ESPN Bet, a rebranded sports betting app from Penn Entertainment, is here

NEW YORK CITY– ESPN Bet, a sports-gambling service rebranded with the name of the Disney-owned sports channel, introduced Tuesday in 17 U.S. states.

Penn Entertainment, which owns the service, signed a $1.5 billion handle ESPN for rights to the sports media giant’s name in August. Under the arrangement, Penn will run ESPN Bet while ESPN promotes the app throughout its online and broadcast platforms.

A Penn representative stated the ESPN Bet app was likewise set up to introduce Tuesday afternoon, however did not offer a particular time.

ESPN Bet was set to go reside in the following states: Arizona, Colorado, Illinois, Indiana, Iowa, Kansas, Kentucky, LouisianaMaryland, Massachusetts, Michigan, New Jersey, Ohio, Pennsylvania, Tennessee, Virginia and West Virginia.

Under August’s contract, Penn’s rights to the ESPN brand name will at first run for a years with the choice of extension for another 10 years. In addition to the $1.5 billion licensing offer, Penn likewise stated it would approve ESPN rights worth about $500 million to buy shares in Penn.

ESPN Bet is a rebranding of an existing sports-betting app, Barstool Sportsbook. In August, Penn stated it offered Barstool Sports back to its creator Dave Portnoy.

The upcoming launch of ESPN Bet might take Walt Disney Co. into uncharted waters. Disney is increasingly protective of its family-friendly image, not usually related to the world of sports betting.

At the time of August’s contract, ESPN stated it will utilize its platforms “to inform sports fans on accountable video gaming”– for example, by continuing to cover the sports wagering market with “journalistic stability,” producing a “accountable video gaming” committee within the business and establishing marketing standards that “secure” fans.