A general overview of the 2020 NBA Finals at the AdventHealth Arena in the ESPN Wide World Of Sports Complex. Kevin C. Cox / Getty Images / AFP
The font looks to be on the wall of ESPN and Disney. Both ESPN and Disney have had to adapt to the growing popularity of legal sports betting. They are now looking for new ways to grow their brands via previously forbidden betting platforms. “Sure, the world is changing, and [talent] The future deals must reflect the fact that the world is changing, “said Disney CEO Bob Chapek on Tuesday at an investor conference.
The changing world also means that sports betting is now part of the overall viewer experience. It was easy to adopt legal sports betting content. ESPN had been doing this tacitly for many years, sponsoring programs on their network and placing quotas at their sports center shows.
Chapek, who was involved in general mainstreaming and the development of the sport betting market in America, told the inventors that Disney should be aggressive to increase its presence in the rapidly growing US market for sports betting.
Why did this happen?
The Supreme Court’s 2018 ruling against a blanket ban on all sports betting across the country has made legal sports betting firmly embedded in the sporting experience. According to an American Gaming Association report, 71% of Americans now accept legal sports betting in their state. 26 states now have their own platforms, and 111 millions Americans can now place legal bets online.
It was time that ESPN and Disney recognized the popularity of sports gambling.
“Let’s just say our fans are really interested in sports betting. Let’s say our partners in the leagues are interested in sports betting, so we’re interested in sports betting, ”Chapek agreed. “Strategically, sports betting offers us the opportunity to address a much younger sports fan who has a very strong affinity for these sports. This is definitely the place we want.
Gambling and Disney?
Disney and ESPN: What is gambling? The perks offered by Fox Sports and FOX Bet, NBC and PointsBets, CBS, Caesars and Bally’s, Sinclair, CBS, CBS and CBS have been enormous and have yet to exclude ESPN from their main source of income.
Disney is THE most popular and iconic sports media outlet worldwide. The leap to legal sports by ESPN would guarantee success – something that the new Disney CEO noted. He said that the company “is making some very big steps down this road.”
This seems more logical than necessary for Disney.
How far will they go
It remains to be seen how far Disney / ESPN will go with their foray into the legal sports betting industry. According to Wall Street Journal reports, the company has licensing agreements in the region of $ 3 billion. While it appears that a sports betting provider under ESPN is still a ways off, it could happen.
Bob Chapek said, “There is a long way between being embedded into the ESPN business model and licensing it the name.” When asked about her goals to get into legal sports betting, she stated that there was still much work. He was able to offer full support for an ESPN-branded sports betting company, but he left the door open for other sports betting affiliations.
There will not be a shortage companies coming up to Disney and ESPN. Caesars and one the DFS giants were mentioned in last month’s Wall Street Journal Report. They are now looking to partner with the company. Eilers & Krejcik mentioned Rush Street. “There is logic to a [deal between the two]. BetRivers has struggled to gain a foothold in markets that don’t have a large casino retail presence and ESPNBet would certainly change that, ”The company stated.
You have come a long way
We don’t have to go very far back to see Disney’s reluctance to accept legal sports betting. Bob Iger, then-CEO of Disney, stated that the company wouldn’t get into sports betting unless it made gambling easier. Now, in 2021, the CEO stated that the company was “making some very big steps down the path.”
It’s only a matter if ESPN will offer more than just quotas for their programs. The company will begin to profit financially from the legal sports betting market that has taken the US by storm. It is supported by 7/10 Americans.
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