The mid-November debut of ESPN Bet helped fuel more state betting handle records in top markets such as Pennsylvania and Massachusetts.īeginning as a reskinned version of the former Barstool Sportsbook and Casino app, the Disney-PENN strategy for ESPN Bet, in many ways, looks to replicate the seamless integration between sports media and betting seen with PENN’s theScore in Canada, where consumers easily move between reading content and building betting slips.Ī key early sign of the now-shifting betting market occurred in Pennsylvania, where PENN turned a sixth-place ranking and a 3.8% market share in October, with the Barstool app, into a third-place position and 7% market share-behind only FanDuel and DraftKings-the following month.

Most dramatically, the biggest brand in sports media, ESPN, finally entered the space through a $2 billion deal with PENN Entertainment. DraftKings is set to end the year with its stock value up by more than 220% amid fast-growing revenue, while FanDuel, the American sports betting market leader, is preparing its own U.S. On a company level, too, signs of meteoric growth were easily found. In November, New York set an American state record for monthly handle with a total of $2.1 billion.

For the January-September period, $78.7 billion has already been recorded. The American Gaming Association projects that the total sports betting handle for the year will exceed $100 billion. Supreme Court ruled in 2018 to allow states to make their own laws in this area. The topline indicators of the sports wagering business pointed to the robust and expanding market that advocates dreamt of when the U.S. Along the way, it claimed some victims while its competitive landscape changed materially. Legal sports betting exploded to unprecedented size and prominence in 2023.

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