DraftKings is a Boston-based betting company and sportsbook operator. Its breakout gains after wagering participation spiked ahead of Sunday’s Super Bowl LVIII. This saw the Kansas City Chiefs defend their title against the Sean Francisco 49ers. Barstool Sports announced a new multiyear betting partnership with DKNG or DraftKings. This was ahead of DraftKing’s Q4 results late Thursday.
Barstool Sports Sunday night is a sports and pop culture media company. It officially announced a new multiyear sports betting partnership with DraftKings.
David Portnoy, the company owner announced in a video statement that they are back to their roots. DraftKings is once again the exclusive betting partner of Barstool Sports.
Although the financial terms were not disclosed, the deal would encompass a traditional marketing partnership. Hence, Barstool promotes DraftKings odds. Furthermore, Barstool would benefit from customers referred to the sportsbook.
Betting app is a venue or platform where people can wager on sports. Barstool declined to lend its brand to a sportsbook or a betting app.
DraftKings would pay Barstool in the low eight figures per year as indicated in recent reports. Despite of this, Barstool was unable to finalize a betting deal until after the Super Bowl. The reason for this is a lockup as part of its recent separation from PENN or Penn Entertainment.
Last summer DIS or Disney-owned ESPN has had a partnership with Penn on a gambling sportsbook. Penn rebranded its Barstool Sportsbook as ESPN bet as part of that deal. It will also use ESPN Bet exclusively. Penn also agreed to pay $1.5 billion cash to ESPN for over 10 years. In addition to his, a $500 million in warrants to buy PENN stock. In exchange for this, it will get exclusive rights to the ESPN Bet trademark in the United States for the next 10 years. ESPN launched on November 14.
