The ref’s fault
Barstools Sports founder Dave Portnoy claims he has quit gambling after losing a “monster bet” on the Buffalo Bills, claiming the NFL is “rigged.”
This appears to be Portnoy’s third time announcing his departure from gambling. This time it was over Sunday’s game between the Buffalo Bills and the Philadelphia Eagles that eventually saw the Eagles win 37-34 in overtime.
Taking to social media, Portnoy said that he “quit gambling.”
It’s not known how much Portnoy bet on the game, but he did mention he placed a “monster bet” on the Buffalo Bills. Portnoy also said: “Ref show in Philly. Goodell took the Eagles.. #nfl rigged,” after the Eagles weren’t whistled when quarterback Josh Allen was tackled in what may have been a horse collar tackle, blaming his loss on NFL commissioner Roger Goodell.
Losing streak
Lately, Portnoy has been making questionable betting decisions. He bet $10,000 that Notre Dame quarterback Sam Hartman would win the Heisman Trophy. This isn’t going to happen.
degenerate gambler my whole life”
Portnoy also threatened the NFL with a $120,000 lawsuit after allegations that the Cincinnati Bengals failed to disclose information over a pre-existing injury relating to Joe Burrow. In 2020, Portnoy described himself as a “degenerate gambler my whole life.”
In a Barstool Radio in 2019, Mike Portnoy said: “Anybody who says my son is exaggerating his gambling issues, I wish he was, but I don’t think he is.”
Portnoy hit out at New York Times reporter Emily Steel last November who claimed he did not grant her request for comments. Painting Steel in an unfavorable light, Portnoy attached the in-depth conversation he had with the reporter.
Full control of Barstool
In August, PENN Entertainment removed Barstool Sportsbook from its portfolio and teamed up with worldwide sports network ESPN to create ESPN Bet, a brand-new sportsbook.
As part of the deal, PENN paid $1.5bn to ESPN to create the new platform. ESPN will also receive $500m in warrants, both paid over the next ten years. Portnoy reacquired 100% of Barstool from PENN for one dollar and agreed to a 50% sell-on clause should he sell Barstool again.
Back in 2020, Barstool was valued at $606m when PENN purchased the remainder of the company that it did not already own. Its stock soared 26% in the hours immediately after the deal was announced. Following the announcement, Portnoy said on X that “the regulated industry is probably not the best place for Barstool Sports and the type of content we make.”