As ESPN and PENN Entertainment are parting ways, DraftKings has now been officially handpicked by the former to become its new sportsbook and odds provider. The deal was announced on Thursday, with DraftKings to assume this new role effective on December 1, 2025.
ESPN taps DraftKings for odds and further synergies in betting, as PENN exits
ESPN and PENN Entertainment’s relationship has long been on the ropes, with the sportsbook and sports media powerhouse failing to put a dent in the highly competitive betting market, which has been mostly dominated by FanDuel and DraftKings.
ESPN Bet is effectively shutting down, with PENN Entertainment rebranding its sportsbook to theScore Bet, and ESPN now focusing on other media opportunities within the space, as per a statement.
Commenting on the opportunity to thicken ties with DraftKings, ESPN Chairman Jimmy Pitaro had this to say:
"Our betting approach has focused on offering an integrated experience within our products. Working with DraftKings, a leader in the space, will allow us to build upon that foundation, continue to super-serve passionate sports fans, and grow our ESPN direct-to-consumer business. We are excited about this new collaboration with DraftKings."
JaySnowden, PENN Entertainment’s boss, also spoke about the divorce on Thursday’s earnings call and said that it has been a long time.
"We also know what that threshold level was of market share to be at by the third anniversary and we could see through the first couple months of football season, though we’re making a lot of improvements in several areas that we’ve shared, we weren’t on a path, a trajectory, to get to that level of market share," Snowden said, commenting on the underwhelming results achieved by the ESPN-PENN partnership.
DraftKings confident that deal will empower ESPN's story telling power
In the meantime, DraftKings’ CEO and Co-Founder, Jason Robins, was happy with the opportunity to see his company partner up with ESPN, which he described as a "natural fit." He further hailed the implied synergies between the two companies and enhanced ESPN’s iconic storytelling brand.
"Together, we’re delivering a seamless, engaging, and responsible experience that elevates how fans connect with live sports," Jason added.
Even though ESPN will no longer have a standalone betting app, it will continue to support betting options within the ESPN app, powered by DraftKings.
