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What is Barstool Sports?

Barstool Sports is a digital sports, entertainment and media platform that delivers original content across blogs, podcasts, radio, video and social media. Barstool Sports was founded by David Portnoy back in 2003. First starting as a print publication, it wasn’t until 2007 that Barstool Sports made its way to the internet. Barstool Sports’ initial offerings included gambling and fantasy sports content that was distributed throughout the Boston metro area. Barstool Sports is now headquartered in New York City.

In 2016, Portnoy announced that a majority stake of Barstool Sports was purchased by The Chernin Group. This purchase is what moved Barstool Sports to New York City. Despite the purchase and no longer being the majority owner, Portnoy continued to oversee Barstool Sports and its content. Portnoy operated under the title of Chief of Content while former chief marketing officer of AOL, Erika Nardini, was announced as the CEO of Barstool Sports back in July of 2016.

On January 29th, 2020, Penn National Gaming purchased a 36% stake in Barstool sports for $163 million. This gave the total value of Barstool Sports an estimated $450 million. The purchase of Barstool Sports by Penn National Gaming is a beginning step in the process of creating a BarStool Sportsbook.

Barstool Sportsbook Promo CodeBarstool Promo Details
Risk Free Bet$500 risk-free bet
No Deposit BonusA no deposit bonus of $10 for new users.
Risk Free Promo Requirements1. You must register a new user account Barstool Sportsbook
2. Deposit of $10 or more.
3. Meet the playthrough requirements
Promo EligibilityYou will need to be a new user and meet the age and location requirements.
Expiration DateExpiration date is 30 days from time of bonus.
Withdrawing RequirementsMost sportsbooks have a play through requirement on the bonus money and we expect the same at Barstool Sportsbook
Land-Based PartnersPenn National Gaming

Barstool & Penn National Gaming

The 36% stake in Barstool Sports by Penn National Gaming is a big step for both companies. For Penn National Gaming, it gives them access to one of the biggest names in sports and pop culture content. For Barstool Sports, it gives the company the opportunity to open a sportsbook under its name. As part of the agreement, Penn National will be Barstool Sports’ exclusive gaming partner for a period of up to 40 years. Penn National also has the right to use the Barstool Sports brand for all of its online and retail betting and iCasino products. After three years, Penn National will increase its ownership to approximately 50% with an incremental investment of approximately $62 million.

For Barstool Sports, the sky is now the limit. This partnership with Penn National gives Barstool Sports an opportunity to get a sportsbook with their brand name out there. Not only that, but it will give Barstool Sports access to a number of states with legal sports betting that Penn National is already established in. Some of those states include Pennsylvania, Indiana, and New Jersey among others.

Barstool Market Share

According to PngGaming.com, Barstool sports benefits from approximately 66 million monthly unique visitors, including an estimated 48% of males and 44% of females in the Millennial and Generation X generations across the United States. Last year alone, Barstool Sports grew by nearly 65% with nearly $100 million in revenue from advertising, eCommerce, events, licensing, and subscription.

In 17 years, Portnoy took Barstool Sports from a local Boston print publication that focused on fantasy sports and minor gambling content to being worth $450 million and covering a variety of different sports and pop culture topics. Now, Barstool Sports will be taking the next big step as they work on the launch of their sportsbook which is expected to be out sometime in 2020.

Barstool Sport’s biggest asset in competing with sportsbook giants like FanDuel and DraftKings will be its dedicated fan base. Known as “Stoolies”, these dedicated fans hold the key to Barstool Sportsbooks’ success. In states where Barstool Sportsbook will operate, attracting fans of their website and other content to their sportsbook could help get them the customer base to compete with the big names in sports betting. Perhaps they may even be able to attract a number of bettors away from FanDuel or DraftKings that already happen to be fans of Barstool Sports.

