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Penn National says its investment appears to be paying off with low customer acquisition costs for Barstool Sportsbook and younger customers.

• Barstool Sports is a sports & pop culture blog covering the latest news and viral highlights of each and everyday with blogs, videos and podcasts. By the common man, for the common man.
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Barstool Sportsbook - Best Sports Betting App - Coming Soon Stay connected and be the first to know when we launch in your state. Provide your contact information and we will update you on upcoming launches and events for the Barstool Sportsbook. Barstool Sportsbook operated by Penn National Gaming, Inc. And licensed subsidiaries.

Penn’s stock dipped briefly in pre-market trading Thursday as earnings per share estimates missed analyst expectations. That quickly turned around as investors digested its earnings presentation and full results.

Only two business segments saw adjusted EBITDAR growth in the fourth quarter of 2020. Those were the southern segment, which was least impacted by restrictions from COVID, and the segment including Barstool Sports.

Penn CEO Jay Snowden expects a much quicker rollout pace of its Barstool Sportsbook app this year. That’ll start with Illinois, with Penn hoping to launch before March Madness. The app will then launch in new states every three to five weeks with at least 10 states live this year, he said.

Snowden sang Barstool’s praises and reiterated the brand’s strength in the US sports betting market:

“What I think you should assume is that we are going to be top three, we said that before we ever launched and we’re delivering on that. We’re going to be profitable faster than anyone else, and we’re delivering on that and continue to deliver on that pledge, again, faster than anybody else.

“And as we scale, we just end up with a lot more dry powder to be more aggressive in the areas of widening that funnel and customer acquisition that we believe is driving the best return.”

Barstool Sportsbook acquiring customers at industry lows?

Ever since Penn invested $163 million for 36% of Barstool Sports early last year, the company talked about how customer acquisition could look different and cost less given Barstool’s user base. It’s reported to be 66 million monthly visitors.

So far, that’s proving to be more than true. It can cost sportsbooks anywhere from $300 to $800 to acquire a sports betting customer, Snowden said. But that’s not what Penn’s paying.

“For Penn, so far from the first four months in PA, despite all of the Barstool Fund matching that we’ve done as well as in Michigan in our first month, we are well below the bottom end of that range,” Snowden said. “We have so much room, we have so much cushion to be opportunistic and figure out what we want to do and how we want to do it.”

Even with the more than $3 million donated to the Barstool Fund from Michigan’s first weekend, customer acquisition costs are still less than $200 each, he added.

Penn also “dabbled” with some TV ads in Michigan and Pennsylvania during the AFC and NFC championship games. The company was happy with those returns, Snowden said.

Barstool Sportsbook has different Super Bowl plans

Snowden praised Barstool’s plans to drive Super Bowl bets this weekend that its competitors can’t really replicate.

Five personalities from Barstool will bet throughout Sunday to see who can win the most money. Bettors will be randomly assigned to one of the five teams by betting $100 on any Super Bowl wager.

Whichever personality comes in first will win everyone on the team $1,000 dropped into their account.

“Those are ideas that no one else really maybe has thought of, but more importantly they don’t have the people and the following within their media partnership that it would even make a difference,” Snowden said.

Penn Interactive could be profitable – with this twist

Penn lumps its interactive business into its “other” segment, which includes a mess of line items like corporate costs. The segment saw a significant improvement of a loss of $1.3 million in the fourth quarter. That was up from a $21.7 million loss in the prior year.

“What you see in that other line is that you’re seeing really early on profitability,” Snowden said. “I’m not telling you that you should expect that every quarter because we may decide that as we launch we want to be more aggressive.”

In other words, where most sports betting companies are burning cash to acquire market share, Penn’s segment could be profitable this year. It’ll more likely break even for the year considering marketing pushes in new markets, Snowden said, but should be profitable in 2022.

Next states for Barstool Sportsbook

Illinois was an easy choice for the next launch, Snowden said. Chicago has the second-highest Barstool Sports following behind only Boston and there aren’t any other states launching anytime soon.

