The Early Line: Will ESPN Bet's FanCenter Move The Needle?
Gambling news roundup: Quintenz gets support for CFTC role but still in limbo; former VP Pence opposes gambling deduction fix.
The Early Line offers a look at the top stories heading into the week, along with some analysis.
ESPN BET and ESPN Enhance Sportsbook Experience with New FanCenter Feature (press release): “PENN Entertainment, Inc. is elevating the ESPN BET Sportsbook experience with the launch of a major product feature, FanCenter. Coming this summer, the all new FanCenter creates a personalized hub within ESPN BET that will allow customers to easily find wagering markets based on their favorite teams, players, and ESPN fantasy football rosters. This dedicated hub, powered by ESPN and ESPN BET’s account linking technology, will offer fans the ultimate interconnected media, betting, and fantasy experience. Key components of FanCenter include:
A ‘For You’ page of curated player props, game markets, and custom parlay offerings to help fans quickly find bets related to their favorite teams from their ESPN App favorites, ESPN fantasy rosters and wagering history.
The ‘Fantasy Bet Builder’, which highlights markets correlated to users’ ESPN Fantasy rosters, allowing them to back their squad in just a few taps.
Integrated functionality with ESPN BET’s player insights feature, enabling users to quickly browse recent player stats and trends to inform their prop betting selections.
Quick access to view current Mint Club promos and rewards.
In addition to fantasy-related markets within FanCenter, a new ‘Find a Bet’ icon on the ESPN Fantasy app will allow players to view markets related to their roster and add selections directly to their ESPN BET slip. Last year, ESPN Fantasy Football was once again the No. 1 fantasy sports app, and set an all-time mark with more than 13 million people playing the game.”
“FanCenter introduces a completely new level of personalization for ESPN BET players and represents our biggest product leap yet,” said Aaron LaBerge, Chief Technology Officer and Head of Interactive at PENN Entertainment. “It taps into our players' fandom in smart, creative ways while connecting seamlessly with ESPN's industry-leading fantasy football platform. This is what sets ESPN BET apart and football season is the perfect time to roll it out.”
Reading the line: This could be the last chance for Penn to prove it can move the needle with the ESPN Bet brand. Heading into the upcoming NFL season, ESPN Bet is a distant sixth among US operators, which is where it has been for most of its year and a half of existence. If you exclude states that Bet365 doesn’t serve, like New York, ESPN Bet might only be the No. 7 operator in the US. The rubber clearly has to meet the road this fall, or ESPN Bet could be on life support ahead of a potential opt-out point in 2026.
Will all of the above be enough to move the needle? ESPN has been a subpar acquisition funnel for the sportsbook to date, outside of the initial adoption in the first few months in late 2023-early 2024. FanCenter is clearly different, but will it turn on a spigot of 1. getting existing users to bet more or 2. getting new users to sign up, deposit and start betting? Based on performance to date, I’m skeptical, but we should find out in the data in the coming months. Notably, the ESPN fantasy app is top 5 for sports app downloads in the App Store heading into football season. If ESPN can unlock conversion from fantasy, it has something.
There’s also some chance the ESPN-NFL deal could change the calculus for Penn and ESPN. But we probably still need to see some signs of life from ESPN Bet this fall if the brand is going to survive.
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Key economic nominee still in limbo as Senate heads home (Semafor): “Senators confirmed a small tranche of nominees before leaving Washington until September without clinching a broader deal, teeing up a possible GOP rules change that would speed up confirmations. But even that change might not help President Donald Trump’s nominee to chair the Commodity Futures Trading Commission, who remains in limbo. Allies of Brian Quintenz, who would oversee much of the administration’s crypto agenda if confirmed, rallied to insulate the former CFTC commissioner against pushback from the digital assets and gambling industries. Quintenz’s current boss, Marc Andreessen, made calls on his behalf, a person familiar told Semafor. Two other people familiar said acting CFTC Chair Caroline Pham fanned opposition to Quintenz during multiple closed-door conversations in hopes of remaining atop the agency.”
