ESPN announced an exclusive multi-year deal with online sports betting company DraftKings Inc. on Thursday to become the network's sole official sportsbook and odds provider.

DraftKings will be integrated into ESPN's platforms starting in December.

ESPN and casino operator Penn Entertainment also announced that they are ending their 10-year, $2 billion ESPN Bet partnership.

"Our betting approach has focused on offering an integrated experience within our products," ESPN chairman Jimmy Pitaro said in a statement. "Working with DraftKings, a leader in the space, will allow us to build upon that foundation, continue to super-serve passionate sports fans and grow our ESPN direct-to-consumer business. We are excited about this new collaboration with DraftKings."

Financial terms of the agree

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