Snowden said 10 states simply because that’s what launching in the currently available markets like New Jersey, Tennessee and West Virginia would equal by the end of the year.

Those launch plans could change if other new states move quickly, he added. If a state like Massachusetts or Texas legalizes this year and fast-tracks its market launch, Snowden said Penn would shuffle plans to make sure it was on the starting line in a new market.

Retail sportsbooks see boost from Barstool brand

The Barstool Sports fans known as Stoolies aren’t just flocking to the brand’s online sportsbooks. Snowden said all of the sportsbooks rebranded under the Barstool name saw “very strong results” after the change.

Indiana‘s retail sportsbooks reported record handle, revenue and EBITDAR in the fourth quarter, especially after the rebrands, he added.

Ameristar East Chicago, for instance, saw handle jump 35% in the four weeks after its rebrand compared to the previous six weeks. The table games and slots in the adjacent Barstool-themed gaming areas also saw handle jumps of 27% and 26%, respectively.

Barstool Sports Bet

Those retail rebrands will continue throughout 2021, starting with Pennsylvania in the first half of the year.

Younger customers coming for Barstool brand

Remember that sports betting is rarely going to be a significant financial boost by itself for any operator. Its use as an acquisition channel is far more critical with those customers hopefully playing at higher-margin table games and spending more at non-gaming amenities.

Snowden called January’s trends encouraging with retail sportsbooks positively impacting gaming and non-gaming revenue, especially with a key demographic.

“We are continuing to see encouraging growth in the younger demographic tiers of our database, and we believe the rollout of vaccinations will encourage more guests in all age segments of our database to return to our land-based facilities soon,” Snowden said.

Penn National just bought a 36% stake in Barstool – the popular sports media brand. This brand has used their experience to open the an online sportsbook in Pennsylvania in September 2020 and Michigan in January of 2021, and they plan to continue opening retail and online sportsbooks in multiple states.

With a huge audience for their podcasts and video content, Barstool is a great match for Penn National. With casinos in 17 states – 7 of which already have online sports betting. We suggest trying one of these top Sportsbooks.

This page covers the information available on the new Pennsylvania Barstool retail and online sportsbooks, as well as expectations for future launches throughout the United States.

States with Barstool Sportsbooks

Penn National owns casinos in multiple states and they partnered with Kambi who provides the licensing to expand their already thriving empire, prior to opening Barstool Sportsbook PA.

Penn National, who runs the Hollywood casinos also operate many more on behalf of others. Many of these are branded under the Hollywood Casino name. Famous casinos that they operate include the Tropicana on the Las Vegas Strip, the Greektown Casino in Detroit, and the Hollywood Casino at the Penn National Racecourse in Pennsylvania.

In addition to Pennsylvania, of the 18 jurisdictions that Penn National is active in, the following have (or will soon have) legal sports betting online: Colorado, Michigan, Iowa, Indiana, Illinois, and Mississippi.

New Player Bonuses at Barstool Online Sportsbooks

Barstool has no problem competing with many major betting brands and their two-pronged welcome bonus is excellent proof of their capabilities. Here is what Barstool Online Sportsbook unveiled for the PA launch:

No Deposit Bonus: The no-deposit bonus is one of the most keenly sought after bonuses available, as it offers new players a chance to try out the sportsbook for free. When you sign up for Barstool Sportsbook, you will receive $10, just for trying out the platform. All you need to do is successfully sign up for the platform and to do that, you need to be physically located in the state of Pennsylvania and you need to be at least 21 years old.

Risk Free Bet: The risk free bet is another interesting promotion. This promotion is redeemable after you play your heart out with the free $10. When you are ready for this promotion, you need to deposit your money and make your first bet. Make sure that one bet is a maximum of $500. If the bet wins, you get to enjoy the spoils but if that bet loses, you will receive a risk free bet reimbursement of 100% up to $500!

