ESPN Bet Launches in 17 U.S. States

ESPN Bet, a sports-gambling service rebranded with the name of the Disney-owned sports channel, launched Tuesday in 17 U.S. states.
Penn Entertainment, which owns the service, signed a $1.5 billion deal with ESPN for rights to the sports media giant’s name in August.
ESPN Bet is a rebranding of an existing sports-betting app, Barstool Sportsbook.
Penn’s rights to the ESPN brand will initially run for a decade with the option of extension for another 10 years.
The launch of ESPN Bet could take Walt Disney Co. into uncharted waters, as Disney is fiercely protective of its family-friendly image, not typically associated with the world of sports gambling.