Disney’s ESPN will enter sports gambling business
Listen to story (American accent)
In 2019, Walt Disney Company’s sports media business, ESPN, had opportunities to work with sports betting companies.
However, the head of Disney, Bob Iger, said his company wouldn't join the online sports betting business. He believed gambling did not fit Disney’s family-friendly image.
Now, things have changed. Many people have stopped paying for cable TV which means less viewers for ESPN, and online sports gambling has become more popular.
At the beginning of August, ESPN and a gambling company called Penn Entertainment made a deal. They will make a mobile app and website called ESPN Bet for online sports betting. Penn, from Pennsylvania, will pay $1.5 billion over 10 years to use the ESPN name.
As part of the deal, ESPN will promote the product on its shows, website and other media. The hosts of ESPN shows will also work with ESPN Bet.
Before this deal with Penn Entertainment, ESPN only gave information about sports gambling on its shows and online. Gambling was not possible. But now that more places are allowing sports betting, big companies like ESPN want to be part of it.
Bob Iger also says he still might sell the ESPN business to another company.
ESPN's boss, Jimmy Pitaro, thinks Penn is a good partner to make ESPN Bet a popular sports betting business.
This news comes after another company, Fox Corp., said they're closing their sports betting app, Fox Bet, which they started in 2019. The Fox Bet app never became popular.
Vocabulary16 words
- Sports media
- The news and information about sports that is shared through television, radio, newspapers, magazines, websites, and social media
- Opportunity
- chance; occasion; possibility; available moment
- Sports betting
- Guessing what will happen in a sports game and winning money if you're right
- Head
- leader, top person, boss
- Gambling
- The act of taking a risk in the hope of winning money; Playing games with money to try to win more money
- Image
- a picture in your mind or an idea of how someone or something is; Someone’s image is the idea that other people have of that person/company, esp. an idea created by media
- Cable TV
- A way to watch television that uses a special wire to send the signal to your home
- Viewer
- a person who watches an event or show;
- Make a deal
- To agree to do something in exchange for something else
- Mobile app
- A computer program/application that can be used on a mobile phone or tablet
- Billion
- 1,000,000,000 = one-billion
- Promote
- to advertise; to market; to push; to make people aware; to make popular
- Host
- A person or places that organizes and holds an event for other people
- Allow
- permit; let; to give permission; OK
- Be part of something
- To be involved in something; to be included; to participate; to be active in
- Partner
- Someone you work together with
Fill-in-the-blank listening
Play the audio again and fill in the missing words as you listen.
In 2019, Walt Disney Company’s _____ media business, ESPN, had opportunities to work with sports betting companies.
However, the _____ of Disney, Bob Iger, said his company wouldn't join the online sports _____ business. He believed gambling did not _____ Disney’s family-friendly image.
Now, things have changed. Many people _____ stopped paying for cable TV which means less viewers for ESPN, and _____ sports gambling has become more popular.
At the beginning of August, ESPN and a gambling company _____ Penn Entertainment made a deal. They will make a _____ app and website called ESPN Bet for online sports betting. Penn, from Pennsylvania, will pay $1.5 _____ over 10 years to use the ESPN name.
As part of the _____, ESPN will promote the product on its shows, website and other media. The hosts of ESPN _____ will also work with ESPN Bet.
Before this deal _____ Penn Entertainment, ESPN only _____ information about sports gambling on its shows and _____. Gambling was not possible. But now that more places are _____ sports betting, big companies like ESPN want to be _____ of it.
Bob Iger also says he still _____ sell the ESPN business to another company.
ESPN's boss, _____ Pitaro, thinks Penn is a good partner to make ESPN Bet a popular _____ betting business.
This news comes _____ another company, Fox Corp., said they're closing _____ sports betting app, Fox Bet, which they started in 2019. The Fox Bet _____ never became popular.
Discussion questions
- What do you think about sports betting becoming more popular? Is it a good thing or a bad thing? Why?
- Why do you think Bob Iger didn't want Disney to be involved in online sports betting? Do you agree with his reasoning?
- If you were in charge of a sports media company like ESPN, would you make a similar deal with a gambling company? Why or why not?
- Do you bet on sports?
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