Barstool Betting Tools & Apps

Barstool Bets is Barstool Sports’ page for sports betting content and free-to-play contests. They have both a website and an app available that provides sports betting news, blogs, videos, and more in addition to their contests. Players located in 48 states are eligible to participate in these free-to-play contests (Nevada and Washington excluded).

The Barstool Bets app operates just like its website. Those wishing to compete in these free-to-play contests simply just need to sign-up and they are eligible to enter. The way these contests work is very simple. You are given a number of points to bet (typically 1,000) and are free to bet those 1,000 points as you please. You can bet on any spread, total or moneyline odds with a few extra betting options added (such as margin of victory). The players with the most points at the end of the designated game can win money. Currently, the majority of the contests have over a $1,500 prize pool with winners claiming $1,000.

For those who aren’t interested in entering these contests, Barstool Bets features content related to sports betting. You can find blog posts, videos, and podcasts directly from the app or website. There is also a Barstool Bets store for those looking to purchase merchandise.

Barstool Sportsbook Promo Code

Barstool Sportsbook promo code provides a $10 no deposit bonus plus a $500 risk-free bet. This is on the low end of the new-user promotions in Pennsylvania, but it’s respectable. We really like the no-deposit bonus.

$500 Risk-Free Bet

Most major online sportsbooks currently offer some sort of risk-free bet. The majority of these risk-free bets are capped at $500 for new customers.

If your $500 risk-free bet loses, you aren’t necessarily given $500 in cash to do with as you please. It is usually given to you as site credit meaning that you have to risk that money again in order to claim it. So instead of essentially refunding your lost bet, you instead are baited into betting $500 again and you have to win that time in order to actually claim any money. So while your first bet doesn’t necessarily have risk, you still have to make a standard bet with all of the risks in order to claim any of that money. So yes, it is a nice gesture, but it isn’t exactly the greatest.

Another part of the risk-free bet entails the odds of the bet you are allowed to take. Most sites say that you have to place your risk-free bet on odds of -200 or lower. Therefore you can’t just simply place $500 on a -500 moneyline for a huge favorite and pocket a quick and easy $100. Instead, you have to meet the minimum requirements (usually -200) so that there is at least a realistic percentage that your bet will indeed lose and the sportsbooks instead get to comp you site credit instead of actual cash.

No-Deposit Bonus

Barstool Sportsbook offers a $10 No Deposit Bonus. A no-deposit bonus is a great way to give customers a chance to experience your product without them having to deposit their own money to play. Players simply just sign-up and get credit with a small amount of money to bet with. This is a great way to establish a solid customer base. This will attract a ton of prospective bettors as all gamblers love free money.

If a player wins with this free money it will get them excited and they will have more fun with the sportsbook. This will get them to want to continue playing with your sportsbook and eventually lead to them depositing with their own money. If they happen to lose their first bet, then the sportsbook is out no money and it could still leave bettors wanting more and still leading to them to deposit. At worst, the sportsbook will get customers to sign-up and it will give them access to their contact info to send them out future promotions and bonuses that will, in turn, attract more future deposits.

Typically no-deposit bonuses range from $5-$25. For Barstool Sports, the $10 no-deposit bonus will help. Neither FanDuel nor DraftKings currently offers new customers a no-deposit bonus.

Deposit Match

Deposit match bonuses are some of the most common and most popular bonuses for all sportsbooks. High percentage deposit matches are certainly a fan-favorite. However much you deposit for your first (or sometimes subsequent deposits), the sportsbook will match your deposit amount by a certain percentage, up to a certain amount. For example, a site may offer a 100% first deposit match up to $500. This means if you deposit $500, they will give you $500 as well!

However, just offering a high deposit percentage and a high cap isn’t enough. Playthrough requirements are also a big deal. For sportsbooks that offer 25 or 50 times rollover, it makes it a lot harder for customers to actually “earn” that money compared to a site with little to no rollover requirements. With a $500 bonus, a site that requires a 25 times rollover means you have to gamble a total of $12,500 in order to be able to claim that $500! That makes it very hard to be able to cash out your bonus.

