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ESPN BET will officially launch on Tuesday, Nov. 14, welcoming another huge brand into the U.S. sports betting space.
Penn Entertainment is transitioning its Barstool Sportsbook product to ESPN BET and in less than two weeks it will officially switch the brand.
Penn CEO Jay Snowden said all Barstool accounts will transition seamlessly to ESPN BET, with account balances also moving over once users download the ESPN BET app and log in using their old credentials.
It’s unclear whether the ESPN BET promo code offers will be available to users who already have the Barstool Sportsbook.
Stay up to date with the latest news on ESPN Bet and see if you are eligible for an ESPN Bet promo code.
Barstool is live in 16 states, and Penn will add Kentucky to the fold since it never launched there last month due to this transition.
ESPN BET will be live from the start in Arizona, Colorado, Illinois, Indiana, Iowa, Kansas, Kentucky, Louisiana, Maryland, Massachusetts, Michigan, New Jersey, Ohio, Pennsylvania, Tennessee, Virginia and West Virginia.
The sportsbook app itself shouldn’t be all that different. Penn bought theScore in 2021, and this summer finished transitioning the Barstool Sportsbook away from third-party odds provider Kambi and to its own internal technology powered by theScore.
ESPN’s Scott Van Pelt teases the new ESPN Bet. ESPN
Penn said it expects an EBITDAR (earnings before interest, taxes, depreciation, amortization and restructuring or rent costs) loss of $100M-$150M in Q4 due to this transition.
Penn is expected to pay between $1.5-2 billion to license and leverage the ESPN brand for its sportsbook, which has garnered little market share nationally as Barstool Sportsbook.
Some estimates put it at three to four percent nationally, and in Ohio, where we have firm revenue and handle numbers, it garnered about four percent market share in the first six months of operation.
ESPN Bet announces launch date for sports betting app
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