The notorious sports content site Barstool Sports and Penn National Gaming made big news earlier this year when they announced a blockbuster deal to bring the Barstool brand into the nascent US sportsbook scene. Penn National acquired a significant piece of Barstool Sports, with the intention of Barstool Sportsbook opening for business before the start of the 2020 NFL season. We suggest trying one of these top Sportsbooks.
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While the platform wasn’t able to launch before the start of the NFL season, they did finally did launch a Barstool Sportsbook in Pennsylvania toward the middle of Septemeber, 2020. This leaves plenty of time for some NFL gaming fun!
Here is a review of everything you can expect from Barstool Sportsbook PA and the company’s plans for expansion throughout the US.
Barstool Sportsbook welcome bonus
The welcome bonus for Barstool Sportsbook is finally settled. After much speculation about what the initial bonus might entail, Barstool decided to offer two of the most popular promotions, creating a welcome bonus with both a no deposit bonus and a risk free bet!
Here are the details:
For the no deposit bonus, you will receive $10 free just for signing up! To spice up the deal even further, once you make your first deposit to the platform and make your first wager, you will be eligible for a risk free bet of 100% up to $500! This means that if your first bet loses, you will be reimbersed 100% of the value of your bet, up to $500 to make another bet.
Barstool Sportsbook promo code
|Online Sportsbook||Barstool Sportsbook|
|Free on Signup||$10|
|Risk Free Bet||100% up to $500|
|Last Verified||December 2020|
Barstool Sports and Penn National Gaming
Barstool Sports has entered into a partnership with Penn National Gaming whereby the casino and racetrack operator purchased a 36% share of the business. The buying price is $163 million, which equates to Barstool Sports having a value of $450 million. The investment for the acquisition comes in the form of about $135 million in cash and $28 million as non-voting convertible preferred stock. Within terms of the deal, Penn National will be Barstool Sports’ exclusive gaming partner, which allows the use of its online and retail sports betting brand.
The partnership will develop further over the next three years. Penn National Gaming will eventually acquire about a half share of Barstool Sports by 2023. The overall investment will increase by $62 million, which falls in line with the implied valuation of Barstool Sports at the current time. The deal could ultimately see Penn National Gaming have full control of Barstool Sports and be the full owner. Penn National now has exclusive full Barstool Sports gaming rights for up to 40 years from a deal that is significant in the overall development of legal sports betting in the United States.
Company background — Barstool Sports
Barstool Sports was originally a sports blog that attracted some controversy, but its image has changed significantly in recent years. The deal with Penn National Gaming values Barstool Sports at $450 million. The company has made a major move by entering into the legal sports betting industry. It does have existing partnerships with FanDuel and SportsBet and others, but the creation of a sportsbook and betting app is a new development.
Company background — Penn National Gaming
Penn National Gaming is already a significant player in sports betting across the United States. The company operates retail wagering in states that have legal sports betting, including the following: Illinois, Indiana, Iowa, Michigan, Mississippi, and Nevada, in addition to their online sportsbook and retail sportsbook that just opened in Pennsylvania. The core products are casinos and racetracks, but Penn National has made significant acquisitions in online sports betting in recent years following the repeal of the Professional and Amateur Sports Protection Act (1992) in May 2018
Jay Snowden, president, and CEO of Penn National highlighted the major benefits of this deal with Barstool Sports. He said:
“Since announcing our groundbreaking partnership with Barstool at the end of January, we have seen first-hand the power of the Barstool brand to generate significant customer interest and increased engagement between Barstool and our own national platform of 41 properties in 19 states. Our two teams have hit the ground running and are working on plans to roll out the Barstool Sportsbook brand through both our retail sportsbooks and interactive products.”
Barstool Sports launch — App, sportsbook and retail
Although they hoped to launch the first Barstool Sportsbook in the US by August 2020, the Pennsylvania sportsbook did end up launching in September 2020.
However, this is only the beginning of the plans the platform has to start opening both online and retail sportsbooks throughout the United States. The complete deal will create a significant omnichannel provider of sports betting entertainment. Sitting alongside Penn National’s stake in Barstool Sports is the remainder in the hands of the current owners and current and former employees. There are also additional purchasing options over the next three years. The deal brings together a trusted and recognized brand and a leading gaming operator.
Now that Pensylvainia is up and running, Barstool Sportsbook is setting its sights on a number of states, including Colorado. Voters in the state have approved plans for legal sports betting. The margin was 756,720 (51.5%) in favor and 723,665 (48.5%) against the move. Industry experts have suggested that such votes indicate there is an interest in sports betting in the United States, which has prompted the deal between Barstool Sports and Penn National Gaming.
The sports betting software is provided by the Kambi Group, which became Penn National’s exclusive operator in August 2019. Since 2014, Kambi has supplied sports betting services to operators that are licensed to provide gaming products. The software functions include odds compiling and risk management. There has been speculation that the first retail location could be Penn’s Hollywood Casino at Charles Town in West Virginia.
