Since the Professional and Amateur Sports Protection Act was repealed in 2018, New Jersey has become the sports betting capital of the United States. New Jersey is filled with top-tier operators, including DraftKings, FanDuel, and Caesars Sportsbook.
Operators continue to be added to the state’s market, and Barstool Sportsbook is the latest to join New Jersey. New Jersey marks the seventh state for Barstool with plans to continue growing in the future.
Details of the launch
Barstool Sportsbook quietly launched in New Jersey, but the sportsbook has been booming since going live. Barstool, which Penn National owns, is the 19th online platform in the state.
Penn National partnered with Freehold Raceway to secure market access for Barstool Sportsbook. This is because Freehold is jointly owned by Penn National and Greenwood Racing, making the licensing process simple.
Barstool Sportsbook is now available through a mobile app and an internet browser. However, the sportsbook is currently undergoing a soft launch, so only 500 people can utilize the platform. The company wanted to test the product before football season when a full launch is conducted.
The formal launch during football season will be corresponded by more marketing efforts. Barstool is expected to be a competitive platform in the state when the official launch occurs. Penn National has been able to grow the sportsbook through the Barstool brand.
Dave Portnoy’s media superstars are commonplace throughout the app. Barstool Sports also advertises the app through their shows and blogs, which has attracted the younger demographic of bettors.
New Jersey is the third state where Barstool Sportsbook has launched this month. The other two states were Colorado and Virginia.
Other locations for Barstool Sportsbook
NFL season is the primary betting time on the calendar, and Penn National has two more states to target before kickoff. Penn National aims to go live in Tennessee and Arizona before September 9, when the Buccaneers host the Cowboys.
Tennessee does not require tethered licenses, so Penn National did not have to partner with any landlocked casino. Barstool secured market access in Arizona through a deal with Phoenix Raceway.
There is a chance that Penn National has difficulty launching in TN by football season. The Tennessee Education Lottery has not approved the sportsbook, and the group met on Wednesday.
The TEL will regulate more sportsbooks before the end of 2021. Nevertheless, Barstool is in a difficult predicament because their next meeting is not scheduled until November 16. This is nearly bowl season for FBS and the second half of the NFL campaign.
A special meeting can be scheduled before football season. This is possible if there is enough interest amongst sportsbooks for a September 9 launch, but there is no current plan.
In the future, Penn National will be looking to go live in New York. The New Jersey launch should attract New York bettors when the site launches in the state. Penn National is one of six applications that are being examined in New York. The future is bright for Barstool Sportsbook.