Barstool Sports is back in the gambling space following news of a partnership with DraftKings. The deal would make DraftKings Sportsbook the preferred gambling app of Barstool, where the company would then promote lines and provide promo codes for new signups.
According to Sportico, the deal will be, “a multiyear deal that will pay Barstool in the low eight figures per year.” Nothing concrete can be announced until after the Super Bowl due to Barstool’s ongoing separation from former owners Penn Gaming.
Last year, Penn sold Barstool back to founder Dave Portnoy for $1 following plans to harness Barstool’s rabid audience to promote the Barstool Sportsbook, a wagering app with Barstool branding and exclusive plays from Barstool talent. Unfortunately, the app never met Penn’s expectations, and the company instead partnered with ESPN to launch ESPN Bet. Former CEO Erika Ayers Badan said the partnership between Penn and Barstool “was not working” and ultimately led to the two sides parting ways.
It was only a matter of time until Barstool linked up with another online sportsbook. It has dedicated gambling shows like Barstool Sports Advisors and Barstool Picks Central. Even outside of dedicated gambling shows, the company’s talent discusses gambling on many of its popular podcasts and properties, including Pardon My Take, Spittin’ Chiclets, Barstool Radio, and more. The company also livestreams watch-along content from a room in the Barstool office called “The Gambling Cave,” making it all that more inevitable that a partnership with one of the major online sportsbooks was coming. There is also some synergy between Barstool and DraftKings, as former Barstool employee Jared Carrabis works for DraftKings.
