This announcement triggered a response in the financial realm: Flutter Entertainment, the parent company of FanDuel, witnessed a 4.25% decline in stock value, while DraftKings' stock plummeted by 10.88%, although it made a slight recovery of 1.5% in after-hours trading. Dominating this market are FanDuel and DraftKings, together commanding over 70% of the domestic online sports wagering sector.Īn intriguing development has emerged with the entrance of a fresh contender, as renowned sports network ESPN, under the umbrella of Walt Disney ownership, has teamed up with PENN Entertainment to introduce ESPN Bet-an exclusive sportsbook tailored for enthusiasts. Supreme Court granted individual states the authority to establish their own sports betting regulations, the realm of sports betting has rapidly captivated the nation.
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