Meanwhile, Rep. Dina Titus (D-Nevada), is asking the CFTC to investigate Quintenz, based on my reporting. Letter here, excerpt below:
“As co-chair of the Congressional Gaming Caucus and the elected representative of Nevada’s First Congressional District, I write to request an inquiry into whether Mr. Brian Quintenz has violated CFTC policies, any applicable federal statute, or his own ethical pledge prior to his Senate confirmation as Chair of the Commodity Futures Trading Commission (CFTC). Specifically, I request that you release all relevant communications from or about Mr. Quintenz related to prediction markets and event contracts. …”
“In his letter to the CFTC describing the steps he will take to avoid conflicts of interest and ethical concerns, Mr. Quintenz wrote, ‘I will not participate personally and substantially in any particular matter that to my knowledge has a direct and predictable effect on the financial interests of [Kalshi]…’ Mr. Quintenz also wrote that he will not participate in any matter involving Kalshi for one year. Despite this pledge, a recent Freedom of Information Act request from The Closing Line indicates that Mr. Quintenz has sought information regarding Kalshi’s competitors and that he may be involved in agency decision-making prior to his Senate confirmation.”
“To the extent necessary, I ask that Christopher Skinner, Inspector General of the CFTC, and Mr. John Einstman, the agency’s Designated Agency Ethics Official, oversee the release of relevant communications and investigate whether Mr. Quintenz has violated any federal law or agency procedures. This should include an evaluation of whether the nominee or any agency employee has engaged in ex parte communications that violate CFTC regulations.”
Reading the line: Quintenz still seems to be in danger of not becoming chair, but handicapping his chances is an hour-to-hour affair. The best case for Kalshi, at least for the short term, is likely the status quo. Quintenz would be good for Kalshi, but would other new commissioners yet to be named? Kalshi knows right now that no one is stopping them, and it’s business as usual.
The longer it takes for Quintenz to advance, the more chances there are to derail his confirmation. As always for the past week or so, stay tuned.
Pence-led group opposes gambling fix (Punchbowl News): “Advancing American Freedom, a conservative think tank helmed by former Vice President Mike Pence, is lobbying Hill offices against a push to make gambling losses 100% tax-deductible. Here’s the memo being circulated to congressional offices. ‘Americans have the freedom to gamble on sports, but why should American taxpayers foot the tax bill for sports gambling?’ the memo argues. ‘Congress should encourage a pro-growth tax code by declining to reinstate full expensing for gambling losses.’”
Reading the line: The memo even takes it a step further, saying that no gambling losses should be deductible, which is a totally untenable policy.
The gambling deduction fix has a lot of momentum. Now it has at least some measure of pushback. How effective this opposition is remains to be seen. But passing legislation is already difficult even when everyone agrees. Now, apparently, not everyone agrees. We’ll see if the effort to fix the deduction keeps up its momentum this fall.
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More gambling news
Kansas welcomes bet365 as state’s seventh online sportsbook (SBC Americas): “Bet365 is continuing to solidify its footprint in America’s gaming market. The online sports betting and casino operator launched operations in Kansas, marking the 14th regulated market it has gained access to in the U.S. Kansas welcomed bet365 as the state’s seventh online sports betting operator.”
VGW shareholders in ‘mixed’ mood over Escalante take-private (Next.io): “The sweepstakes casino market leader saw its minority shareholders approve the proposed buy-out by Escalante’s family office, Lance East Office (LEO), at a VGW shareholder meeting last week. …However one VGW minority shareholder, who spoke to NEXT.io under condition of anonymity, said the mood was ‘mixed’ following the approval. Some shareholders were reportedly happy to exit their positions and be done with the company, although they had been hoping for a better price than the A$5.05 ‘best and final’ offer proposed by LEO’s Ocean BidCo vehicle. Meanwhile others, who opted to convert their holdings to BidCo shares, are said to be nervous about what the future holds.”
