ESPN BET Bids Farewell as ESPN Joins Forces with DraftKings for a New Betting Era

On Thursday, ESPN revealed a pivotal shift in its sports betting strategy by mutually deciding to end its collaboration with Penn Entertainment early, thereby discontinuing its branded sportsbook, ESPN BET. Concurrently, the sports media behemoth announced a multiyear contract designating DraftKings as its exclusive Official Sportsbook and Odds Provider. This decision swiftly concludes the high-profile ESPN BET initiative that debuted in November 2023 under a 10-year, $2 billion partnership with Penn Entertainment. The sportsbook faced challenges in capturing substantial market share against prominent competitors like DraftKings and FanDuel, contributing to the joint decision to terminate the partnership after just two years. The exit from the agreement with Penn Entertainment is effective December 1, 2025. Following this separation, DraftKings will exclusively manage ESPN’s sports betting segment, integrating its offerings across ESPN’s extensive digital and broadcast platforms with a full rollout anticipated in 2026.