Betting From the Barstool – Barstool Sportsbook Review
In the world of sports betting, there is a whole new meaning behind pull up a barstool. We're not making any reference to bellying up to the bar, but for a new sports betting idea called the Barstool Sportsbook. However, Barstool isn't new to the sports betting scene.
Barstool Sports (BSS) started out as a basement project as a newspaper-like publication about sports gambling. Dave Portnoy, the founder of BSS, plugged his idea at nearly every casino with a sports betting window in Vegas.
Portnoy developed a working relationship with the daily fantasy sports leaders from the very beginning. BSS's endurance in the sports betting business long before the May 14, 2018, US Supreme Court ruling is proof of the Barstool's longevity.
It is not a company that was triggered by the overturned court ruling that opened the door for legal sports betting, it is a company that has been an integral part of sports gambling for nearly two-decades.
Here's how Barstool Sportsbook skyrocketed onto the sports betting scene. We'll discuss why the partnership with Penn National Gaming is so important. Next, we'll take a look at the tools and the app, plus let you know when and where they will first available.
Barstool Sports Teams Up with Penn National Gaming
With little doubt, the biggest event for Barstool Sports was teaming up with Penn National Gaming. It was deemed so important that BSS founder Dave Portnoy called what was dubbed as an emergency press conference to announce big news.
Portnoy used a brilliantly amusing approach to announce what was a very serious development for BSS. He made it clear that what began as a sports gambling business out of his parent's basement was headed for new horizons.
While Portnoy started as an internet sensation playing off a satirical angle about sports, his company's unified efforts with Penn National Gaming will be anything but funny. Penn National Gaming currently holds a 36 percent share of BSS.
There is a clause in the agreement for them potentially to make a full acquisition over the next three years. Meaningful decisions are still made by the current controlling interest at BSS, but as the sportsbook begins to take precedence, look for Penn National Gaming to secure more control.
Reaching for the Moon
In his emergency press release, Portnoy made no bones that BSS was reaching for the moon, and that he intended to get it. Penn National Gaming has a tremendously strong infrastructure, which is like a propeller driving Barstool's potential.
By opening up the window of opportunity with Penn National Gaming, the potential for success for the Barstool Sportsbook app is limitless. When you consider the number of states that Penn National Gaming already operates, there are bountiful opportunities in every one.
Not all have pushed new legislation for sports betting across their governor's desk, but most have started the process. Those states where Penn National Gaming already has an approved sports betting license are ready targets for the Barstool Sportsbook app.
This is a company that hasn't stopped reaching for new heights since it first walked up from Portnoy's parent's basement. Linked with one of the most prominent casino and gaming companies in the US gives BSS a clear shot at reaching for the moon and getting it.
Barstool Betting Tools and App Review
As an innovative presence on the internet, Portnoy built a reputation for knowing what worked. While he no longer owns the controlling interest in BSS, he is a contributor to ongoing operations.
Barstool Bets is the first option for sports betting. It will offer free plays and a solid preview into what we might expect from the full sportsbook app and the website. Expect a strong use of color, but a functional blend with readable text.
There are currently over 50,000 ratings on a series of Barstool Sports apps already available. This extensive experience will clearly be an advantage as the sportsbook app unfolds. Barstool's current apps easily rank in the top 100 overall for sports apps.
Part of the free-to-play Barstool Bets, sports enthusiasts can watch live streaming video and check out up-to-date sports news. BSS is not a rookie walking into the gym for the first time. They have experience and knowledge that will certainly help them build a successful app with all the right tools for users.
Barstool Sportsbook Promo Codes and Bonus Promotions
Barstool Sportsbook will follow the general model of currently successful sportsbook apps. However, do not be surprised if a company that was piloted on reaching for the moon doesn't come up with some successful promotional perks of their own.
Barstool Sportsbook will immediately offer all new accounts a chance to earn a free matching deposit bonus. There will be standard play-through requirements, but Barstool may lighten these restrictions. This will be a joint decision with Penn National Gaming executives.
There will also be a series of risk-free betting options. Some will have particular limits or baselines for the odds that qualify. Most risk-free bet amounts fall between $200 and $500. There can be restrictions on game type or even day of the week.
With such a large volume of potential new states ahead of the Barstool Sportsbook app launch, no one should be surprised if they offer additional promotions and bonuses. One key offering could be a promotional code attached to a no deposit bonus.
Most sportsbook bonuses have a preset series of requirements necessary to unlock these types of bonuses. Look for Barstool Sportsbook to have similar guidelines in place. As a new player in online sportsbook operations, plan to see booster odds on a daily or weekly basis.
These are excellent ways to keep players active and make sure they check the board frequently. These are excellent ways to grab enhanced odds on a particular game or in-game outcome. Speaking of in-game bets, there is a high probability that Barstool will offer this exciting way to bet.
Other contests such as tournament pools are also proving popular with sports bettors. It is essential to offer these contests online. Being able to enter and follow pool results from anywhere is critical. Expect Barstool Sportsbook app to have pool games as well.
