Category: Analyst POV

A sportsbook’s goal is to attract even amount of bets and dollars on both sides in a game so that they can lock in a risk-free profit. FALSE.

The juxtaposition of DraftKings and PENN with the former’s strong profitability and the latter’s ESPN Bet early stumble is jarring and unequivocal.

PENN’s rebrand as ESPN BET is set to launch in 17 states on November 14th following PENN’s $2 billion+ licensing partnership deal with ESPN announced in August.