With sports betting now legal in 38 states (plus Washington, D.C., and Puerto Rico), the sports broadcasting giant ESPN has leaned into gambling in a bid to boost its revenue amid falling cable viewership. The company even inked a 10-year deal with Penn Entertainment last year to create a licensed online sportsbook called ESPN Bet ahead of the release of its flagship streaming service in 2025. But over the weekend, an ESPN segment that dishes out betting advice for fans drew in critics.
On ESPN’s March Madness show College GameDay this weekend, Erin Dolan broke down some of her top betting ideas for sports fans, including a pick for #9 Northwestern to score under 60.5 points in their match with #1 UConn. The show’s host, Rece Davis, responded with usual enthusiasm. “You know what? Some would call this wagering, gambling; the way you’ve sold this, I think what it is, is a risk-free investment,” he said.
Even Dolan seemed surprised, replying, “Okay! A positive way.” Many viewers were shocked, taking to social media immediately after the segment aired to criticize Davis’ “risk-free investment” comments.
Fox Sports Radio betting analyst Jared Smith argued, “this is way more damaging to the sports betting industry than anything going on with Shohei Ohtani,” referencing the Dodgers pitcher and allegations that he covered his former interpreter’s multi-million-dollar gambling debt.
“I just know ESPN attorneys are losing their minds hearing Rece Davis call the under in UConn-Northwestern a ‘risk-free investment,’” wrote John Nucci, a lawyer at Woods Oviatt Gilman who specializes in sports.
Davis took to Twitter to respond to the criticism, claiming that the comment was just a joke, while noting that the bet he was referencing turned out to be a winner. “During a segment this morning on @CollegeGameDay, due to @ESPNBet picks hitting yesterday, I joked the advice was more like ‘risk free investing.’ As we all know, such a thing does not exist. Obviously, there are risks,” he wrote.
“Though I’m not a gambler, I strongly encourage those who do partake, do so with prudence, care, caution, fiscal and personal responsibility and never over-extend. Sports are unpredictable. Wagering is tricky. So let’s agree to manage monetary risks appropriately. I’m sure most recognized my comment was tongue-in-cheek. Just to clarify,” he added.
Despite the response from Davis, critics didn’t seem impressed. “Call me old school, but I preferred it when the world’s largest sports media company wasn’t referring to sports gambling as a “risk-free investment,” Joe Pompliano, host of The Joe Pomp Show and the purveyor of a widely read sports newsletter, wrote.
ESPN did not immediately respond to Fortune‘s request for comment on Davis’ statement.
