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ESPN explores sports-betting deal worth at least $3B

Disney-owned ESPN is trying to dip its toe within the sports-betting sport.

The sports activities media large is looking for to license its model to main sports-betting corporations for at least $3 billion over a number of years, based on a report Friday from the Wall Street Journal, citing nameless sources.

The community has held talks with gamers that personal main sportsbooks, together with on line casino operator Caesars Entertainment and on-line playing titan DraftKings, the publication reported. ESPN presently has advertising partnerships with each companies.

A rep for DraftKings instructed The Post: “DraftKings speaks to a variety of companies regarding various matters in the normal course of business and it is our general policy not to comment on the specifics of those discussions.”

ESPN and Caesars didn’t instantly reply for remark. It shouldn’t be clear if the businesses would forge forward with a deal with ESPN as they’re already invested in establishing their very own manufacturers on the earth of sports activities betting.

But sources instructed The Journal {that a} deal with ESPN may include an unique advertising dedication that might require the sports-betting company to speculate a specific amount of money promoting on ESPN’s platforms.

Sports-betting is predicted to herald $4 billion in income in 2021, and ESPN is searching for a method in with out being instantly concerned in betting transactions, sources stated.
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ESPN has been hesitant to leap into the sports-betting house. It dabbled with partnerships to combine odds and betting-related content material into a few of its reveals, and it has podcasts and telecasts dedicated to playing, akin to “Daily Wager.” Execs instructed The Journal that they wish to preserve ESPN from being instantly concerned in playing offers.

Sports-betting is poised to generate income of roughly $4 billion in 2021, based on analysis agency Eilers & Krejcik Gaming. The business has exploded since a 2018 Supreme Court resolution allowed states apart from Nevada to legalize sports activities betting. Currently, 32 states and the District of Columbia have legalized wagering on sports activities.

–Additional reporting by Lydia Moynihan