It’s information overload everywhere, and there’s not time enough to sleep and eat and stay fully apprised of what’s happening on this crazy blue dot of ours (two out of three ain’t bad). Here’s the weekend Sports Handle item, “Get a Grip,” recapping the week’s top U.S. sports betting headlines, highlighting some fresh news, and rounding up key stories.
Top stories around our network this week
Not always, but some weeks, one piece of news in the sports betting world stands out above all others. Thanks to PENN Entertainment and ESPN, this was one of those weeks.
The broad national gaming company and the televised sports behemoth dropped a bombshell that they would partner in unveiling ESPN BET in November. The digital sportsbook carrying that name in 16 states will replace PENN’s Barstool Sportsbook, which has held second-tier status for several years behind the likes of FanDuel, DraftKings, and BetMGM. PENN’s executives believe they can move into the top ranks with the benefit of the ESPN brand, and they are willing to pay the network $1.5 billion over 10 years to find out for sure.
“We’re not doing this deal to be 4 percent or 5 percent market-share players,” said PENN CEO Jay Snowden. “That’s not going to be acceptable for us. That’s not going to be acceptable for ESPN.”
Of course, the gaming company had similarly high hopes for its expensive, now-absolved partnership with Barstool Sports, which proved costly in terms of public relations and regulatory dealings as well as in real dollars. PENN shed its ownership of that controversial media company, turning it back over to founder Dave Portnoy. The Barstool name will be disappearing from PENN’s various operations, although its interactive division’s iCasinos in various states are expected to carry the Hollywood Casino brand instead of that of ESPN.
ESPN itself has been pursued as a partner by multiple sportsbook operators in recent years, most notably DraftKings, only to end up dancing with PENN. That new team, though still several months away away from giving birth to the fruit of their relationship, quickly caught the attention of peers. “They’re certainly going to be a formidable competitor,” Flutter CEO Peter Jackson acknowledged while discussing this year’s success of his company’s FanDuel Sportsbook.
The timing may have been only coincidental, but ESPN announced in the same week that “Stanford Steve” Coughlin will now be featured as sports betting analyst on its popular College GameDay show throughout the football season. And at some point this fall, those watching that show and all ESPN content can expect to see frequent references to odds posted by ESPN BET, with expectations of heavy crossover between sports viewers and sports bettors.
As the linked stories above show, Sports Handle’s staff provided heavy coverage of the new “ESPENN” transaction, naturally, and can be counted on to report continuing developments in it. As the linked stories below demonstrate, we also cover much more surrounding the sports betting industry. And for news from the broader gambling world, check out our partner site US Bets and its weekly Double Down column and Gamble On podcast.
More prep for Kentucky’s start
Seven major operators have applied for Kentucky digital licenses
BetMGM to open sportsbook at Sandy’s Racing & Gaming in Kentucky
The thin line of what’s really a sports bet
Sports betting or fantasy sports? Conflict growing around what’s legal where
Could states’ rights be wrong for industry?
Rogue nation: Is a uniform regulatory process achievable in the U.S.?
The criminal case widens in Iowa
Additional betting charges against Iowa, Iowa State athletes revealed
We feel we didn’t know the real Phil at the time
Billy Walters: Phil Mickelson tried to bet on himself at 2012 Ryder Cup
Don’t always need the big guys involved
BetSaracen going hog wild in Arkansas
More information is never a bad thing
One-stop shop for wagering media content launches app
When winners don’t get paid off
Virginia math teacher has $214K in winnings revoked by BetMGM
The mid-summer money count
Indiana sportsbooks post 11.4% hold for July
Maryland sportsbooks extend run of double-digit holds to 13 months
FanDuel continues to pace mobile sportsbooks in Virginia
Roddick serving Betway now
Betway is adding former ATP world No. 1 and 2003 U.S. Open champion Andy Roddick to its roster of sports wagering global ambassadors. Roddick will provide insight into the biggest tournaments on the ATP tour, breaking down matches and players as part of Betway’s new promotional platform, “Advantage, Served.”
“I’m delighted to be joining one of the world’s biggest betting brands and look forward to helping the tennis community with valuable insights as we approach some of the biggest global tournaments, particularly with the U.S. Open on the horizon,” Roddick said in a press release issued by the sportsbook.
Betway sponsors 11 events on the ATP Tour, and Roddick will be writing a tennis column for Betway Insider, the sportsbook’s editorial hub. Betway CEO Anthony Werkman said Roddick’s insights will be valuable for its customers “driven by data and statistics” and making use of the “Advantage, Served” platform. Among other Betway ambassadors are former English Premier League player Robbie Keane and former England cricket player Kevin Pietersen.
— Chris Altruda
Play Alberta launching sportsbook
Play Alberta has reached a long-term partnership with sportsbook provider BtoBet, securing a deal that will enable the website to roll out a suite of new offerings, the Alberta Gaming and Lottery Commission (AGLC) announced Thursday.
The partnership follows the agreement the AGLC already has in place in the Canadian province with NeoPollard Interactive. The expanded deal will allow Play Alberta to offer new in-game bets, single-game parlays, and parlay multiples, said Dan Keene, vice president of gaming for the AGLC.
As PlayAlberta.ca completes the migration, there will be an interruption of the site’s sports betting service between Saturday and Monday, the AGLC said. The agreement marks BtoBet’s entry into the North American market.
— Matt Rybaltowski
Tweet of the week
Nick Saban is not playing around with players gambling. He invited the face of player sports betting to speak to the Alabama football team recently.
Mr. Pete Rose ladies and gentlemen 🌹 pic.twitter.com/7YlvHegPqd
— Touchdown Alabama (@TDAlabamaMag) August 9, 2023
More of the most important, interesting stories
REP. TITUS AND NFL SEEM AT ODDS: Why did the NFL dodge a lawmaker’s inquiry about its betting policies? [USA TODAY]
NICE RETURN FOR ANY GENIUS: Genius benefits from betting growth as revenue rises 22.1% in Q2 [iGaming Business]
THE MAN BEHIND BET BASH: Meet “Spanky,” who left “rat race” to become top pro sports bettor [Las Vegas Review-Journal]
DON’T WORRY FOR PORTNOY: Dave Portnoy bought back Barstool Sports for $1 [The Hollywood Reporter]
Penn Entertainment had high hopes for Barstool Sports.
Now it's selling the business back to its controversial founder Dave Portnoy for just $1 https://t.co/3skagvdRKz
— Bloomberg (@business) August 11, 2023
AT THE HEAD OF THEIR CLASS: AGA announces 2023 Gaming Hall of Fame class [CDC Gaming Reports]
NO BELIEF IN THE BLUE RAIDERS: Gambler places $75K bet on Alabama vs. MTSU opener for ridiculously small return [brobible]
CRACKING THE CODE IN CANADA: Amelco secures gaming related supplier license in Ontario [iGB North America]
THINGS YOU SHOULDN’T BET ON: Jeff Merkley and colleagues voice opposition to election gambling proposal [The Center Square]
