Bally Bet will make its long-awaited debut in the MA sports betting market today.
The Massachusetts Gaming Commission approved a certificate of operations for Bally Bet during its Monday meeting, making it the seventh licensed Massachusetts sports betting app. Its planned launch for 11 am comes roughly 16 months after most of the state’s other legal apps.
“Thank you to the commissioners for allowing us to enter your great state and really all the wonderful people from the gaming commission that helped us diligently through this licensing process,” said Brett Calapp, COO of Bally’s Corporation.
“I think the thoroughness and collaboration from your guys’ group was of the highest and most professional level, and as an operator that’s really, really appreciated to have that type of cohesive communication during the licensing journey because it is complex and there’s a lot of moving parts to it and a lot of people involved.”
Now seven MA sports betting apps
As of July 2, the Massachusetts sports betting market includes the following apps:
- BetMGM
- Bally Bet
- Caesars
- DraftKings
- ESPN Bet
- Fanatics
- FanDuel
Betr and WynnBet elected to leave the Commonwealth earlier this year, after amassing 0.1% and 2.9% shares of state handle, respectively. Another operator, Betway, decided against launching in the state.
An eventful year for Bally Bet
It has been a busy last 12 months for Bally Bet, which relaunched using third-party providers last fall after throwing in the towel on billions of dollars of sports betting investments.
Meanwhile, shareholders are waging a battle over ownership and the direction of the company’s online sports betting and gaming business.
Management once heralded the naming rights Bally’s has to 18 local sports channels as an opportunity to “revolutionize” online gaming, but it now stands to lose those as well by the end of the year.
MA sports betting already competitive
Bally Bet could have a hard time acquiring market share in Massachusetts, which is already in its second year of legal sports betting.
DraftKings and FanDuel combine for 80% of online sports wagering handle so far in 2024. In other states like New York, Bally Bet ranks seventh out of nine apps, with less than 1% share of handle.
Management has said Bally Bet will launch in at least two more states by the end of the year.
Rhode Island more of a priority?
The Massachusetts market could be more about cross-selling customers into the Rhode Island iGaming market, where Bally’s is the only operator in town.
Bally’s, which runs the state’s two casinos, launched its Rhode Island iGaming monopoly in March.
The monopoly generated $1.2 million in gross gaming revenue, and CEO Robeson Reeves said the pace of those results accelerated in April.