So while a big bonus is nice, it is also important yo give your players an actual chance of seeing that money. Therefore, a small rollover requirement is just as important. Expect Barstool Sportsbook to be around the average deposit match bonus that is 100% of your first deposit with a max of $250 or $500. As for the rollover requirement, hopefully, Barstool Sportsbook keeps it low and in the realm of reality for its customers.

Odds Boosts

Odds Boosts are one of the more entertaining promotions that more and more sportsbooks are starting to experiment with. Odds Boosts aren’t specific to any single sport or wager type. Different sites vary with odds boosts that they offer. You could see Odds Boosts on simple bets such as a moneyline jumping from -110 to +110. Other boosts include parlay payouts where a number of bets need to win in order to payout and those boosts could jump from something like +500 to +650. There is no set percentage for odds boosts and they vary from book-to-book.

Pools and Contests

We already know that Barstool Bets offers free contests to its customers so we can expect their sportsbook will do something similar. Whether they are free-to-play or paid contests remains to be seen (maybe even a mix of both). DraftKings is a perfect example as they hold a number of different contests throughout the year. Free-to-play contests like their Super Bowl squares promotion they did this year or a paid contest like their Spring Sports Betting Championships. Offering up customers something a little different than just the traditional betting is a great way to engage with players and stand out from the competition.

When Will I Be Able to Bet on Barstool Sportsbook App?

There is no timeline currently set for when the first Barstool Sportsbook is expected to launch. However, based on the rumors going around on the internet and some hints by Barstool Sports themselves, a 2020 launch seems highly likely. For sportsbooks, the goal will always be to be up and running before the start of football season, both NFL and NCAAF. Those are the two biggest betting sports of the year and missing out on those two is a big loss.

Surely Barstool Sportsbook will be looking to launch in at least one state, if not more, by the end of August when college football begins. The NFL doesn’t kick off until September 10th but college will begin in late August.

Where can I bet on Barstool Sportsbook App?

You can expect to see a Barstool Sportsbook in every state where Penn National Gaming operates. While that may not be the case early on, as Barstool Sportsbook continues to grow, as well as Penn National, you should be able to find their sportsbook in any state that Penn National obtains a license.

For now, it appears that Barstool Sportsbook will be available in Pennsylvania, Indiana, Michigan, and probably New York and New Jersey according to CNBC. Penn National Gaming currently has 41 properties in 19 states. As more states continue to legalize sports betting you can be sure that Penn National and Barstool Sportsbook will be looking to get access to each one.

Types of Bets at Barstool

It can be assumed that Barstool Sportsbook will offer the type of betting options that you can find and virtually every other sportsbook.

– Spread
– Moneyline
– Total
– Parlays
– Teasers
– Futures
– Props
– Live-betting

What Sports You can Bet on at Barstool?

As for the different sports available to bet on, there are a number of them that are a given and some that may or may not be available.

Expected:

– Baseball
– Basketball (NBA and College)
– Boxing
– Football (NFL, XFL, College)
– Golf
– Hockey
– MMA
– NASCAR
– Soccer (Club and National)
– Tennis

Could Also See:

– Australian Football
– Canadian Football
– Cricket
– Cycling
– Darts
– Entertainment
– Rugby
– Snooker

Barstool Cashier Options

The type and number of deposit and withdrawal options offered by a sportsbook can make or break them, more so withdrawal. It isn’t the funding of the account that players are most worried about, it is receiving their money. Not offering up enough withdrawal methods could be a killer, especially if a sportsbook doesn’t offer quick and simple methods. Sites that offer only prepaid cards or that make customers travel to the casino to collect funds are really hurting themselves.

