National

Media Trends

Axios Media Trends

Almost all major media companies are teaming up with sportsbooks to juice their content offerings.

Why it matters: The partnerships allow media organizations to increase engagement while sportsbooks can acquire more customers.

CBS Sports said Monday that William Hill, a UK-based sportsbook operator, will be the official sportsbook and provider of wager information for the network. Financial terms were not disclosed.

Barstool Sports sold a 36% stake to gambling operator Penn National for $163 million last week. The investment valued Barstool at $450 million, a price that reflects Barstool's brand and hyper-loyal audience of young sports fans.

ESPN said last year it's partnering with Caesars Entertainment to produce sports-betting content.

Turner Sports and Bleacher Report announced a similar deal in February, building a branded Bleacher Report studio inside the Caesars Palace Sports Book in Las Vegas.

Yes, but: So far, Fox Corp. is the only major U.S. sports broadcaster to be starting its own sports wagering platform.

The bottom line: In an interview with Axios, William Hill U.S. CEO Joe Asher told Axios that the purpose of its CBS News partnership was to help lower the sportsbook's customer acquisition cost.

Go deeper: Media companies' newest wager: betting content

Media companies eye sportsbook partnerships to juice engagement

They help sportsbooks acquire more customers.

Illustration of a remote with a money button

Media

Sports betting

Get insights on the trends that are reshaping the digital media ecosystem

Sign up for the Axios Media Trends newsletter

Sports

Almost all major media companies are teaming up with sportsbooks to juice their content offerings.Why it matters: The partnerships allow media organizations to increase engagement while sportsbooks can acquire more customers.

After a record economic expansion, the coronavirus pandemic sent the U.S. economy into a recession as unemployment soared to staggering heights. The country now faces urgent questions about how much stimulus is needed for reeling consumers and businesses, and what a recovery might look like.

Economy & Business

Shifts in technology and media are changing the way we play, watch and understand sports. Business models are adapting and social change is forcing those in charge of teams and leagues to reconsider decades-old practices.