The Illinois Gaming Board recently approved Penn National Gaming to provide online sports betting services in the state. With this certification, Penn National will launch its Barstool Sportsbook brand online. The sportsbook is offered via desktop and mobile, with both Android and iOS capabilities. The new service will be live in Illinois on March 11 at 12:00 PM CST.
CEO and President of Penn National, Jay Snowden, stated in a press release that the company is extremely excited to see Barstool launch in Illinois. The app will begin services as the college basketball regular season finishes up and March Madness begins.
Snowden pointed out that Dan ‘Big Cat’ Katz started Barstool Chicago back in 2012. He has worked with many individuals in the industry to create a large following across the state, including a key Chicago Barstool personality White Sox Dave. Bettors in the state will now be able to engage with these well-known personalities via the online sportsbook.
Promotional Betting Options
Per the company’s press release, Penn National plans to offer several promotional betting opportunities via the Barstool Sportsbook app with its Illinois launch. Boosted odds will be offered on the White Sox and Cubs to win the upcoming World Series, as well as a risk-free $1,000 bet after the first deposit.
As March Madness begins, the app will also include several options for betting on tournament games. There will be plenty of opportunity for sports betting on the college basketball games this month, along with other wagering options on a variety of sports.
Expanding the Barstool Sports Betting Brand
Penn National has worked hard to expand the Barstool Sports brand after acquiring it in early 2020. The company paid $163 million, with $135 million paid in cash and $28 million in stock to receive a 36% stake in the company. The ownership stake will increase to 50% in three years, and options are there to increase the ownership up to 100% over time.
Kambi and White Hat Gaming have provided risk management and platform services for Barstool, with Penn National moving into other US areas over the past few months. Michigan and Pennsylvania already offer the sportsbook, and the company continues to move into new states as legislation allows.
“On behalf of the Penn Interactive team and our partners at Barstool Sports, I want to thank the IGB for their approval of our online sports betting application,” Snowden said in the press release. “Alongside our risk management and platform providers, Kambi and White Hat Gaming, we have developed an online sports betting app which is attracting new and existing Penn National customers as evidenced by our performance to-date in Michigan and Pennsylvania. We are eager to leverage the building momentum for the Barstool Sportsbook app with our launch in Illinois and the additional launches we have planned for 2021.”
Last month, the brand gained access to New York State via a reciprocal deal, which provides a huge market opportunity if New York acts on mobile sports betting. Penn National signed a 20-year strategic partnership with Rush Street Interactive, with its subsidiary Penn Interactive gaining access to a second skin in the mobile sports betting and online casino market.
The company will also need to complete regulatory approvals before moving forward.