Disney was smart to back off of the equity deal with draftkings. Even before the recent controversy, these sites were gathering criticisms of gambling. Congress made a poor choice a few years ago by leaving this loophole for this enterprises.
ESPN will still gather a fair amount of advertising money, as I believe the recent announcements of a pullback by both ESPN and draftkings will only be a minor bump. But, in the long term, I bet this types of companies will find themselves under greater scrutiny and restrictions.
And, as far as some saying that this isn't gambling, or not a game of skill, or a game of skill, don't tell me that this isn't gambling. It is. And they are spending a lot of money on advertising for a reason.
I'm not telling you that I've never gone to a casino (although I haven't been for nearly 20 years), or I've never gone to the race track (I go about once a year with a college friend), but this is a very dangerous product if not managed very very carefully. And when I say carefully, that will limit the amount of money that can be bet (and make not bones about it, it is being bet), and that will limit profits, which will limit the amount of advertising that can be spent.
Disney should try to make as much money as it can, without it getting its hands dirty.