With the recent launch of Barstool Sportsbook in Pennsylvania, there are now 10 online sportsbooks available in that state that have been approved by the Pennsylvania Gaming Control Board.
That’s a big win for gamers in the area. More options mean more competition and it’s the consumers who win big here. A new online sportsbook player in town means that the old guard has to shore up their customer base as a shiny new competitor starts offering signup bonuses.
Let’s take a deeper look at this mega partnership and see what it means.
Barstool Sports & Penn National
Founded in 2003 by David Portnoy, Barstool Sports is a digital sports, entertainment, and media platform that produces blogs, podcasts, radio, video and social media content with the help of dozens of dedicated personalities.
Barstool’s recent 36% acquisition by Penn National Gaming, spells success for both brands any way you slice it. Penn National is a large American operator of casinos and racetracks, based in Wyomissing, Pennsylvania that operates 43 facilities in the United States and Canada, many of them under the Hollywood Casino brand.
In late January 2020, Penn National acquired a 36% stake in Barstool Sports for $163 million in cash and stock, valuing Barstool at $450 million. The agreement gives Penn National the sole rights to use Barstool Sports brand for its online sports betting and online casino products.
The App Itself
Barstool Sportsbook comes with the standard wagering options and in-game wagering, cross-sport parlays, moneylines, futures, teasers, round robins, and numerous prop bets. Deposit and withdraw methods are similar to other PA sportsbook apps.
What sets this app apart from the competition? Barstool’s exclusive features and functionality make it a unique option in sports betting:
- Personality Picks and Parlays: Daily opportunities to follow or fade the Barstool team’s picks and parlays picks and parlays.
- Quick Pick 6: A system-generated, random 6-leg parlay where bettors can control the legs and the wager.
- Daily Odds Boosts
There’s a nice sign up bonus coming your way if you decide to give the new app a try. For simply signing up you get $10. That’s probably the easiest $10 you’ll ever make, but the best signup bonus is the no-risk first bet.
For your first bet, and first bet only (up to $500) there is zero risk. If you win, congrats, you won some cash. If you lose, you’ll get the full amount of your bet back. There’s literally no downside.
Keep in mind when signing up that US regulations will not allow the use of no deposit bonuses such as those offered by offshore operators and available through the Nodepositdaily catalog.
The Controversy
Dave Portnoy, or El Presidente as he fancies himself, has been at the center of many sports and labor scandals. At a time when sportsbook competitors are looking towards Pennsylvania, Barstool can’t afford this type of negative press.
Barstool is launching its sports betting operation at a time of growing competition in the legal gambling marketplace, going head-to-head with rivals like FanDuel, DraftKings and BetMGM, a subsidiary of MGM Resorts.
Lately however, the image of the Barstool brand has been shifting. The company brand has been shifting from the bad boys of the sports world to a solid source of information on all things sports. This brings it’s partnership with Penn National in an entirely new light.
The Industry Game-Changer
The recent partnership between Barstool Sports and Penn National spells out big things for the future of online sports betting. Dave Portnoy called PA the “first step in plan for world domination” and he might not be joking.
Penn National is poised to grow the Barstool’s brand immensely with the addition of it’s new sportsbook. What better way to drum-up hype for sporting events with the 1-2 combo of sports news and betting?
The app offered by the Barstool Sportsbook is pretty darn impressive as well. It launched slightly later than intended but it functions beautifully. The user experience is great and it’s fast. Every function you would want is there along with a host of betting options like the in-game betting feature where you can still bet on certain aspects of a game after it’s started.
A Growing Brand
The historic partnership has brought two massive brands together: Barstool Sports and Penn National Gaming. The agreement between the two organizations has left room open for incredible growth in the future and a product that will give current competitors a run for their money.
With all of this going for it, Barstool Sports is definitely a company to watch. The big guns in the industry like Draft Kings have a head start but if they don’t stay vigilant, the young bucks like Barstool Sports are going to quickly close the gap.
