Barstool Penn National Gaming


Ever since Penn National Gaming announced their partnership with Barstool Sports, the sports and betting industry has been buzzing (even more than normal!). The deal was completed in the end of January 2020, and includes an acquisition of 36% of Barstool Sports in exchange for $163M. The partnership makes Barstool Sports the exclusive gaming partner of Penn National Gaming for up to 40 years, and there are kickers for Penn National to grow its ownership of Barstool Sports significantly. Here’s the video from Barstool’s President, Dave Portnoy, announcing the partnership.

Ever since Dave Portnoy’s emergency press conference to announce the partnership, Barstool fans, sports betting fans, and sports media alike have all asked one question: When is Barstool Sportsbook coming to my state? Let’s look at the answer.

 

When Will Barstool Sportsbook Launch?

There has been some speculation about this, but let’s get the facts out there. Based on the Penn National press release, there will be two phases of the Barstool Sportsbook “launch”.

  1. Barstool Sportsbook’s initial retail book will open at Detroit’s “Greektown Casino” during March Madness 2020, which is right around the corner!
  2. In the third quarter of 2020 (July, August, September), the Barstool Online Sportsbook is expected to launch, which is a mobile application for sports betting.

While there is no exact date or state information yet, that will become more clear as time goes on.

 

When Can I Bet on Barstool Sportsbook Online?

Based on the above information from the press release, expect to be able to bet online on Barstool Sportsbook for the 2020 football season. Given the timeline of the third quarter of 2020, it is expected that Barstool and Penn National Gaming will do everything in their power to launch for football season, which is the prime betting market. Also, this will be in time for NBA, the MLB playoffs, and more. Given that Penn National Gaming operates in 19 different states and many have already legalized online sports betting, this means we could see Barstool Sportsbook in the following states sooner rather than later:

 

Which State Will Have Barstool Sportsbook First?

The true answer to this is all but likely to be in Michigandue to the natural following of opening a retail sportsbook at Detroit’s “Greektown Casino” during March Madness 2020 as mentioned above. After Michigan though, expect other states that have had infrastructure built for quite some time to have the first shot at retail and online Barstool Sportsbooks. These states include Pennsylvania, New Jersey, Indiana, Illinois, Iowa, Tennessee and Colorado.

Penn National Gaming has sportsbooks all over the country, and with more states launching mobile sports betting with various rules and licenses, the potential is huge for Barstool Sportsbook to be everywhere. Penn National Gaming’s CEO Jay Snowden already said he expects to have a top-three marketshare in each and every state that Barstool Sportsbook enters. That means it will be Barstool Sportsbook, DraftKings Sportsbook, and FanDuel Sportsbook in some particular order, in Snowden’s eyes.

Barstool Sportsbook Launch

 

When Will Barstool Casino Launch?

Another intriguing part of this partnership is the “Barstool Casino”, which is planned to launch in 2021 with Penn National Gaming and Barstool Sports rolling out an iGaming platform. The casino will integrated into the Bartstool Sportsbook app, similar to whar DraftKings currently offers. Given how many people will be on the sports betting app, cross promotion will be quite easy to try to woo users to the online casino as well. The current process in most states has consisted of the legalization of sports betting as wave 1 and onlince casino as wave 2.

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