ESPN Bet live: Know everything

ESPN has launched a new betting app, ESPN BET, in partnership with PENN Gaming, available in 17 states with special offers.

Welcome to FTW Explains, a guide to catching up on and better understanding stuff going on in the world. Are you wondering what's up with ESPN's new betting app? If so, we're here to help.

After many years of staying relatively on the sidelines of sports betting, ESPN has finally come into the deep end of the pool, launching the ESPN BET app on Tuesday afternoon. The app comes via a deal with PENN Gaming, which will run all of the software and technology, and actually take the bets.

Here's what you need to know about the launch of the ESPN BET app:

What is ESPN BET? Is ESPN running a sportsbook now?

Not in the traditional sense, no. ESPN BET is a branded online sportsbook operated by PENN Entertainment. In essence, all of the places that said "Barstool Sportsbook" before on PENN's app, will now say "ESPN BET." ESPN is not taking any wagers, it's simply getting money from its brand as part of a $1.5 billion, 10-year deal with Penn.

The ESPN App where you're used to reading ESPN.com stories and getting scores will remain a separate app from the ESPN BET app.

How many states in ESPN BET available in?

ESPN BET is available in 17 states currently and bets can only bet while users are physically within the state lines of state where ESPN BET can legally offer sports betting.

Those states are: Arizona, Colorado, Illinois, Indiana, Iowa, Kansas, Kentucky, Louisiana, Maryland, Massachusetts, Michigan, New Jersey, Ohio, Pennsylvania, Tennessee, Virginia and West Virginia.

When did ESPN BET launch?

The ESPN BET website (ESPNBET.com) and app launched on Tuesday afternoon, Nov. 14. The app is now available for download for Android and iOS devices.

What special offers will there be on ESPN BET?

It's unclear as of right now, but there will likely be special promotions and giveaways via ESPN talent. Currently, there is an offer for new users of $200 in Bonus Bets (available in four $50 Bonus Bets) once a user makes a sportsbook bet. There is also a 100% deposit match bonus for new users on up to a $1,000 deposit, and special promotional wagers from Elle Duncan and Mike Greenberg.

What happened to Daily Wager?

Daily Wager, ESPN's one-hour sports betting program is still around five days a week, it has simply been rebranded to "ESPN BET Live."