Barstool Sports Promo Code

Loyalty Rewards and Player Promotions at Barstool Sportsbook

Getting bettors to sign up will only be part of the challenge for the Barstool sportsbooks. They will need to keep people interested – and their betting bankroll topped up. With many sportsbooks offering promotions like odds boost, parlay insurance, loyalty rewards based on betting volume, and more, Barstool will need to offer something new.

What this brand has in its favor are the presenters on their media platforms. Other media/betting site partnerships have made good use of this. One example is FOX Bet. This brand allows presenters from their most popular shows to make picks. Those picks are then given boosted odds or loss insurance.

It would come as no surprise to see the likes of El Presidente, Big Cat, and KFC running similar promotional offers. Penn National casino resorts have a loyalty scheme called ‘MyChoice’. If the loyalty rewards on betting apps were linked to this scheme, then hotel stays and resort credits could make up part of the benefits package.

Accessing Barstool Sportsbooks: Apps and Website Options

Apps for smartphones are a vital component of any online sportsbook these days and Barstool Sportsbook PA is available for both Android and Apple iOS devices.

Not only do these allow for betting from bars or the stadium – they unlock in-play betting opportunities too.

In most states, apps are a requirement for smartphone/iPhone betting. These apps include the geolocation technology needed to positively confirm you are inside state lines. You won’t be able to place bets outside of the state where your Barstool sportsbook is licensed. Any doubt about your location means no bets will be possible.

To download the apps, your first step is to access the Barstool Sportsbook website from your mobile device. When you then hit the ‘install’ or ‘download’ button, you’ll get the right app for your device. Note that Android users will be downloading directly from Barstool. You will need to say ‘OK’ for any messages showing that you are downloading from a source outside of the official Play store.

You can also bet on your desktop computer, using a website version of the Barstool sportsbook. That extra screen space will come in useful if you are planning a whole weekend of bets.

Getting Around the Barstool Website/Apps

Kambi is a big international sports betting platform. They also provide odds for domestic and international sports. By looking at Kambi powered apps in the regulated states, we can see how the Barstool sportsbook apps are likely to be organized. In PA, the Hollywood casino apps are created in partnership with ‘Penn Interactive Ventures’.

Barstool Betting App States

When you first access the website or apps, you’ll be shown any matches in the pro leagues which are already underway. Live (in-play) betting is popular on all US sportsbook apps. This lets you place many bets on games that are in progress. Odds feeds update the betting lines in real time to allow this.

Whichever of the pro sports are in season will be featured at the top of the list. On the website, this shows on the left. Sports here are football, basketball, baseball, hockey, soccer, and golf. Other sports like tennis and MMA can appear when there are major events in play. You access a full list of sports separately.

After selecting your sport, the current and upcoming pro league matches are displayed. Navigation options are available for the divisions, leagues, and conferences (sport-specific). You can also access collegiate matches this way.

You’ll see the teams with the single match bets and lines displayed. These show the totals, point spreads, and moneyline odds. Tap on these and you can add them to your bet slip. For more betting options, tap on the team names or ‘more bets’ link.

The final step involves accessing your betting slip via the menu. This is on the right if you are using the desktop/website version. You can now combine your bets (for example into parlays) – or set the amount and bet single match wagers.

You’ll find your betting history, account, and bonus information and the FAQ via links in the footer of the website or burger menu on the apps.

Different Bets Available on the Barstool Sportsbook Apps

You have a big choice of bets at the new Barstool sportsbooks. Unless you have been a visitor to as Vegas sportsbooks over the years, many of these will be new.

Barstool Apparel Betting

The default view of betting odds at Barstool will be the standard American odds view. This gives you odds in relation to a $100 bet. Note that you don’t have to bet in $100 units – this is used simply to make the odds clear for everyone.

A moneyline bet shows clearly how these odds will work at Barstool. You back a team to win, at odds given by the sportsbook.

For example Team A +450 / Team B -300

In this case, a bet of $100 on Team A would return $450 in profit, plus your stake back. The negative line for Team B shows that you’ll need to bet $300 to win $100 (your stake is also returned). It is normal for strong favorites to have negative lines.

