- ESPN BET has fully launched in New York
- The newest sports betting operator soft launched in the Empire State on Thursday
- New York now has nine live sports betting operators
ESPN BET is now fully live in New York, one of the largest and most lucrative sports betting markets in the world.
The full launch comes one day after the operator started accepting wagers in the Empire State. All of ESPN BET’s markets and promotions are now available for customers in New York.
The New York State Gaming Commission on Monday unanimously approved PENN Interactive’s acquisition of Wynn Interactive, which included a sports betting license in the state.
Nine Operators Now Available
ESPN BET is the latest sports betting operator to open its doors in New York. PENN Entertainment has long desired entry into the New York market, which it finally did when it announced plans to acquire Wynn Interactive in February.
PENN had attempted to enter the New York market before during its initial sports betting partnership with Barstool Sports.
PENN Entertainment was an original applicant through its Barstool Sportsbook partnership when New York opened its licensing process in 2021 for its nine initial online sports betting licenses. PENN and its Barstool Sportsbook brand partnered with Fanatics Betting and Gaming and Kambi for a joint application. The three companies projected its bid could result in $1 billion in incremental tax revenue for the Empire State over a decade.
Ultimately, the New York State Gaming Commission did not accept the group’s bid.
PENN finally broke into the market in full today, as ESPN BET joins these eight other live operators:
Important Market for ESPN BET
New York will be a key market for ESPN BET. It’s by far the largest market the operator is currently live in and will be a crucial state for ESPN BET to gain ground on the top sports betting operators in the country.
The newest Empire State operator will have its chances, as New York’s handle totals are far and away the highest in the U.S.
In August alone, New York sports betting customers wagered more than $1.4 billion. The state reported gross gaming revenues of nearly $125 million, of which $61.2 million went to the sports betting operators.
WynnBET never gained much traction in New York, so ESPN BET does not have a high hill to climb. However, it will enter into a crowded market where it must make some inroads if it hopes to have more of a national impact. PENN Entertainment CEO Jay Snowden noted during the initial partnership announcement with ESPN that he hoped the new sportsbook would be “on the podium” in many states.
However, ESPN BET has struggled to crack the top-three of operators, even the top-five, in many states it’s licensed in. If ESPN BET hopes to gain ground on market leaders FanDuel and DraftKings, it needs a strong NFL performance and it needs to be a major presence in the Empire State.
ESPN, the worldwide leader in sports, has recently launched a live betting platform in the New York sports betting market. This move comes as a response to the growing popularity of sports betting in the United States, following the Supreme Court’s decision to legalize it in 2018.
The platform, which is available on ESPN’s website and mobile app, allows users to place bets on live sporting events in real-time. This means that fans can now wager on games as they are happening, adding an extra layer of excitement to the viewing experience.
Live betting, also known as in-play betting, has become increasingly popular in recent years due to its fast-paced nature and the ability for bettors to react to changing circumstances during a game. With ESPN’s new platform, fans can now engage with their favorite sports in a whole new way.
The launch of the live betting platform in New York is particularly significant, as the state has one of the largest sports betting markets in the country. With the addition of ESPN’s platform, New York sports fans now have even more options when it comes to placing bets on their favorite teams and players.
In addition to live betting, ESPN’s platform also offers a wide range of traditional betting options, including moneyline bets, point spreads, and over/under bets. This means that users can choose from a variety of wagering options to suit their preferences and betting strategies.
Overall, ESPN’s launch of a live betting platform in the New York sports betting market is a significant development for sports fans and bettors alike. With the ability to place bets in real-time and engage with sporting events like never before, this new platform is sure to enhance the overall sports betting experience for fans across the state.
