In a swift move following its split from Penn Entertainment, Barstool Sports has announced a new multiyear sports betting partnership with DraftKings. The revelation came just moments after the conclusion of the Super Bowl, as Barstool owner Dave Portnoy took to Twitter to share the news with fans.
“We’re back to our roots,” declared Portnoy in his post. “DraftKings is once again the exclusive betting partner of Barstool Sports.”
Reports from Sportico last month hinted at an imminent deal between the two entities, emphasizing a traditional marketing partnership. While there won’t be a Barstool-branded sportsbook, the collaboration will see Barstool actively promoting DraftKings’ odds and leveraging referrals to the sportsbook.
Despite the absence of disclosed terms, DraftKings has yet to respond to requests for comment regarding the partnership.
To kick off our @DraftKings partnership we are doing a free to play Free Throw Challenge tomorrow. 100k in prizes. It starts at 5pm est. Here is the link to join.https://t.co/OvRR4CTg7L#DKPartner pic.twitter.com/R8SZu0VRMe
— Dave Portnoy (@stoolpresidente) February 12, 2024
To celebrate the commencement of their alliance, Portnoy revealed plans for a live free throw contest on Monday, accompanied by a DraftKings companion fantasy game offering a total of $100,000 in prizes. This contest, streamed live for fans, marks the inception of a new social media format embraced by Barstool and others.
This development arrives less than a year after Penn Entertainment’s decision to offload Barstool back to Portnoy for a nominal $1 fee. The sale, inclusive of specific non-compete clauses, temporarily restrained Barstool from re-entering the betting sphere until the NFL season concluded.
Barstool’s origins lie in the realm of betting, originating in 2003 as a weekly betting and fantasy pamphlet. Despite a recent hiatus from the betting arena, Portnoy’s announcement subtly referenced a prior partnership between the two companies forged a decade ago.
Barstool Sports has now formally become the official sports betting partner of DraftKings, signifying a recalibration within the sports betting landscape.
“We are back in the gambling business,” stated Portnoy in a subsequent video. “We just formed a partnership with DraftKings. We’re back where we started. Big, huge deal. I don’t have the numbers, lot of zeroes, maybe the biggest deal in the gambling space with a partner. I don’t know.”
This collaboration with DraftKings follows PENN Entertainment’s decision to sever ties with Barstool, opting instead to collaborate with ESPN for the launch of ESPN BET.
