Penn Entertainment has announced that ESPN Bet will officially launch on November 14 pending final regulatory approvals.
When the launch is complete all current Barstool Sportsbook customers will have their accounts converted to ESPN Bet in 17 states. While their accounts are being automatically rolled over to ESPN, current Barstool Sportsbook users will still need to download the new ESPN Bet app to place bets.
Penn sold Barstool back to its founder Dave Portnoy for $1 after it failed to gain double digit market share in sports betting markets. Penn will pay $1.5 billion over the next 10 years to use the ESPN name for its sportsbook.
Both parties have the right to terminate the deal after three years if their market share falls below a certain point. That number has never been revealed, but it has previously been suggested it is around 20 percent.
The integration of ESPN Bet in other areas has already begun. On the ESPN website odds sources have been switched over from Caesars Sportsbook and DraftKings Sportsbook to ESPN Bet odds. ESPN will also begin integrating ESPN Bet on their linear and digital platforms and launch as advertising campaign featuring SportsCenter anchors Scott Van Pelt and Elle Duncan.
In states where Penn has i-Gaming licenses, ESPN Bet will include casino games branded by Hollywood Casino. Penn currently has i-Gaming licenses in four states, including Michigan, New Jersey, Pennsylvania, and West Virginia.