Sports Betting Weekly Wrap: Drake Loses $850K, Bettor Turns $28 Into $486K, Best NFL Teams For Bettors And More
Portfolio Pulse from Chris Katje
The sports betting market continues to grow with more states legalizing and more platforms launching. PENN Entertainment Inc (NASDAQ:PENN) has landed a licensing deal with Walt Disney Co (NYSE:DIS) for the ESPN Bet platform, set to launch in November. DraftKings Inc (NASDAQ:DKNG) also featured in the news as a bettor turned a $28.60 bet into a win of $486,021.92. The state of North Carolina is closer to legalizing online sports betting, while Florida remains a key market to watch.
October 20, 2023 | 5:57 pm
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POSITIVE IMPACT
Walt Disney Co has entered into a licensing deal with PENN Entertainment Inc for the ESPN Bet platform.
The licensing deal with PENN for the ESPN Bet platform could potentially increase Disney's revenues and strengthen its position in the sports betting market.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
POSITIVE IMPACT
A bettor at DraftKings Inc turned a $28.60 bet into a win of $486,021.92.
The news of the big win could attract more bettors to DraftKings, potentially increasing the company's revenues.
CONFIDENCE 90
IMPORTANCE 60
RELEVANCE 100
POSITIVE IMPACT
PENN Entertainment Inc has landed a licensing deal with Walt Disney Co for the ESPN Bet platform, which is set to launch in November.
The licensing deal with Disney for the ESPN Bet platform is a significant development for PENN. This could potentially increase the company's market share and revenues in the growing sports betting market.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEUTRAL IMPACT
Musician Drake placed an $850,000 wager in Bitcoin on a boxing match, which he lost.
While the news mentions a large bet placed in Bitcoin, it does not provide any significant information that could impact the price of Bitcoin.
CONFIDENCE 90
IMPORTANCE 40
RELEVANCE 50