The sports gambling world saw a seismic shift on Tuesday as ESPN officially got in on the sportsbook game.
The sports media company will officially partner with PENN Entertainment to create “ESPN Bet,” a new sportsbook that links directly to ESPN’s content.
Per our Prince J. Grimes, “PENN was previously partnered with Barstool Sports and branded as Barstool Sportsbook but announced in a separate release that it was divesting its entire stake in the company to founder David Portnoy.”
Now, PENN will fuel ESPN Bet, which puts ESPN (and the Walt Disney Company at a larger view) squarely into the world of sports gambling.
However, sports fans pointed out the obvious conundrum that any media outlet faces that combines betting and reporting. Will your reporters influence the betting lines?
Around the 2023 NBA Draft, NBA insider Shams Charania earned some fair critiques after his reporting on the second-overall pick swung the lines at FanDuel, where he works. The report ultimately did not come to fruition, leaving some crying foul that they’d bet at FanDuel on Charania’s scoop.
With ESPN Bet now on the horizon — and with PENN reportedly gaining access to ESPN talent as part of the deal — sports fans wondered how this is going to work as the company employs many sports insiders who could influence betting lines one way or the other.
Fans also, of course, had plenty of jokes to get off at ESPN’s expense.
The reactions were very curious with how this is going to work.
Remember when the Celtics were 95% to beat the Heat…please god give us odds based on ESPN Analytics https://t.co/cy3bUwOy6a
— George Chahrouri (@PFF_George) August 8, 2023
Hi @espn! 👋 Wanted to share a big congratulations from the entire industry. We are very excited to hear that you’ve decided to start your own Sportsbook. For everyone’s sake we certainly hope your analytics department is HEAVILY involved. pic.twitter.com/pKuftz2bbv
— Jeffrey Benson (@JeffreyBenson12) August 8, 2023
I don’t think ESPN’s analytics department will have anything to do with the sportsbook but it’s a fair question to ask “why not?”
If it’s accurate enough, why wouldn’t you use it for bookmaking?
If it isn’t, how much value does it provide the public?
— Neil Greenberg (@ngreenberg) August 8, 2023
What’s going to happen when ESPN’s on-air analytics widget or social media channel estimates a team has a 3% chance to win a series but ESPN’s sportsbook offers +150? pic.twitter.com/vTVQzptEMz
— Neil Greenberg (@ngreenberg) August 8, 2023
We saw how weird things got with Shams. Now, there’s Woj and Schefter. Nice.
— ™️Marcus (@TheMisterMarcus) August 8, 2023
Would ESPNBet have priced Heat over the Celtics at 32-1? Sign me up. pic.twitter.com/EuBv68i1XF
— Eli Hershkovich (@EliHershkovich) August 8, 2023
I can't wait for Adam Schefter to completely change the #1 pick market on ESPNBet. That'll be fun.
— Aaron Oster (@TheAOster) August 8, 2023
ESPN Bet using FPI to price football games… https://t.co/kgjaSuERQH pic.twitter.com/YwSsIosjdx
— Todd Fuhrman (@ToddFuhrman) August 8, 2023
the idea that a user will start using espnbet over all of the other places where they already have funded wallets just because espn is where they get their sports news is so laughable
that's like me starting to get my underwear from whole foods just because i get groceries there
— nik bonaddio (@nikbonaddio) August 8, 2023
The guardrails in place here are going to be absolutely critical and the best thing ESPN can do is get out in front and explain how it will work before we get another Shams-NBA Draft situation. https://t.co/neBdTDnD2l
— Blake Schuster (@Schustee) August 8, 2023
this operation can’t get underway soon enough https://t.co/M3W0KkcpTs
— Nick Switala (@Nick_Switala) August 8, 2023
ESPN bet will be our friends, if they are gonna use their analytical team.
— pat (o) (@Patkk151515) August 8, 2023
After the whole Shams debacle with the NBA Draft and changing the odds with FanDuel, I cannot wait for this to backfire when Woj or Schefter give a report on a player that turns out to be inaccurate that adjusts ESPN’s betting lines accordingly https://t.co/TFSmRguPvK
— JaguarGator9 (@JaguarGator9NFL) August 8, 2023
I can’t be the only one slightly concerned that ESPN, that reports the news in sports, will also be marketing betting sports at the same exact time…would seem very easy to manipulate that marketplace without very much effort
— Ethan (@St_Horne) August 8, 2023
"ESPN has entered the bookmaking space" pic.twitter.com/Ym90vfCwCq
— Josh ADHD (@Josh_ADHD) August 8, 2023
