Bettors are Easier to Find When You Know Who You Are

Penn Gaming recently signed a deal with ESPN, booting the previously partnered Barstool Sports. Leaving aside the megabucks involved, it's appeared to have paid some dividends. 

Today, they announced ESPN Bet drove about 1 million first time sign ups in Q4, which is more than they budgeted for the entire year. If, and I don't know this, they generate $400 of lifetime customer value from each on average, it would be a $400 million dollar jump for one quarter, which seems not bad. 

Penn saw some value in the ESPN brand, and pounced on it. And I think it made at least some sense. ESPN and betting is closely linked. Probably more so than Barstool or others. 

Meanwhile back at the ranch, we continue to talk about the big branding story in horse racing: Alix with an i and Gulfstream. The tik tokker (I can't believe I typed that at my age) who reddit says charges $250,000 for a post, went to the track, and we haven't heard much about increased ADW signups or track visits, but I'm guessing we're not because they haven't happened. 

Honestly, how could they, with branding that shows Alix with an i losing all her money betting horses?

couldn't have come up with this level of marketing if I tried pic.twitter.com/PFE5sCR9g2

— Mayhemily (@EmilyOptixEQ) January 29, 2024

Horse racing is constantly confused as to what they are. 

Is the sport a day to look at the pretty horses and colorful jockeys or is this a gambling game that makes money that way? 

Some people say both stories should be told, but without unlimited money, and a sport that seems to focus worse than a dude after a three week meth bender, at some point you have to pick one. 

Penn Gaming picked one, and it seems to have started out well. 

For those waiting for horse racing content like a Youtube show where a horse bettor teaches Daniel Negeanu how to wager a mathematically perfect pick five, I think you'll be sifting through a whole lot of Alix Earles before then.

Have a nice weekend everyone.