ESPN Bet Wants To Change Sports Gambling. What Are Its Chances? ...Middle East

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ESPN Bet Wants To Change Sports Gambling. What Are Its Chances?
With this week’s launch of the newest U.S. sportsbook, a Goliath gets to feel what it’s like to be David. ESPN Bet is now live in 17 states — but it’s starting off with about a 2% market share of American sports gamblers.  That market share comes from the remnants of PENN Entertainment’s Barstool Sportsbook product, which has been folded into a $2 billion partnership to license ESPN branding. PENN will pay Disney $150 million annually for the next 10 years and is granting Disney about $500 million in stock warrants to purchase PENN shares. The biggest obstacle facing ESPN Bet is the U.S. sports betting duopoly of FanDuel and DraftKings, which hold roughly 73% of the country’s sports gambli

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