Barstool and DraftKings Join Forces Following Super Bowl Collaboration

Barstool Sports and DraftKings Announce New Partnership After Super Bowl

Popular digital media platform Barstool Sports has revealed a long-term partnership with sports betting giant DraftKings immediately following the Super Bowl. The announcement came less than an hour after the conclusion of the game between the Kansas City Chiefs and the San Francisco 49ers. This partnership marks a significant move for Barstool Sports, as it comes after the expiration of a prohibition clause from the company’s former sports betting agreement with Penn Entertainment, which was set to end at the conclusion of the 2023/24 NFL season.

With the prohibition clause out of the way, Barstool Sports is now eligible to enter into a partnership with DraftKings. The owner of Barstool Sports, Dave Portnoy, made the announcement on social media, stating “We’re back to our roots. [DraftKings] is once again the exclusive betting partner of Barstool Sports.” As part of the deal, Barstool Sports will not be launching its own sports betting brand but rather promoting DraftKings’ wagering operations and ensuring smooth information flow between customers and the sportsbook. DraftKings Chief Marketing Officer, Stephanie Sherman, commented on the partnership, stating “DraftKings has a portfolio of advertising deals and our exclusive agreement with Barstool represents another valuable, high-reach addition to our marketing mix.”

The partnership announcement was accompanied by a live free throw contest with a $100,000 prize pool to mark the beginning of the collaboration between the two companies. The engaging contest was held in a popular social media format and was streamed live, with the prize pool increasing according to the number of viewers. This partnership comes after Penn Entertainment acquired a 100% stake in Barstool for around $551 million and subsequently sold it back to Portnoy for just $1 in August 2023, following the failure of Penn’s plans to launch a Barstool-branded sportsbook.

Although the sale back included a clause preventing Barstool from partnering with sports betting operators before the end of the latest NFL season, the media company has significant experience in the betting market. Portnoy referenced a partnership with DraftKings forged a decade ago, which is set to be reinstated on February 11, 2024. The collaboration between Barstool Sports and DraftKings represents a new multi-year promotion deal, with the specific details yet to be announced. It is reported that DraftKings invested $1.19 billion in sales and marketing activities in fiscal 2022, signifying promising prospects for the partnership and Barstool Sports’ future endeavors in the next NFL season.