When it comes to platforms for sports betting, standing out from the crowd is crucial. While some focus on offering vast betting options, others emphasize higher limits or microbetting features. ESPN Bet is strategically leveraging its connection to ESPN, the renowned sports media giant.
ESPN Bet sees the integration of its app with the ESPN brand as a significant competitive edge. Mike Morrison, vice president of ESPN Bet and ESPN Fantasy, noted that, “Linking provides insights into betting habits, especially among high-value players who engage frequently in fantasy or betting activities. These individuals represent valuable customers for ESPN, and we’re keen on creating engaging experiences for them.”
### Switching Between Apps
On November 1, ESPN Bet announced a new linkage between its betting app and ESPN’s media platform. This allows ESPN Bet users to monitor their wagers on either app and stream any ESPN-broadcasted game directly through the betting app. Linking accounts is fast, taking under a minute.
Morrison mentioned that a “gamecast and watch” feature was added to the app in late November. Bettors can see an icon indicating available games, which they can then view without leaving the ESPN Bet app. “Our aim is to offer an enhanced user experience through seamless app switching, based on the lessons learned so far,” Morrison stated.
The integration with technology partner Penn Entertainment allows ESPN Bet to better understand consumer preferences, tailoring betting options based on individual interests.
### Ongoing ESPN-ESPN Bet Promotion
Since ESPN Bet’s launch on November 11, 2023, both ESPN and ESPN Bet have engaged in extensive cross-promotion. ESPN personalities feature in ESPN Bet’s advertising efforts, and vice versa. The app linking further dissolves barriers between the two entities.
ESPN BET Live follows a weekly schedule, airing across various ESPN networks on specified days.
This partnership marks the first collaboration of its kind between a US gambling and media company. However, it isn’t the first in North America, as Canada’s TheScore introduced theScoreBet in New Jersey in 2019 and later expanded to Canada.
### The Innovative BetMode Concept
Penn played a role in the development of TheScore’s betting app. After acquiring TheScore in October 2021 for $2 billion, Penn observed TheScoreBet’s “BetMode,” which provides users with real-time odds and scoring updates. This feature has evolved to allow bet slip creation within the media app and streamlined login with facial recognition.
theScoreBet celebrates the @BlueJays postseason with the October Baseball Grill!
Morrison highlighted the appeal of BetMode for ESPN Bet’s future enhancements, noting its seamless and intuitive approach. “We envision offering similar choices to our users, embracing interconnectivity as we enhance our service.”
While the technology is ready, ESPN and ESPN Bet are still exploring the optimal marketing strategy.
### JP Morgan’s Optimistic Perspective
Though Penn Entertainment’s stock hasn’t been favored by analysts, JP Morgan’s Joseph Greff views the ESPN partnership positively. He suggests that ESPN Bet’s success could significantly influence stock performance. Although his view is contrary to general opinion, he raised the projected share target and anticipates favorable returns by 2026.
Despite ESPN Bet holding a modest 1.5% national market share in November, compared to the combined 78% of DraftKings and FanDuel, the linking strategy intends to boost ESPN Bet’s presence in the industry.
### Addressing FOMO and Fantasy Products
Morrison shared insights gleaned from recent events, particularly the Jake Paul-Mike Tyson fight, which spurred new account sign-ups during technical streaming issues. “Such events showcase the potential of FOMO,” he remarked.
During the [ESPN Edge event](https://espnedge.com/conference/), it was reported by Forbes that tens of thousands had tried the account linking in just its first operational week, and numbers continue to rise.
Ultimately, the goal is to engage fans where they are, with account linking playing a pivotal role. While digital sports betting remains illegal in some US states, ESPN Bet is active in these regions via fantasy platforms, positioning itself for future legalization.
Like its competitors, ESPN Bet is building a customer base to transition to online betting when authorized. However, it offers a unique advantage with its extensive streaming content and direct sports media integration. “When legalization occurs, we aim to provide a comprehensive offering to our users,” Morrison explained. “Our strategy is to prioritize the fan experience, integrating storytelling and audience growth.”