Barstool Sportsbook is live in Tennessee, and this is major news in the sports betting industry. Barstool Sportsbook has been a major competitor in the sports betting industry since launching because of the media company behind the book.
Dave Portnoy has built an empire, and this mentality has translated into sports wagering. The company’s Twitter account that the platform had launched on Wednesday just before 10:30 AM local time. This is the eighth state where Barstool Sportsbook is available to users.
Launching in Tennessee
The Tennessee Education Lottery, which runs sports gambling in the state, approved Penn National at a special meeting earlier this week. Penn National is the company behind Barstool Sportsbook.
Wednesday’s launch means that sports betting will be live in Tennessee for the beginning of the season. The regular season begins on Thursday night, with the Buccaneers and the Cowboys in prime time. Bettors all over the United States will take a chance in this game, so Barstool could not have gone live at a better time.
Barstool Sportsbook should launch in multiple jurisdictions during football season, including Colorado, New Jersey, and Virginia. The site went live in Arizona on Thursday as the industry was just implemented.
Penn National CEO Jay Snowden spoke about expanding Barstool back in May after early success from the platform. His vision is now turning into a reality.
He said, “As the only gaming operator with a fully integrated sports media and entertainment partner, we have the unique ability to attract new and existing Penn National customers to enjoy our retail and interactive gaming, sports betting, and entertainment offerings, as evidenced by our performance to-date in Illinois, Michigan and Pennsylvania. We are eager to leverage the building momentum for the Barstool Sportsbook app with the additional launches we have planned for 2021.”
Barstool Planning to Dominate Tennessee
Barstool is offering a 2 for 1 bonus to new users in the state that’s worth $1,000. If a player’s first bet loses, they can get an equal free bet up to $1,000. New users will also receive $10 for signing up for the book and $5 for customizing their player profile.
You do not need to deposit any money for the two smaller bonuses. At the time of the launch, there were no specific bonuses to TN. Nevertheless, Barstool has been successful by captivating fan bases, so these will likely be added in the future.
Barstool is offering backed bets in all states, which have boosted odds. These are sponsored by the media personalities in the company like Portnoy, Big Cat, and PFT.
This will be the first time sportsbooks are available in TN for a whole football season. Sports betting went live in November of 2020, so half the season was missed for betting. Yet, the industry has performed very well over its lifespan.
The state has collected $1.56 billion in bets and generated $135.6 million in sports betting revenue since the beginning. With a whole football season, the state could become a major competitor in the legal industry.
Numbers were slightly down in the summer, but things will improve massively moving forward.