The Barstool Sportsbook launched on 15 September and has had immediate and extraordinary success breaking all sorts of records in Pennsylvania. In its first full weekend, Barstool Online Sportsbook took in an astonishing $11 million in sports betting handle in the keystone State.
In the figures released by partner in Pennsylvania, Penn National reported that their 12 000 first time depositors lodged an average deposit of $243. Later in the weekend, data from industry analyst, Sensor Tower showed that the Barstool Sportsbook app had more than 63 000 downloads in its first weekend, peaking on College Football’s Saturday with 23 000 downloads.
That said, it was possibly not a great revenue earner for Barstool with 13 of 14 NFL favourites successful, however, the value of the brand-awareness generated is immeasurable. Accordingly, Penn National stocks jumped 4.5% immediately following Barstool’s opening weekend.
The Opening Weekend Record
Following the 3 day soft launch testing period, the Barstool sports wagering app was officially launched in Pennsylvania on Friday 17 September, right in time for a huge weekend packed with NCAA football, NFL, NBA and US Open Tennis action. The planets aligned and Barstool Sports smashed the records of FanDuel and DraftKings respectively in their first full weekends in the Pennsylvanian sports betting market.
FanDuel’s biggest numbers for customers placing the app on their mobile devices in Pennsylvania is 9000, recorded on NFL opening weekend in 2018, while the daily record for the sportsbook is 19000, set on September 13 this year.
For their part, DraftKings single day high for downloads in Pennsylvania is 15 000, also set this year (on September 10) while the opening weekend for DraftKings in the Keystone State saw the betting app downloaded 4000 times.
Clearly, Barstool is bringing a lot of new customers to sports betting than have ever been present in the Keystone State before. According to leading industry analyst, Thomas Allen;
“Barstool is expanding the market rather than cannibalizing it”.
Why Barstool Could Dominate in PA straight out of the gates
With its popular sports news app, Barstool Sports attracts 66 million monthly active users. It’s a ready-made army of loyal fans with online eyeballs on the cross-marketed odds from the Barstool sports betting app.
44% of Barstool’s nationwide users gamble on sports weekly, making up more than 29 million weekly sports betters. By way of comparison, it would take the entire season for the most popular sports betting league in the nation, the NFL, to reach 33.2 million total sports gamblers, in statistics released by the American Gaming Association.
Barstool’s young and tech savvy male customer base is familiar with betting online and not confronted by it. Sports wagering online is led by the younger generations and is led by men, the two main Barstool Sports News site demographics. Looking ahead into a crystal ball, Barstool’s young male following could allow it to waltz right past FanDuel to become Keystone State’s leading sportsbook even before the NFL season is over.
Even without expensive TV marketing and ads, Barstool was able to break FanDuel’s Pennsylvania state record for most opening weekend sports betting app downloads. Importantly, Pennsylvania is only the start. Barstool is only currently live in Pennsylvania and new states will be added to the Barstool Sportsbook family over the coming few months.
Significantly, whilst online sports wagering is not yet legal across the entire length and breadth of our United States, Barstool reported that its sports betting app was downloaded 180 000 times across the nation on the opening weekend for Pennsylvania. As other states legalize online sports betting, Barstool is prepared to pounce with a ready-made customer base.