MLB Players Sign New Licensing Agreement with PENN Entertainment

PENN Entertainment has been confirmed as the new licensing partner for MLB Players Inc., as part of a deal reached by the latter and OneTeam Partners with the sportsbook operator.

PENN Secures Licensing Rights from MLBPI

Moving forward, PENN Entertainment’s sports betting platforms will be allowed to use the images and names of MLB players for the purposes of advertising and reaching out and engaging with a wider audience.

PENN presently operates several prominent brands, including the ESPN Bet in the United States and theScore BET in Canada, both of which will now be branded “Officially Licensed Sportsbooks of MLBPI.”

PENN will leverage the assets across both its online sports betting operations and land-based properties and sportsbooks, seeking to grow engagement for its betting brands, specifically with baseball fans and bettors.

PENN is hoping to leverage the surging popularity of baseball betting to its advantage, drawing more baseball fans and engaging them with its platforms. The company needs to increase its market share after it acknowledged that ESPN Bet has not been doing as well as expected, accounting for a friction of the sports betting market and below initial expectations.

In the meantime, the MLBPI has been both protecting its rights as well as expanding its reach. The company went after FanDuel and Underdog Fantasy in New York, accusing them of misappropriating its intellectual property. Eventually, the MLBPA settled with FanDuel.

For its part, PENN Interactive VP of operations Jason Birney has been upbeat about this new partnership and the opportunity it provides the operator and its prominent sportsbook brands.

New Partnership to Create Opportunities for Dynamic Betting Markets

“Partnering with MLB Players Inc. strengthens our connection to the league and its star players and creates additional opportunities to engage fans throughout the season,” Birney explained.

Thanks to this tie-up, fans can expect an enhanced betting experience that will include player likeness as well as new wagering options and a dynamic final product that can be enjoyed by all.

Baseball betting has indeed been soaring, with the New York Yankees’ new “torpedo bats” driving a frenzy of prop bets.

The so-called torpedo bats have been designed by a former MIT physicist, with the bats helping the team score a record number of home runs in their opening games, driving a sports betting bonanza in its wake.