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Read Full BioESPN Bet announced the launch of FanCenter, which aims to capitalize on the new agreement between ESPN and the NFL.
The sportsbook announced the launch of the new “personalized hub within ESPN BET that will allow customers to easily find wagering markets based on their favorite teams, players, and ESPN fantasy football rosters.”
Key components of FanCenter include the “‘Fantasy Bet Builder’, which highlights markets correlated to a user’s ESPN Fantasy roster, allowing them to back their squad in just a few taps.”
The increased integration of fantasy football with ESPN Bet follows ESPN’s reported deal to acquire the NFL’s fantasy football operations and related assets, which has now become official.
‘Biggest Product Leap Yet’ Aims to Revive ESPN Bet
Aaron LaBerge, Chief Technology Officer and Head of Interactive at PENN Entertainment, commented that “FanCenter introduces a completely new level of personalization for ESPN BET and represents our biggest product leap yet.”
“It taps into our players’ fandom in smart, creative ways while connecting seamlessly with ESPN’s industry-leading fantasy football platform. This is what sets ESPN BET apart and football season is the perfect time to show it off.”
PENN’s launch of ESPN Bet has yet to justify its $2 billion investment, and the company is reportedly considering ending the venture when the partnership is up for review next year. CEO Jay Snowden and Chairman David Handler noted that sports betting “has not met our expectations” earlier this year.
The company failed in its previous attempt to enter the sports betting market through Barstool Sports and has recently announced layoffs of employees at theScore, its sports betting and media venture in Canada.
However, the deal between ESPN and the NFL has the potential to make ESPN Bet one of the leading platforms for NFL gambling, which is the most popular sport in the US for betting.
According to the American Gaming Association (AGA), approximately $35 billion was projected to be wagered on the NFL last season.
PENN’s Betting on Football Season to Deliver Big Numbers
PENN’s revenue for its interactive gaming segment in 2024 was approximately $718.8 million, up from $663.1 million in 2023. This includes ESPN Bet, as well as theScore and Hollywood Casino.
Q2 results are due to be released this week, but it will be the Q3 and Q4 numbers during football season that give a stronger indication of whether ESPN Bet is worth continuing past next year.
PENN had initially targeted ESPN Bet to hold a 4.7% share of the online betting market at the end of 2025, compared to 3.7% at the end of 2024. Results in Q1 fell short of this level, at approximately 2.7%.
In addition to the launch of FanCenter, ESPN Bet is also hoping to gain more traction with bettors through the integration into ESPN’s new $29.99 NFL subscription service.
PENN has been heavily criticized by investors for its failures in sports betting thus far, with its stock price continuing to plummet. Currently, the company’s share price is $17.65, continuing its steady decline since reaching an inflated high of $136.47 in March 2021.
