Barstool Sportsbook opens in Michigan today. The book has been killing it in Pennsylvania since it launched. Michigan is now the second state to have the Barstool Sportsbook. Dave Portnoy and his merry band of characters have been dominating the media world for some time now. The introduction of a sportsbook just means more money for them.
Barstool Sportsbook Opens In Michigan Today
Barstool partnered with PENN National Gaming ($PENN) to make this happen. Not only has it allowed Barstool to delve into the gambling world, which has been their backbone since its inception, but it has also made PENN take off which only looks better for other companies. For context, $PENN was listed on the stock market at $4.52 a share during the market crash in March 2020. Since then, it has risen as high as $105.20 a share, mostly due to the partnership with Barstool and the success of Barstool’s sportsbook.
Full-mobile gambling has been creeping around the country with a little over 10 states fully-legalizing the act. However, most of the other states are expected to follow suit sooner rather than later. The Governor of New York, Andrew Cuomo has begun the process of getting sports-gambling legalized in the state. Soon enough, Barstool will have the sportsbook open in New York.
The Opening Promotion is a Good One
Michigan has had legalized gambling for a while now. Getting Barstool in there especially with the history of Detriot sports and the two power five schools Michigan and Michigan State is a power-move that will be profitable for the state. Hopefully, it will be profitable for the people as well.
Say what you want about Portnoy and Barstool, but the opening promotion is the most wholesome I’ve seen from a sportsbook. All first deposits will be matched by PENN and donated to the Barstool Fund which is helping small-businesses that have been decimated by the pandemic. I know I would feel a lot better if I lost a bet, knowing the money is going to a good cause.
To everyone in Michigan happy betting! Take advantage of these offers and hit that slate today.
