BarStool Sports Enters Sports Betting Market...Sort Of

The popular media outlet Barstool Sports has entered the sports betting market via its new extended brand BarstoolBets.  The model is mostly reliant on contest prizes.

An example of such a contest includes the Thursday Night Special - TEN @ JAX featuring a $1000 cash prize.  The player with the most points at the end of the day wins.

The concept could be classified as a sort of fantasy sports hybrid, not quite crossing the line into sports betting per se.

Barstool's founder, Dave Portnoy, and CEO, Erika Nardini, broke down the strategy for Business Insider on Thursday.  Both made it clear they do not aspire to become a sportsbook along the lines of a FoxBet.

"We are trying to build really this huge database throughout the country that we know, these are people who know how to gamble," Portnoy told Business Insider. "When the new states turn on and make it legal, we think we'll have a powerful database of people who enjoy doing this type of behavior."

Portnoy launched Barstool in 2003 as a print newsletter for gamblers and fantasy sports players before later morphing into a more general-audience sports brand power house.  The company once thrived off of ads from offshore sportsbooks prior to a US Government crackdown.  Portnoy recently made headlines following a well publicized fued with offshore sportsbook brand MyBookie.

Chalkline Sports Inc. provides BarStool Bets with its Free-to-Play (F2P) Sports Betting Game platform.

Daniel Kustelski, CEO of Chalkline Sports, Inc., tells Gambling911.com his company is currently working with Resorts in AC and Churchill Downs as well.

"Hear about it (Barstool Bets) and other interesting gaming industry updates at our monthly webinar on Thursday," he advised.  

The 12 pm EST webinar will discuss the following topics:

- Understand bettor behavior similarities and difference in the states that have gone live

- Measure the impact sportsbetting is making on the gaming industry and how it will affect your State

- Hear about the tactics media, brands, sportsbooks and casinos are using to engage with sportsbettors prior to and after state legalization

- Create a plan/budget now to separate your activities to maximize marketing ROI

- Aaron Goldstein, Gambling911.com