Bob Chapek, CEO of Walt Disney, confirmed a big chance for the company to enter sports betting. Well, as they analyze this move, it looks ironic for the company that establishes its name by offering fairy-tale-themed movies. Linking gambling into its company name might probably take customers far from the brand.
However, Disney’s company is seeing any significant advantages of making the move into the industry.
Disney’s Reason Behind Moving into Sports Betting
In an average, Americans generally wagered an amount that estimatedly cost $3 billion. This is for sports betting alone sometime in October 2020.
Due to almost 53% of revenue coming from sports betting yearly, the company is really enticed to get into it. Aside from that, here are the other reasons why Disney is moving into the gambling world.
- The gambling industry might have an advantage in the alteration of the regulatory status. This is because of the permission of legalizing sports betting during the year 2018.
- Basically, the company is also the owner of the most famous sports network ESPN. Well, there is already an established relationship between this network and the leading sportsbooks which would be profitable for Disney company.
- It generally revolves around the consumers. Disney’s consumers fall under the younger ones which will actually create sports fans as time roles on.