In the case of totals or spreads bets, lines for both teams are often -110. This means you’ll get $100 profit (assuming your bet wins) for every $110 you wager.

Betting lines get more complicated where a draw is possible – for example on international soccer matches.

Here are the bets you can place at Barstool Sportsbooks:

• Moneyline: A single match win bet
• Totals: Combined scores for both teams (you bet under/over)
• Spread: Underdog is given points to even the chances
• Parlays: Bet on multiple teams all to win
• Teasers: Bet on multiple teams with point spreads
• Round Robins: Combinations of parlays on the same slip (boxed bets)
• Futures: Season-long or longer-term wagers
• Period Bets: Bet on the first quarter scores (or other periods)
• Props: Bets on something other than the match outcome, for example, player performances

There are also sport-specific bets to consider. When big events like the Super Bowl or World Series come around, you will find special bets on offer too. Barstool might well tie-in promotions with these, based on the opinions/picks of their presenters.

Sports on Offer at Barstool State Sportsbooks

With Kambi powering their betting apps, Barstool has the best possible access to betting markets and sports from around the world. Domestic sports are covered in depth. Pro leagues, minor leagues, and college games are covered. Plenty of sports outside of the ‘big 4’ will also have betting lines on offer.

Here is the impressive list of sports you’ll be able to bet on at the Barstool sportsbook:

• Football: The NFL is the biggest draw, with minor and college leagues also covered.
• Basketball: Take your pick of NBA, College, or EuroLeague games.
• Baseball: MBL and minor leagues, plus full coverage of the World Series
• Hockey: Both conferences of the NHL are covered plus play-off / Stanley cup.
• Soccer: International focused coverage, including EPL, Champions League, World Cup as well as MLS
• Tennis: majors and the more regular smaller tournaments from around the world
• Golf: PGA and Masters tours, Ryder Cup, and many smaller tournaments
• Motor Sport: Formula 1, NASCAR, and IndyCar.
• Combat Sports: MMA and Boxing
• Rugby: Domestic and international matches
• Cricket: Leagues from around the world and international tests / 20-20 games
• Country Specific Sports: These include Gaelic games and Aussie Rules

If it is allowed in your state, Barstool may also cover eSports betting.

Banking Options at Barstool Sportsbooks Apps

Barstool Sportsbook offers a variety of different banking options so that each of their customers can find a safe and secure transaction platform that they are comfortable with using.

Barstool Betting App

Here are the different deposit options available for the sportsbook:

• Online banking
• Debit or Credit card
• ACH/eCheck
• Wire Transfer
• PayNearMe
• PayPal
• Barstool Sportsbook Play+

Here are the different withdraw options available for the sportsbook:

• Online banking
• ACH/eCheck
• Check
• PayPal
• Barstool Sportsbook Play+

About the Barstool Brand

This brand is a media giant in the world of sports. They moved from a paper magazine to an online site back in 2007 – and have grown massively since then. There is much more than just sports covered on their site. They mix this with a fresh take on celebrity gossip and pop culture news. The current Barstool Sports app is a free to play model, which uses picks contests as a basis. This is not the same as the full sports betting apps covered here.

Penn National owns and operates multiple casino resorts. In 2020, they bought 36% of Barstool for a staggering $163 million. The deal includes a clause to buy the remaining stake within 3 years. The huge coverage and brand recognition among sports fans make this a solid choice. Barstool retail and online sportsbooks are expected to open in multiple states by August of 2020.

Wrapping Up: Barstool Sportsbooks Review

The newest media/casino operator tie-up will see Barstool launching sports betting apps in multiple states, with Pennsylvania being the first. Penn National operates casinos all over the country – including well-known properties in states which have regulated online sports betting.

Barstool Betting App Michigan

The two-time benefits of a $10 no deposit bonus and a risk free bet of 100% of up to $500 are sure to put you on the right track with this platform. Plus, with Kambi powering the platform, the range of sports to bet on, ways to bet and deposit methods are sure to remain top quality.