ESPN and DraftKings Potential Online Betting Partnership Could Be Worth $3 Billion (Report)

Shares for sports betting company DraftKings are up on Friday following a Bloomberg report that they are nearing a deal for online betting with ESPN.

According to Bloomberg, the deal could be worth as much $3 billion.

In September, Disney CEO Bob Chapek told Bloomberg, “Sports betting is a part of what our younger, say, under-35, sports audience is telling us they want as part of their sports lifestyle.”

Also Read:
Former ESPN Host Rachel Nichols Joins Showtime Basketball

Disney, which owns ESPN, acquired a stake in DraftKings as part of its acquisition of Fox’s entertainment assets in 2019. While the sports channel has betting-related shows such as “Daily Wager,” it does not yet allow betting.

ESPN chairman Jimmy Pitaro recently told Bloomberg, “We know that sports fans are craving not just more sports betting content, but they’re craving the ability to actually place bets in a seamless fashion from their online digital sports experiences.”

“We have a great, long standing relationship with ESPN. However, we speak to a variety of companies on a regular basis and don’t comment on the specifics of those conversations,” a DraftKings spokesperson told TheWrap.

ESPN did not immediately reply to TheWrap’s request for comment.

The Boston-based DraftKings is one of the sportsbooks behind California’s Prop. 27, which would make sports betting legal online and on mobile devices for anyone 21 years and older. Betting is currently illegal in California.

Also Read:
How Online Betting Is Fueling the Growth of Sports Media