- ESPN BET is now accepting bets in New York
- The operator is undergoing a soft launch in the state
- PENN Entertainment received approved from state regulators to acquire Wynn Interactive’s New York sports betting license this week
ESPN BET is now live in New York through a soft launch and will officially rollout on Friday, Sept. 27.
A PENN spokesperson has confirmed with Sports Betting Dime that ESPN BET is currently live in the Empire State and accepting bets through a soft launch. The spokesperson confirmed a full launch in the state tomorrow.
A time for the full New York launch is not yet known.
Today is a Soft Launch
The New York State Gaming Commission on Monday unanimously approved PENN Interactive’s acquisition of Wynn Interactive, which includes a sports betting license in the state. During the hearing, Chris Rogers, PENN Entertainment executive vice president, chief strategy and legal officer and secretary, said the operator would soft launch ahead of the weekend, with a full launch coming soon thereafter.
The full launch, as noted above, will come tomorrow in the state.
It’s opportunistic timing for ESPN BET, as the New York Giants take on the Dallas Cowboys during tonight’s Thursday Night Football matchup.
PENN Interactive announced its plans to acquire Wynn Interactive in February and had hoped to launch ESPN BET in New York by the end of August. PENN Entertainment CEO Jay Snowden said during the company’s Q2 earnings report that ESPN BET would likely launch in the Empire State prior to the college and NFL season.
However, news came about several weeks ago that the state gaming commission had yet to even consider PENN’s acquisition plan.
The commission approved PENN’s acquisition of the license. New York State Gaming Commission Executive Director Robert Williams assured the commission that ESPN BET would likely be a boon for the state’s overall sports betting handle.
“Wynn had not been particularly successful in the New York market, so we anticipate a new platform coming in with a highly recognized name like ESPN BET might do better than they have,” he said.
No Promos as of Yet
The soft launch has not included any promos or offers from users. Several will likely be offered when the operator fully launches in New York tomorrow, but likely won’t be at the level that other launched states have experienced.
The high tax rate in New York, 51% of gross gaming revenue, will likely lead to reduced promos or bonuses for New York users. During his Q2 earnings presentation, PENN Entertainment CEO Jay Snowden said promos would likely not be as high in the state when the operator launches.
“We will maintain our disciplined approach to customer engagement when we launch ESPN BET in New York in late August,” Snowden revealed in a press release.
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.
ESPN BET has been slow out of the gates since its Nov. 14, 2023 launch. When PENN announced the ESPN partnership agreement, Snowden said multiple times that he expected ESPN BET to be “on the podium” in many states, meaning one of the top three operators in terms of handle and/or revenue.
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 have a quick start in New York, the most robust sports betting market in the country.
ESPN, the popular sports network, is set to make a big move in the world of sports betting. Starting tomorrow, ESPN will begin accepting bets in New York, marking a significant step for the company in the rapidly growing sports betting industry.
This move comes as a result of the recent legalization of sports betting in New York, which has opened up new opportunities for companies like ESPN to capitalize on the growing demand for sports betting services. With this new development, ESPN will now be able to offer its viewers the opportunity to place bets on a wide range of sporting events, including football, basketball, baseball, and more.
In order to facilitate this new service, ESPN has partnered with a leading sports betting provider to ensure a seamless and secure betting experience for its users. This partnership will allow ESPN to offer a wide range of betting options, including live betting, prop bets, and more, giving sports fans the chance to get in on the action and potentially win big while watching their favorite teams compete.
For ESPN, this move represents a significant shift in its business model, as the company looks to diversify its revenue streams and tap into the lucrative sports betting market. By offering betting services to its viewers, ESPN is hoping to attract a new audience of sports fans who are looking to add an extra layer of excitement to their viewing experience.
Overall, ESPN’s decision to begin accepting bets in New York is a bold move that could have a major impact on the sports betting industry. With its vast reach and loyal fan base, ESPN is well positioned to become a major player in the world of sports betting, and tomorrow’s launch in New York is just the beginning of what could be a very lucrative venture for the company.