ESPN is launching a new online sports betting platform, ESPN BET in partnership with PENN Entertainment. The branded sportsbook will debut in the Fall of 2023.

ESPN BET will be available in 16 states, where betting is legal and PENN Entertainment is licensed – of which Illinois is among those states. As ever, we’ve got you covered with all the current information on ESPN BET.

Read on for everything you need to know about the mega-deal between the Disney-owned sports broadcaster and US gambling powerhouse PENN Entertainment, what ESPN’s foray into the world of sports betting means, and when we can expect the branded sportsbook to go live in the Illinois sports betting market.

ESPN BET Illinois At A Glance

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What To Know About ESPN BET Illinois

The media and gambling industry were rocked by ESPN and PENN Entertainment's announcement of the $2 billion agreement between them to launch ESPN BET. 

Not least because it’s a game changer, but that the partnership was made possible by PENN Entertainment’s historic pivot, selling its current sports-betting arm, Barstool Sportsbook, back to its founder Dave Portnoy – for just peanuts and only a few months after acquiring a majority stake in the company. 

In the press release, ESPN announced the agreement with PENN Entertainment to launch ESPN BET, “a branded sportsbook for fans in the United States.” 

The statement went on to say that “PENN Entertainment will rebrand its current sportsbook and relaunch as ESPN BET, effective this Fall in the 16 legalized betting states where PENN Entertainment is licensed. The rebrand includes the mobile app, website, and mobile website.”

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PENN Entertainment will pay ESPN $1.5 billion in cash over 10 years, plus $500 million in stock warrants to purchase approximately 31.8 million shares of PENN.  

In return, PENN gains an ideal partner to expand with into new states as it competes for a sizeable market share against rival sportsbooks DraftKings, FanDuel, Caesars and BetMGM (to name a few of the most trusted sportsbooks). 

Previously, ESPN has shown an interest in the gambling world through a variety of betting-centric programs across its platforms. As well, it had cut promotion deals with DraftKings and Caesars, respectively, to showcase their sports odds on the ESPN website and TV programs.

However, the deal with PENN Entertainment to launch a branded sportsbook is on another level, marking the sports broadcasters first official foray into the world of sports betting.

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ESPN BET Illinois Promo Code For New Users

ESPN BET is still in the fledgling stages of its development, so any speculation about the ESPN BET Illinois promo code offer is going to be just that – pure speculation. 

That said, given the fact that ESPN prides itself on being a Worldwide leader in sports and PENN Entertainment has grand ambitions to become a major player in the market, it’s safe to assume that the welcome offer will be a big deal. 

In fact, PENN’s current offer with Barstool is a cool $1,000 in bonus cash plus $10 just to sign up. Bookmark this page to stay abreast of ESPN BET’s progress and news of ESPN BET Illinois' new user promo code offers.

More ESPN BET Illinois Promotions

When you sign up with the ESPN BET Illinois promo code you'll get much more than just a great welcome offer. The most trusted sports betting sites regularly offer promotions on a variety of sports and events. These include odds boosts, insurance bets, early cash outs, and same-game parlays on major American sports such as the NFL, NBA, NHL, College Football, and MLB.  

As well, the refer-a-friend bonus is a year-round promotion that rewards players who recommend a sportsbook to their friends.

Is ESPN BET Illinois Legit?

Yes, when ESPN BET Illinois makes its debut, it means it will have taken over PENN Entertainment’s sports betting license to operate in The Prairie State. What’s more, bettors are being promised an unmatched user experience thanks to ESPN’s multimedia sports coverage and PENN’s experience in sports betting.

Top Features Of ESPN BET Illinois

To give an accurate account of ESPN BET’s top features, we will have to wait until the website launches. For now, PENN’s current sports-betting arm – Barstool Sportsbook – acts as a potential blueprint for ESPN BET. 

However, bettors should expect major improvements with more bells and whistles that are befitting of a Worldwide leader in sports such as ESPN. This could mean sports streaming, live betting and handy sports stats on tap, among other things.

Below, we’ve listed some of the major and niche sports that are likely to feature at ESPN BET:

• NFL
• NBA
• College Football
• College basketball
• NHL
• MLB
• Soccer (MLS, International Leagues)
• Tennis
• Golf
• UFC/MMA
• Aussie Rules
• Auto-racing
• Boxing
•  Cricket
• Curling 
• Cycling 
• Darts  
• Handball   
• Lacrosse 
• Rugby League    
• Rugby Union 
• Table Tennis

How To Sign Up At ESPN BET Illinois

Once ESPN BET Illinois launches, we can review the sign up process in greater detail. For the time being, we’ve outlined some of the most common details new users will have to provide in order to set up their sports betting accounts. These are (in no particular order) as follows:

•  Name

•  Date of Birth

•  Last four digits of your SSN

•  Home Address

•  State

•  Username

•   Email

•   Password

•   Enter ESPN BET IL Promo code

•    Confirm your eligibility (21 years old in Illinois)

Banking At ESPN BET Illinois

Legal sportsbooks that are licensed to operate within a state provide bettors with safe and secure transactions through a variety of banking methods. 

The most popular banking methods include: 

•  Credit/Debit Cards

•  Wire Transfer

•  Online Banking

•  PayNearMe

•  PayPal

•  ACH / eCheck

•  Casino cage (where a retail casino is available)

When Will ESPN BET Launch In Illinois?

While it’s not clear whether ESPN BET will launch in all 16 states at the same time or if a staggered approach will be taken, the target date according to PENN CEO Jay Snowden is November 2023, around the Thanksgiving holidays. 

That means the earliest Illinois bettors can realistically hope to get in on the action with ESPN BET is Week 12 of the NFL, which will see the Chicago Bears close out the week’s NFL betting slate with a Monday Night Football clash against the Minnesota Vikings.

Where Will ESPN BET Launch In 2023?

PENN Entertainment holds sports betting licenses in 16 states as highlighted below, with a view to ramping up its reach into other states now that it is in partnership with sports media giant ESPN. 

ESPN Bet is expected to take over PENN’s existing products by the middle of the NFL season, though no official date has been announced. 

What Happened To Barstool Sportsbook Illinois?

PENN Entertainment purchased 36% of Barstool Sports in 2020, giving way to the birth of Barstool Sportsbook with the gaming company holding the sports betting license. 

Three years later, PENN paid a whopping $550 million to take 100% control of Barstool in February 2023 – merely a few months before it performed a stunning U-turn and sold Barstool back to its founder.

PENN’s fire sale of Barstool – for a $1, some restrictive covenants, and a non-compete clause – was confirmed by Portnoy, who admitted he’d underestimated how tough it would be to operate in the heavily regulated US gambling market. 

PENN Entertainment CEO Jay Snowden echoed as much. “We’ve had a great three-and-a-half-year run with our partners at Barstool…. It just became obvious to both parties that there’s probably long-term only one natural owner of Barstool Sports, and that’s Dave Portnoy.”

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