The app, ESPN Bet, made early strides in the first few months, gaining ground through promotions and marketing that leveraged ESPN's popular personalities.
Even Fanatics, the industry's other major recent disrupter, hasn't made much of a dent in DraftKings' and FanDuel's dominance.
As of March, ESPN Bet had captured about 4% of the online-sports-betting market by gross gaming revenue, per Bank of America's analysis, though its share has been higher in states like Pennsylvania.
How ESPN Bet can make a comebackPenn could still be successful if it improves its product and spends less money on acquiring new customers, the analysts said.
Jonas said if Boyd acquires Penn, it would be a sizable shift in strategy for their management, team, and board.
Persons:
—, FanDuel, Dan Wasiolek, Will Wyatt, Penn's, Jay Snowden's, Boyd, Penn, ESPN Bet's, hasn't, it's, Barry Jonas, Scott Van Pelt, Stephen A . Smith, ESPN Bet, Penn doesn't, Jonas, EKG, Snowden, Wasiolek, they'll
Organizations:
Service, ESPN, Penn Entertainment, Business, ESPN Bet, Morningstar, Donerail Group, Barstool Sports, Penn, Reuters, Boyd Gaming, Truist Securities, Barstool, ESPN Bet's, NFL, Management
Locations:
Barstool, Penn, Pennsylvania, Eilers