PENN Entertainment recently revealed plans to enhance its ESPN BET sports betting app. This comes after a successful initial launch that attracted over 1 million users. The company now turns its attention to boosting features and integrating more closely with ESPN. These upgrades aim to grow market share against top rivals FanDuel and DraftKings. They also prep ESPN BET for its next launch in North Carolina on March 11th.
Quick Success But Room to Grow
PENN unveiled ESPN BET last November across 17 states. The app swiftly amassed over 1 million downloads in its first two months. This exceeded the company’s initial one-year projection. ESPN BET also grabbed an impressive 7% market share in that short period.
However, PENN spent heavily on promotions to drive this early growth. In Q4, marketing costs noticeably impacted profit, contributing to a $358.8 million net loss. But PENN expects promotional spending to ease as existing users get “weaned off those early promos.” With less giveaways, the focus shifts to boosting active wagering.
Opportunity Knocks in North Carolina
North Carolina presents the next expansion opportunity when statewide mobile North Carolina sports betting launches March 11th. ESPN BET enters through a deal with Quail Hollow Club. The launch timing is ideal, coinciding with March Madness.
This is also ESPN BET’s first simultaneous debut alongside rival North Carolina sports betting apps. With equal footing at the start, PENN hopes an enhanced user experience helps ESPN BET stand out. The goal is gaining an edge early before competitors also boost their products.
Improving Features and Integration
With launches winding down, PENN can finally focus on improving functionality. Enhancing same-game parlays sits high on the priority list. ESPN BET also aims to raise market share by integrating deeper with ESPN platforms.
Closer ties with ESPN fantasy sports and media properties offer clear synergies. Features like using ESPN stats and content within the betting app provide advantages competitors can’t replicate. These integrations present a key strategic asset.
Ongoing brand exposure through ESPN’s industry-leading broadcasts offers further upside. ESPN BET has only leveraged a fraction of this potential so far. More creative implementations should bolster sign-ups and wagering activity.
Narrowing the Market Share Gap
Though holding an impressive 7% market share out of the gate, ESPN BET still trails behind FanDuel and DraftKings substantially. But PENN believes impending improvements position ESPN BET to gain significant ground.
The company doesn’t appear focused on maximizing short-term share. Rather, the priority is optimizing ESPN BET’s product experience before football season kicks off. This strategy reflects confidence that a refined, tightly integrated app can reshape the competitive mix over the coming years.
Special Offers for North Carolina
Like other operators, ESPN BET will likely roll out North Carolina sportsbook promos around launch. Though promotional details remain unannounced, bettors can expect vigorous competition for new customers.
Rival apps including DraftKings, FanDuel and BetMGM will also target North Carolinians with North Carolina sports betting bonuses. Special offers may include risk-free bets up to $1,000 or more.
BetMGM for one is already confirmed to deliver a $1,000 risk-free bet via its North Carolina bonus code. Other operators seem likely to match or exceed this threshold as legal wagering opens up in this promising new market.
It remains to be seen exactly how ESPN BET will position itself among the wave of enticing launch promotions. But some special ESPN BET North Carolina offer seems inevitable as sportsbooks battle for share across the state.
Stay tuned to monitor ESPN BET’s evolving product experience and keep your eye out for the inevitable slew of North Carolina sportsbook promos hitting the state next month.
✅ Updated on February 24, 2024 by Frank Sutton
Frank Sutton is a sports journalist with over 15 years of experience in the industry. He has specialized in sports betting for over a decade, establishing himself as an expert in this area. With his extensive knowledge and experience, Frank provides insightful analysis and commentary on sports betting operator reviews, odds and outcomes.
