ESPN to Make Bold Move into Sports Betting
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Source Summary
Walt Disney CEO Bob Chapek revealed in September that ESPN plans to enter the sports betting market. He later clarified that while ESPN itself would never become a sportsbook, the network plans to partner with a betting company in order to maintain Disney’s family image while cashing in on the rapid growth of digital sports betting. In October, DraftKings shares shot up on a day when the overall stock market sagged. The reason: several reports that DraftKings, ESPN’s fantasy football operator, was close to a deal that would extend the partnership to include sports betting.