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Illustration: Aïda Amer/Axios

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

Go deeper

Kendall Baker, author of Sports
1 hour ago - Sports

European soccer is at war

Liverpool celebrating its 2019 Champions League victory. Photo: Nigel Roddis/Getty Images

Europe's biggest soccer clubs have established The Super League, a new midweek tournament that would compete with — and threaten the very existence of — the Champions League.

Why it matters: This new league, set to start in 2023, "would bring about the most significant restructuring of elite European soccer since the 1950s, and could herald the largest transfer of wealth to a small set of teams in modern sports history," writes NYT's Tariq Panja.

Dion Rabouin, author of Markets
1 hour ago - Economy & Business

2021's expected earnings blowout begins

JPMorgan CEO Jamie Dimon. Photo: Mark Kauzlarich/Bloomberg via Getty Images

First-quarter earnings so far have been very strong, outpacing even the rosy expectations from Wall Street and that's a trend that's expected to continue for all of 2021. S&P 500 companies are on pace for one of the best quarters of positive earnings surprises on record, according to FactSet.

Why it matters: The results show that not only has the earnings recession ended for U.S. companies, but firms are performing better than expected and the economy may be justifying all the hype.

2 hours ago - Science

NASA's Mars helicopter takes flight as first aircraft piloted on another planet

Ingenuity on the surface of Mars, filmed by NASA's Perseverance rover. Photo: NASA Jet Propulsion Laboratory

NASA successfully piloted the Ingenuity Mars helicopter for its first experimental flight on Monday, briefly hovering the aircraft as NASA's Perseverance rover collected data.

Why it matters: Ingenuity's short flight marks the first time a human-built aircraft has flown on a world other than Earth, opening the door to new means of exploring planets far from our own.