ESPN, Fox and other networks are ramping up their sports betting efforts.
Although ESPN, according to executives, has no plans to become a sportsbook and facilitating bets itself, it sees gambling-related coverage as an opportunity to better engage young audiences.
Media companies have greeted the arrival of legalized gambling as a chance to improve ratings as cord cutting accelerates.The NFL’s start is its strongest since 2016, the year the league faced criticism from then-presidential candidate Donald Trump over players kneeling during the national anthem to protest police violence against the Black community.
Legal betting is creating opportunities for TV programming to serve potential bettors, especially those who found the idea of using the local bookie unsavory. Wagering platform Fox Bet, which gambling company the Stars Group and Fox Corp. launched through a 2019 partnership, is now available in Colorado, Michigan, New Jersey and Pennsylvania. The deal gave Fox a 4.99% stake in the Stars Group’s U.S. business, which is now owned by gaming company FanDuel’s majority owner, Flutter.
“We’re not necessarily looking to go after the hardcore, early adopter,” said Edward Hartman, senior vice president of corporate development at Fox Corp. “The real opportunity we see is what we think will be the fattest part of the bell curve — the mass adoption phase — which is the casual sports fans who love their teams and love watching games and will have a casual wager to enhance their enjoyment of a game.
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