Barstool Sports nears deal with DraftKings in betting stunner
Barstool is on the verge of a new betting partner.
Dave Portnoys Barstool Sports is in advanced talks to work with DraftKings Sportsbook in a marketing capacity, according to Sportico, a stunning development in the sports betting industry.
The deal, which reports suggest has not yet been announced or signed due to Barstools previous contract restrictions with PENN Entertainment, would pay Barstool in the low eight figures per year to host DraftKings odds while also sending customers to the platform.
Barstool will not be lending its name to DraftKings.
PENN bought Barstool from Portnoy and his investors for $388 million, a sale completed in February 2023.
The partnership was a failure, though, as PENN gave Portnoy the company back for $1, eating the $388 million purchase price as a loss before turning around and shoveling out $1.5 billion over 10 years to ESPN for its name.
PENN did report a $850 million write-off as a result of the failed Barstool acquisition.
DraftKings will look to make use of Portnoy and Barstools other talent, such as Dan Big Cat Katz, Frank The Tank and others across their podcast network.
This deal rivals what other media companies achieved through a betting partnership, as Dan Le Batards Meadowlark Media snagged a clean $50 million from DraftKings over three years, while FanDuel and The Ringer extended deal that founder Bill Simmons called a significant investment.
Dan Katz and Dave Portnoy have been at Barstool Sports since the ground floor. Zuffa LLCUpon completion of the deal, Portnoy would be reunited with ex-talent Jared Carrabis, who departed from Barstool for DraftKings in 2022.
If at any point Barstool were to be bought out, PENN would get 50 percent of the sale price as a sort of schmuck-insurance stipulation that the gambling giant implemented when they gave the company back to Portnoy for $1.
How many decks are used in poker?
In most popular poker variants, such as Texas Hold'em and Omaha, a standard deck of 52 playing cards is used. Each deck contains four suits (hearts, diamonds, clubs, and spades) and consists of 13 ranks (Ace, 2 through 10, and the face cards: Jack, Queen, and King).
What is the bonus code for WPT Global Poker 2023?
The best bonus code for WPT Global is WPT777. By entering the bonus code, players will get a welcome bonus 100% up to $1,200 on the first deposit. The minimum deposit is $20.
What is the best WPT Global bonus code?
Use the WPT Global bonus code WPT777 when registering to get a 100% deposit bonus up to $1200 plus a $100 No Deposit poker bonus.