While offering up a nice selection of deposit methods is nice, sportsbooks also must supply customers with a good selection of withdrawal methods as well. Online banking, eCheck and PayPal are three of the quickest, the easiest, and most preferred method by most bettors. It will be very important for Barstool Sportsbook to offer customers plenty of options. The more the merrier.

Likely Deposit Methods

Credit/Debit Card
eCheck
Online Banking
PayPal
Skrill
Neteller
PayNearMe
Prepaid Card
Cash at Penn National Casino Cage

Likely Withdrawal Methods

Online Banking
Check
PayPal
Prepaid Card
Cash and Penn National Casino Cage

FAQ

Frequently Asked Questions

What is Barstool Bets?

Barstool Bets is Barstool Sports’ page for sports betting content and free-to-play contests. Both their website and their Barstool Bets app provide sports betting news, blogs, videos and more in addition to their free-to-play contests.

Is Barstool Bets legal?

Yes. Barstool Bets is legal to residents in 48 states with only Nevada and Washington being excluded. Since Barstool Bets isn’t technically classified as sports betting, it operates similar to a site like Monkey Knife Fight or a daily fantasy sports site.

How to Play Barstool Bets?

In the Barstool Bets free-to-play contests, you are given a number of points to bet (typically 1,000) and are free to bet those points any way you like (spread, total, moneyline, etc.). The players with the most points at the end of the designated game can win money. First place is typically worth $1,000!

Who is the Barstool Weather Girl?

Hannah Cook is the Barstool Sports weather girl. At first, she was one of the girls on the Barstool Sports Smokehow. She then became an “advisor” for Barstool Sports.

What is Barstool Net Worth?

After the acquisition by Penn National for 36% of Barstool Sports for $163 million, the company was estimated to have a value of $450 million. That is a huge jump from back in 2018 when the company was estimated to have a value of $100 million.

Who owns Barstool?

Barstool Sports was founded by Dave Portnoy back in 2003. Penn National and The Chernin Group both currently own 36% of Barstool Sports with the remaining 28% belonging to a select number of employees, including Portnoy and CEO Erika Nardini.

Is Barstool Bets free?

Yes. Barstool Bets offers free-to-play contests. Contestants can win real money completely free. There is no deposit or wager requirement in order to play or win.

What is Barstools Sports Betting Podcast?

The Barstool Sports Betting Podcast started back in August of 2014. The show started out with Portnoy and “Big Cat” covering college football and NFL gambling content. Both Portnoy and Big Cat would take calls from listeners and also provide a sports betting pick.

Who is Barstool Big Cat?

Dan “Big Cat” Katz is part of the Barstool Sports Chicago team. He is the co-host of the Pardon My Take podcast as well as Yak and the Rundown. According to his Barstool Sports profile, he only bets overs and he also “holds the record for most stingrays pet at the Shedd Aquarium”.

Will there be a Barstool Casino?

Most likely. The majority of major online sportsbooks pair up an online casino with their sportsbook. Some are even working to include online poker but it is unknown if poker is part of any future plans between Penn National and Barstool Sports. However, we can expect an online casino brand to be paired up with the Barstool Sportsbook sometime in the future.

Barstool Sportsbook App
  • Casino Partnership
  • Audience
  • App Experience
5

Summary

The 36% stake in Barstool Sports by Penn National Gaming is a big step for both companies. For Penn National Gaming, it gives them access to one of the biggest names in sports and pop culture content. For Barstool Sports, it gives the company the opportunity to open a sportsbook under its name. As part of the agreement, Penn National will be Barstool Sports’ exclusive gaming partner for a period of up to 40 years. Penn National also has the right to use the Barstool Sports brand for all of its online and retail betting and iCasino products. After three years, Penn National will increase its ownership to approximately 50% with an incremental investment of approximately $62 million.

  
Calvin is a sports betting enthusiast that has been in the business for over 10 years. He has created successful betting formulas for seven different sports. way too serious Packers, Mets, and Avalanche fan that hates everything Pittsburgh, despite living there.

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