Penn Entertainment reported a widening of its online EBITDA losses to $90.9 million for the third quarter of 2024, an increase compared to the previous year. However, the company's performance improved relative to forecasts, with adjusted EBITDA losses $34 million better than expected. The report highlighted a significant shift in betting behavior, as the percentage of promotional bets decreased to 2.8% of the total handle, down from 4.5% in the previous quarters and 15.5% in the fourth quarter of 2022. In contrast, the share of parlays increased to 28.3% of the handle, up from 22.5% in the same quarter last year, contributing to a hold of 9.4%, compared to 5.3% previously. Additionally, ESPN Bet generated $244.6 million in revenue, reflecting a nearly 25% increase year-over-year, while Penn reported 3.9 million digital users as part of its strategy to expand ESPN Bet's user base. The company noted that players are placing significantly more bets following the rollout of account linking features.