ESPN Bet unlikely to challenge duopoly market in US sports betting

Penn Entertainment revealed last month that it will pay $1.5 billion over ten years to license the ESPN Bet brand, which temporarily shook the sports wagering scene. That was after parting ways with Barstool Sports for $1. While the acquisition is seen as a watershed event for Penn and ESPN, several experts question the new sportsbook brand's capacity to launch a genuine challenge to FanDuel and DraftKings' enormous market share.