ESPN is set to unveil the rebranded sports betting news and information program, ESPN BET Live, on Friday night from its headquarters in Bristol, Conn. in a new studio. The highly anticipated debut of the program will feature various ESPN talents around the ESPN BET branding, which includes a distinctive identity and palette to distinguish the property from the rest of the network. Talent from the program formerly known as Daily Wager – such as Joe Fortenbaugh, Erin Dolan and Anita Marks – are expected to appear on the first episode of the newly named show. The rebrand will be formally unveiled on the first episode under the new name, ESPN BET Live, on Friday, Nov. 10 beginning at 6 p.m. EST/3 p.m. PST on ESPN2 and available to stream on ESPN+.
Upon its launch on Tuesday, the network will reveal two promotional spots featuring SportsCenter anchors Scott Van Pelt and Elle Duncan. The sportsbook is also the official odds provider of ESPN and will be featured throughout the network’s studio-based programming and live game broadcasts. The entity is being operated by PENN Entertainment and is set to enter the first year of a 10-year contract worth a reported $1.5 billion. Within the deal, there is $159 million in performance warrants pursuant to attaining a total market share of 25% or more, currently set at a strike price of $28.95.
During the ESPN Edge Conference in New York City on Thursday, the network revealed more information about the sportsbook in a panel with Mike Morrison, ESPN vice president of sports betting and fantasy, along with Jay Snowden, PENN Entertainment chief executive officer and president. Work by ESPN Creative Studio was revealed at that time, demonstrating the look and feel that will surround the brand and its concomitant mobile application.
The addition of ESPN BET takes place at a time when The Walt Disney Company is in the midst of looking for a strategic partner to purchase a minority equity stake in the network. There is also work being done to develop a direct-to-consumer product by 2025, authorizing consumers with a new way to engage with the network.
Disney recently reported its quarterly earnings and revealed that ESPN garnered domestic operating income of $987 million, up 16% year-over-year (YoY). Total quarterly domestic revenue for the network reached $3.81 million, while ESPN+ subscriptions grew by 800,000 in the quarter, equating to a total of 26 million.
ESPN BET has a planned launch across 17 states on Tuesday, Nov. 14, marking the company’s first foray into the sports betting space as it works to continue serving the sports fan anytime, anywhere.
