
I do believe they might get involved with the crypto casinos too soon enough!!
Something to watch out for.

I thought the whole news are all about going into crypto casinos, nevertheless this is a great start and going into online gambling is a good opportunity especially now that many people tend to spend more on online gambling than to go to the physical casinos simply because there's still a threat of getting infected.

ESPN is a huge company and if they go into crypto gambling as well, then they might dominate the market but of course expect that their competitor will take this seriously, so this is till not an easy journey for ESPN.

More than likely, they will venture first in fiat-based casino and once they are settled, adding crypto may be easier for them. Fiat-based online casinos are still bigger than crypto-based. But crypto gambling business is on the rise because of the popularity of crypto in the market. And with many benefits dealing with crypto, for one, a lot of them still don't require KYC, many will be attracted to use crypto casinos once they learn the benefits derived from it.

[michellee]

Diversifying their portfolio most especially having partnership deals with online gambling crypto companies is a clear indication of a mega step up on their gambling  business and would still create room for more partners in the future. For me it's a welcome idea and a way of boasting their investment not minding how much is involved because certainly it would be recovered within a very short period

Maybe they are late to make a decision related to their conditions so they did that now. They can hope that their decision now can positively impact their company and their business so they can try to grow it in the future. But whether it will succeed in the future or not, they need to work hard to make sure that their plan will run as they want. I think it is not too late because they would be too late to realize that their business is in bankruptcy if they did not do that now. Hopefully, there will be good news from them related to their decision.

[yazher]

This is a no-brainer for them, considering that they are already an established sports news and coverage organization that is known around the world. It's only a matter of time before they dive in to the world of sports betting, though at this point there are a lot of serious competitions that I don't think it would be easy for them to penetrate the market. Nevertheless, it still depends on the lines that they offer, how well their website design is, and how good are their offerings on the games.

If they finalize this kind of environment on their channel then the result would not show just after they begin it rather they will see the result when their competitor will show the result of what they have done. I'm pretty sure it will be a media war again for the other companies will not let it slide when they see another loophole with this decision by ESPN. As if they can stop the media if they ruin some life with their idea. They need to think twice before implementing this before it's too late for them.

[Silberman]

this is the most possible thing to do even though it is risky but they dare to do this and actually this is a gamble for ESPN too because they did a very brave act.
but on the other hand they will also definitely benefit when they are on this path because I've read several articles that say that ESPN has lost their revenue significantly for several years during this pandemic, and this is a very reasonable thing to do because it is to increase fans and revenue. them to survive in this sector.
and this is also very much in line with the fact that indeed ESPN is one of the names to be reckoned with in the sports industry, and in this sector gambling is more common.

The problem is that there is no introspection, they lost viewers because of the pandemic? This in a way was natural as the world of sports was stopped almost for a year, but at the same time why are they still losing money now when sports already came back and people are devouring all the information that is sport related as they are want even more about it? The truth is the product ESPN has been offering for some time is simply not good and as long as this is the case their revenue will keep going down.

[tabas]

The problem is that there is no introspection, they lost viewers because of the pandemic? This in a way was natural as the world of sports was stopped almost for a year, but at the same time why are they still losing money now when sports already came back and people are devouring all the information that is sport related as they are want even more about it? The truth is the product ESPN has been offering for some time is simply not good and as long as this is the case their revenue will keep going down.

And that's why they're trying to upgrade their product and trying to enter to a market which probably where they really are belong. That's why they have to do something to keep up with their losses.
They're willing to reinvest a huge amount to make it happen and we don't know if the result of it will be embraced positively not only by their followers but every gambler that know about them.

[eaLiTy]

~
And that's why they're trying to upgrade their product and trying to enter to a market which probably where they really are belong. That's why they have to do something to keep up with their losses.
They're willing to reinvest a huge amount to make it happen and we don't know if the result of it will be embraced positively not only by their followers but every gambler that know about them.

ESPN literally controls world sports as they have the broadcasting rights to every sporting events and they are a huge monopoly as they already killed their competition and purchasing their competitors as far as i know and now i thought they are planning to diversify. From what i understand from the article i am not sure they are entering the gambling space or they are planning to lease out their brand image to gambling sites and planning to earn money that way.

[Poker Player]

From what i understand from the article i am not sure they are entering the gambling space or they are planning to lease out their brand image to gambling sites and planning to earn money that way.

I think it is more to lease out their brand image, kind of advertising:

But executives have said they want the company to avoid being directly involved in gambling transactions.

A brand-licensing deal would allow ESPN to profit from the boom in sports gambling without taking bets and making payouts to winners, which requires licenses in individual states.

Source: ESPN Explores Sports-Betting Deal Worth at Least $3 Billion

I don't know what would happen with this if the recent ban on gambling ads in Spain (although not a total ban, it reduces it a lot), becomes generalized and they start copying it all over the world, although I don't think so.