“We’re Just Getting Started”: Jimmy Pitaro Outlines Vision for ESPN Bet’s Future

05.07.2024

ESPN Bet, in collaboration with Penn Entertainment, is navigating the early stages of its entry into the sports betting market. Despite facing initial revenue challenges, ESPN’s CEO, Jimmy Pitaro, remains optimistic about the future and detailed plans to strengthen the venture’s position.

Confidence in Growth and Development

Pitaro expressed a firm belief in the potential of ESPN Bet, especially with upcoming enhancements slated for the platform. He emphasized that the product is still in its early stages, metaphorically stating, “To say we’re in the first inning of ESPN Bet would be a significant understatement.”

Looking forward to the football season, Pitaro announced that “significant product enhancements” are planned for release in the summer and fall. These improvements could help correct the course after the missed revenue targets in the recent quarters.

The appointment of Aaron LaBerge as the new CTO of ESPN Bet marks another strategic move to infuse the platform with robust technological leadership.

LaBerge’s long tenure with Disney/ESPN as a tech executive is expected to bring valuable experience and insight into the technological evolution of ESPN Bet, aligning with Pitaro’s vision for the platform.

Building a User Base

Pitaro also highlighted the success in attracting new users to the platform, particularly following Penn’s shift away from its previous association with Barstool to ESPN Bet.

He pointed out that this rebranding and strategic shift have been effective in drawing a “significant number” of new users, laying a stronger foundation for future growth.

Acknowledging the dominance of DraftKings and FanDuel in the market, Pitaro recognized the challenges ahead but remains undeterred.

He compared the endeavor to his previous competitive experiences, stating, “Just like every day I used to wake up and try to beat my competitor, every day we wake up and we have a target, which is the next in line in terms of market share.”