- Barstool Sportsbook launched in Pennsylvania in September and already managed to take a notable cut of the market.
- The Barstool Sportsbook managed to take 7.2% of the total online betting handle in the state.
- FanDuel lost most of its market share to Barstool.
HARRISBURG, Penn. – Barstool Sports mobile betting app Barstool Sportsbook has managed to secure its position as a market leader in Pennsylvania.
In just a few short weeks, Barstool managed to take a major chunk of the online betting market in the Keystone State.
FanDuel Sportsbook was the biggest casualty of Barstool’s success as the newly launched sportsbook took the most share from FanDuel.
Barstool Big Pennsylvania Launch
The Pennsylvania sports betting market managed to see record-breaking betting activity in September, and Barstool Sports benefited greatly from the boom.
The Barstool Sportsbook app launched on September 18, and in the few short weeks of being active, the sportsbook managed to take 7.2% of the total online sports betting handle. Sports bettors in the Keystone state clearly embraced the new sportsbook.
The biggest hit went to FanDuel, whose shares declined by 440 basis points in September compared to August.
Barstool did bring in newcomers with a $500 risk-free wager on sign up. This could be one of the key reasons why so many Pennsylvania sports bettors followed suit.
A total of 7.2% of Barstool Sportsbook’s own handle came from promotional credits. This is compared to just 2.6% that the rest of the sports betting market accumulated for their own apps.
This could be a good glimpse at how Barstool will fare in other sports betting markets upon launch. The sportsbook has well-known brand recognition in the sporting world and it has clearly translated with sports bettors embracing Barstool in the betting arena.
Barstool headquarters are in Pennsylvania, so it makes sense that the sportsbook would want to launch in its home state. The plan is to begin expanding in 2021.
The sportsbook will be looking to expand into the New Jersey market next, as the Garden State currently sits as the leader in mobile sports betting. Barstool will be entering another booming market with greater competition so it may serve as a better metric to see where the app site in the general industry.
If Pennsylvania is an example, we can infer that Barstool will have a similar impact on the New Jersey market and other sports betting markets moving forward. It seems a new king of the legal sports betting market may have arrived.
Coming from a background in narrative-based writing, Giovanni strives to write stories that will keep the reader engaged. Although he does pride himself in being accurate, how the story is told is also very important to him. When he’s not keeping readers up to date on sports betting laws and legislation, you can find him writing and recording music, playing videogames, or engaged in heated sports debates with his friends.