When Will the Barstool Sportsbook App be Available?
Projections have targeted a launch date for the Barstool Sportsbook later this summer. Most insist that it will be available at some point around August 2020. There is a great deal of logic behind this date, and follows with statements made by Penn National Gaming CEO Jay Snowden.
While it would erase a chunk of the MLB schedule, a launch before the end of August would mean Barstool would be ready for the upcoming NFL season. When the launch date does happen, the Barstool Sportsbook app will be available wherever Penn National Gaming has an active online sports betting license.
Where Will the Barstool Sportsbook App Be Available?
Everywhere that Penn National Gaming has an approved online sports betting license, Barstool's Sportsbook app will be permitted. Since New Jersey has produced a number of successful first sportsbook app launches, look for this to be an early state on their list.
Not far behind will be neighboring New York and Pennsylvania. Pennsylvania is another state where Penn National Gaming has a strong presence. There is a chance that Pennsylvania could even supersede New Jersey.
Penn National Gaming's headquarters are in Wyomissing, Pennsylvania. We need to keep that in mind when weighing which state will launch first between New Jersey and Pennsylvania. In January, there was talk of a Penn National Gaming – Barstool Sportsbook prime for Ohio when sports' betting becomes legal.
Look for Indiana and Michigan to launch within days of the first states. As other states like West Virginia become viable markets for Penn National Gaming, look for the Barstool Sportsbook app to be available there as well.
Currently, there are a total of 19 states where Penn National Gaming operates. Some of these states already have legalized sports betting, such as those mentioned above. As new states rewrite their sports betting legislation, look for Penn National and BSS to be ready.
Betting at the Barstool
Barstool Sports has generated success by knowing what is successful. They will undoubtedly focus their betting platform based on years of experience. In some respects, they will certainly not attempt to reinvent the wheel.
It would be realistic to expect every bet available on a standard sportsbook platform to be available on the Barstool Sportsbook app. However, this is also a company that is driven to think outside the box.
There is already a clear indication that Barstool will target a number of exciting in-game betting lines. Look for them to offer a number of engaging prop bets as well. Futures are another popular type of bet that would clearly fit the model for Barstool.
This was a company that began as an informational source for sports betting, laying the groundwork for projections. Looking into the future to project and bet on eventual champions, most valuable players, or other types of outcomes is a strong possibility for the Barstool Sportsbook.
Barstool Cashier Options
The Barstool Sportsbook app options should mirror those things inherent at Penn National Gaming operations. There will be all the traditional methods for depositing money into accounts and withdrawing winnings.
Barstool Sportsbook will offer bank transfers and accept various credit and debit cards. Look for eChecks to be another cashier option. Prepaid cards and a PayPal account will also be ways to handle financial transactions. Realistically, the connection with Penn National Gaming should also open up the option to use cash at certain casino windows.
Frequently Asked Questions About Barstool Sportsbook
Betting on the Barstool Sportsbook will be regulated by the state you are in. If the state has legal online sports betting, and Barstool's app is operating in that state, you can make a bet on any of the games or betting platforms that Barstool Sportsbook offers in that state.
Barstool Sports has been a part of the sports betting industry for nearly 20 years. From the minute the founder launched his sports gambling newspaper, they have remained an up-to-date source of sports betting information. Now Barstool Sports is a legitimate player in the sportsbook industry as well.
No, currently Barstool Sportsbook is only legal in the states that have issued a license for Barstool's app through Penn National Gaming. Sports that have legal online sports betting will be the first states to include Barstool. Those with pending legislation for online sportsbooks will be next on Barstool's list of potentially legal venues.
Barstool Sports founder sold most of his interest around four years ago. The sale price was estimated at $10 million. There was an influx of new capital form The Chernin Group that more than doubled the company value instantly. Now, Barstool is estimated to be worth at least $100 million, with some estimates as high as $450 million.
In 2016, founder Dave Portnoy sold a majority share of BSS to The Chernin Group for an estimated $10 million. Chernin quickly infused another $15 million into the company. After Penn National Gaming bought their 36 percent interest, that leaves around 4-percent of the company owned by BSS employees.
Ahead of the official launch of the proposed sportsbook apps in legal online betting states, Barstool jumped ahead of the curve. Barstool Bets is a free app that also provides content on sports and sports betting.
Since one of the strongest holdings of Penn National Gaming is a series of physical casinos, do not be surprised if their partnership with Barstool Sportsbook doesn't eventually yield some type of online casino option. In fact, the idea was mentioned as part of the press release for the partnership announcement between BSS and Penn National Gaming. It might be a safe bet to say yes.
There are dozens of real-life success stories about productive business, companies which started in basements, attics, or garages. Barstool Sports is one that launched out of a sports enthusiast's parent's basement. Through a tenacious work ethic and refusal to accept no, Dave Portnoy drove BSS forward.
Now, as the sports betting industry spirals across the nation, Barstool Sportsbook has unified with Penn National Gaming to create a new course for Portnoy's original vision. As he said, Barstool is reaching for the moon, and they're going to get it.