Colorado Gets Industry’s First Glimpse Of Bally Bet

Posted on May 25, 2021
Bally Bet

Colorado will get the sports betting industry’s first look at Bally Bet.

On Monday, Bally’s Corp. announced a beta launch of Bally Bet into the Colorado sports betting landscape.

A release from the company said Bally Bet will launch in three more markets in 2021. The launch represents a culmination of a flurry of activity in the rapidly evolving sports betting industry by Bally’s, all without its flagship sportsbook.

First look at Bally Bet

The launch will not be widely marketed, but instead used to test and refine the new product. Bally’s plans to use the learnings to enhance the sportsbook app in the coming weeks.

The beta launch will include: “betting options for all of the biggest sports, exclusive in-app parlay games and integrated social features.”

Bettors on the platform will also earn points to redeem at the company’s three Colorado casinos and a yet-to-be-unveiled national rewards program.

Bally Bet future launches

Colorado was among the likely candidates for the first state to see the Bally Bet app.

Other states likely to see the app soon include Indiana, Iowa and New Jersey. Those are states the app’s developer, Bet.Works, is currently active.

“We want to make sure we’ll building it properly for the long term,” Bally’s EVP of Strategy and Operations Marc Crisafulli said during a March earnings call. “So we have to see how those initial launches go and then we’ll start to layer in additional states beyond that. So you can expect a pretty ambitious program through 2022 as we bring all of those assets online.”

Bet.Works acquisition

Bally’s is in the process of acquiring Bet.Works. Bally’s announced the $125 million acquisition in November.

Once the deal is complete, Bet.Works CEO David Wang will become the CEO of an interactive division within Bally’s. A technology hub in Rhode Island is slated to open by the end of the year.

“Bally Bet is the culmination of a tremendous amount of hard work by both the Bally’s and Bet.Works teams, and represents a key component of Bally’s long-term growth and diversification strategy,” Wang said. “Today’s launch is just the beginning of what Bally’s has in store for the mobile sportsbook market.”

Big Bally’s marketing push

Bally’s first emerged in November 2020, when Twin River acquired the name and property in Atlantic City.

At the same time, Bally’s made a big splash in the sports broadcast world when it took over the naming rights to the Sinclair Broadcast Group‘s Fox Regional Sports Networks.

The New York Post reported the deal is a 10-year agreement worth $85 millionBally Sports kicked into action March 31. The deal also includes content integration into 190 Sinclair-owned stations.

‘Top-of-funnel’ acquisitions

With the Bally Bet launch in the works, Bally’s worked to build out its customer acquisition funnels.

In January, the company acquired daily fantasy sports company Monkey Knife Fight for up to $90 million in stock. Bally’s then acquired free-to-play provider SportCaller for $40 million in February.

In March, Bally’s Chairman Soo Kim told LSR will remain active in M&A, especially to further transform the company’s technology innovation.

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Pat Evans

Pat Evans is a Las Vegas-based reporter covering sports business. Evans previously worked at Front Office Sports and the Grand Rapids Business Journal. He has authored two books: Grand Rapids Beer and Nevada Beer.

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