Barstool Sportsbook new player bonus – Terms & conditions
Here are a few of the different terms and conditions specific to the Barstool Sportsbook PA platform:
- New customers only and existing customers are not eligible.
- Players must be 21 or older.
- Qualifying initial deposit.
- Odds restrictions and wagering requirements will apply.
- Free bets expire after 365 days
- General Barstool Sports terms and conditions apply.
Barstool Sports 2020 promos
Right now, Barstool Sportsbook PA is focusing on signup bonuses but as time goes on, the platform is sure to introduce plenty of promos related to football, hockey, basketball, and baseball.
Here is a sample of current promos with existing US sports betting operators:
- NBA bets paid out early if the backed team led by a specific number of points.
- NHL boosted odds for winning parlays.
- NFL Monday Night Football bonuses.
- MLB free bets for specific games.
While it is still too early to tell, the most popular betting categories with Barstool Sports is expected to be the four main North American professional and amateur sports. However, like other sportsbooks, it is likely that there wil also be promos that encompass the thrill of global sports, such as soccer, boxing, tennis, and golf.
How to sign up for an account at Barstool Sports
The signup process for Barstool Sportsbook is typical. Here is the step-by-step guide to creating a new account with online sportsbook :
- Visit the homepage of the Barstool Sports site.
- Click the registration button.
- Enter personal, contact, and account details.
- Specify a username and password.
- Populate the required fields.
- Verify you are 21 or older.
- Confirm acceptance of the Barstool Sports terms and conditions.
- Create a new account.
Barstool Sports betting app
As a mobile customer, you can download the sportsbook app with ease. Android and Apple users can install the operator’s website on their devices, as long as the browser is mobile-optimized. The Barstool Sports iOS app should be downloadable from the Apple App Store, but Android users will have to install the website release.
The Barstool Sports app has all the functions of the website. Therefore, Android and iOS users can claim any sign-up offer when registering and take advantage of the package of dynamic promotions for current players. The Barstool Sports app is well-designed, visually appealing, and easy to navigate.
Barstool Sports betting options
Barstool Sports will be launching a conventional fixed-odds online sportsbook. The model should replicate existing services, and that means a familiar range of sports and betting options. It is safe to assume that you will be able to select from a comprehensive range of betting markets for football, hockey, baseball, and basketball. The site is a US-facing operation, but there should be a number of global sports categories. We can anticipate full coverage for soccer, boxing, tennis, and golf. In addition to the regular sports, Barstool Sports players will probably be able to place wagers on politics, esports, and TV and entertainment novelty markets.
Thus, the operator provides a wide range of betting options, which include:
Types of bets with Barstool Sports
Barstool Sports offers the three main types of bets that are common throughout the sportsbook gaming community for players who reside in the United States:
Barstool Sports offers comprehensive range of pregame markets across potentially up to 30 sports. How this works is the operator will release the odds a few days before a fixture, and they will be subject to change. There will be minimum and maximum bets, depending on the sport and the importance of an event. Pregame betting will be suspended once the game has started.
In-play wagering is an important element of the Barstool Sports sportsbook. You can place bets in a number of markets after a game starts across all the popular US betting sports. The odds are updated during the game but suspended after a key event.
Additionally, there is a Cash Out option available for select events. The cash-out value depends on the original bet and odds at the time of the request.
Futures betting is popular with bettors in the United States, and Barstool Sports offers many options, including the winners of divisions, conferences, and championships in the main US betting sports as well as in soccer, tennis, and golf.
How to place a bet with Barstool Sports
The bet placement process with Barstool Sports is quick and easy and involve locating a line or number of lines, selecting one or more, and then specifying the type of bet and stake on a bet slip. Once the bet has been accepted, your account balance will be updated accordingly.
Barstool Sports deposit and withdrawal options
Barstool Sportsbook offers a number of banking options:
- Debit and credit cards
- Bank transfer
- PayNearMe stores
- Barstool Sportsbook Play+
Most transactions will be free, but some providers may issue a nominal charge, especially if using a credit or debit card. Deposits will mainly be immediate, but withdrawals will be subject to delays, depending on the method.
Customer service with Barstool Sports
Barstool Sports offers a lot of customer service options to accommodate the communication method that the individual player is most comfortable with using:
- Postal address
- Help facility
- Live chat
- Social media accounts
Additionally, Barstool Sportsbook is also commitment to responsible gambling, with links to support bodies and a raft of control measures that can be adopted by problem gamblers.
Closing comments about Barstool Sports
Barstool Sportsbook uses the association with Penn Gaming National and the Kambi Group to offer customers across the country a good destination for sports betting. The operation does not have any major flaws and provides effective pregame and in-play interfaces. The service includes a fully functional mobile app that offers all the features of the website. Overall, this omnichannel operation brings is built upon the strengths and experience of Barstool Sports and Penn National Gaming to produce a good addition to the US sports betting market.