Since the United States Supreme Court struck down Professional and Amateur Sports Protection Act legislation in 2018, sportsbooks have been scrambling to figure out how to scale operations and win over mainstream bettors.

One of the best ways to accomplish this is through partnerships with media companies and personalities, or outright mergers and acquisitions.

Last week, Penn Entertainment exercised its right to buy the remaining shares of Barstool Sports that it didn’t already own for $325 million. It’s only the latest splashy pairing in recent years.

In 2021, Sports Illustrated partnered with 888 Holdings to launch a sportsbook in Colorado. FanDuel owner Flutter Entertainment inked a multiyear deal with former athlete and media personality Pat McAfee.