Genius Sports secures exclusive official data and betting streaming rights with Lega Serie A through 2029 to power next-generation BetVision product (press release): “Genius Sports Limited (“Genius Sports”) (NYSE:GENI) has agreed an exclusive partnership with Serie A to capture, distribute and commercialise official data and low latency betting video streams from Italy’s top football competitions through the 2028/29 season.”
“This landmark agreement grants Genius Sports exclusive rights to every Serie A, Coppa Italia and Supercoppa Italiana fixture, delivering the fastest, most accurate, secure data and premium video to its global network of sportsbook partners. Genius Sports will also gain access to Lega Serie A data, including tracking, for media exploitation, supporting a range of editorial activities, including broadcast augmentation as well as match reports, news content, and analysis.”
“Genius Sports and Serie A will partner to protect and enhance the value of one of the world’s most prized football data assets, working together on robust anti-infringement measures to ensure sportsbooks enjoy secure, uninterrupted and trusted access to premium content for their customers.”
“Building on Genius Sports’ unrivalled content portfolio, this partnership will supercharge BetVision, the world’s first interactive live betting product. First launched with the NFL across major US sportsbooks, BetVision is transforming the in-play betting experience by enabling bettors to watch live games, interact with stats overlays, customise viewing modes and place bets seamlessly within a single interactive player.”
Caesars Entertainment Debuts IGT’s Kitty Glitter Grand™ Slot Across its Online Casino Platforms and Inside its Atlantic City Resorts (press release): “Caesars Entertainment, Inc. today announced it is the first in the industry to launch IGT’s newest installment of its beloved slot title, Kitty Glitter Grand™. The game is now live across Caesars Palace Online Casino, Horseshoe Online Casino, and Caesars Sportsbook & Casino in New Jersey, Pennsylvania, Michigan, West Virginia, and Ontario. It’s also available at Caesars Rewards® destinations in Atlantic City, including Caesars and Harrah’s, with Tropicana set to join the lineup soon, subject to final regulatory approval. This debut marks IGT’s first simultaneous exclusive launch of a game both online and in casinos in the United States. As a result, Caesars is currently the only place where fans of the Kitty Glitter™ franchise can experience this latest installment, whether in person or online.”
“The popularity of Kitty Glitter Grand speaks for itself across gaming floors at our Caesars Rewards destinations, which is why we couldn’t be happier that our players will be the first to enjoy the newest title in this renowned brand’s history,” said Matthew Sunderland, Senior Vice President and Chief iGaming Officer at Caesars Digital. “We know how impactful exclusive launches can be, so we’re grateful to our partners at IGT for their trust in partnering with us on their first simultaneous online and in-casino launch in the United States. We’re committed to bringing first-to-market, unforgettable experiences to our online casino players that can’t be found anywhere else.”
Army Journal: Prediction Markets Can Help Assess National Security Threats (The Event Horizon): “Prediction markets = intelligence tool?
Yes, according to a new article at the Military Intelligence Professional Bulletin, a quarterly journal published by the US Army. The journal is “designed to keep intelligence professionals informed about current and emerging developments within the field and provides an open forum” for the exchange of ideas.”
The Big Money and High Cost of the US Military’s On-Base Slot Machines (Wired): “…A growing body of evidence indicates that veterans and service members are more likely to struggle with gambling disorders than civilians, says Shane W. Kraus, an associate professor at the University of Nevada, Las Vegas, who studies gambling disorders. Service members also tend to be more hesitant to seek help, out of fear of losing rank, security clearance, or being dishonorably discharged, he adds. Not much has changed since Yeager served—in fact, within the last five years, the slot machine programs the military runs have been making increasing amounts of cash. And, some advocates say, they’re not funneling enough of what they make into education on problem gambling.”
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