💰 ESPN and Fox Ante Up for Sports-Betting Jackpot - WSJ

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One year into legal U.S. sports betting - What have we learned?
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Pro sports leagues and media companies partnering with casinos, nearly $8 billion wagered and plenty of mistakes. Here's what we've learned.


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Pro sports leagues and media companies partnering with casinos, nearly $8 billion wagered and plenty of mistakes. Here's what we've learned.


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After decades of staunch opposition to sports betting, the NFL allowing and something few stakeholders in the gambling industry saw coming.


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Pro sports leagues and media companies partnering with casinos, nearly $8 billion wagered and plenty of mistakes. Here's what we've learned.


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First it was Turner Sports, then Fox Sports and now it's ESPN's turn. Sports media is betting big on sports gambling.


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WarnerMedia among media giants producing content geared to gamblers after Supreme Court ruling. ESPN's coverage of the NBA Finals.


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This is mostly about one thing: cord cutting. In fact, there is currently more momentum behind expanding full-scale sports wagering beyond Nevada than at any time in modern history. Consider the following: 1. To determine which course of action may be appropriate for you, consult your financial advisor. Investment advice offered through Gerber Kawasaki Inc, a registered investment advisor. However, that argument is unconvincing. President Trump is a former casino owner who has been known to be sympathetic to the cause. Contact us at {/INSERTKEYS}{/PARAGRAPH} Legalized sports gambling is coming — probably not this year and maybe not next. New Jersey has been engaged in a multi-year effort to allow sports betting, and a handful of other states, including Michigan, New York, Pennsylvania and West Virginia are expected to consider bills this year that would eventually make it legal in those states as well, according to ESPN. Meanwhile, few should doubt that gambling leads to higher levels of engagement and increases the popularity of individual games that otherwise have very little attraction for a broader audience. The opinions voiced in this material are for general information only and are not intended to provide specific advice or recommendations for any individual. Of course, this is hardly news. Greater interest and more viewers equal more advertising dollars, and, naturally, that would be good news for ESPN. {PARAGRAPH}{INSERTKEYS}ESPN has a problem. If ESPN fails to move, a countless number of tech firms and various startups will fill the vacuum and create, facilitate and profit from betting exchanges, including companies like Activision or Amazon, which have a history of getting ahead of big trends. House committee just released draft legislation that would repeal the federal ban on sports betting, leaving the issue for states to decide. This is hardly a pipe dream, despite what many may think. New technologies and ballooning cable bills have led to a rapid decline in the number of households that pay hundreds of dollars for TV each month, with ESPN having lost 11 million subscribers since One other thing, however, would jolt its business even further: legalized sports gambling. No strategy assures success or protects against loss. Gerber Kawasaki, Ocean Park Blvd. MGM or Caesars, given the scale of their operations, would be a perfect match for this type of project. Indeed, it should partner with a major gaming company that has operations in multiple states to create a framework for integrating mobile betting into its app, making placing a wager as easy as accessing a news story, video content, scores or other statistics. The ongoing trend soured an otherwise positive first quarter for parent Disney, whose theme parks and movie division performed exceedingly well. But it will be a reality eventually, and as a rights holder of much-coveted live sports content, ESPN will be a beneficiary. Again, none of this is pie in the sky. Fantasy football and daily fantasy sports sites such as Fan Duel and Draftkings, which continue to chug along despite facing legal pressures in multiple states, are a further testament to the powerful pull of having money on the outcome of a game. However, to take full advantage, the company, as perhaps the most recognized sports brand in the country, needs to aggressively drive the trend versus merely sitting back and reaping the benefits of it.