Source: Bally Bet Likely To Launch Its NY Sportsbook Next Week

Written By Mike Mazzeo on June 23, 2022
bally bet ny sports betting launch june 2022

Bally Bet Sportsbook will likely launch in NY sometime next week, an industry source told PlayNY.

Bally’s had said in its latest earnings call that it planned to launch its sportsbook in New York by the end of H1, or before July 1.

Once Bally Bet NY is live, all nine approved NY online sportsbooks will finally be up and running in the state.

Legalized online sports betting went live in NY on Jan. 8. Bally’s had repeatedly said it was fine with being delayed. The operator wanted to get its new and improved 2.0 app technology up and running in Arizona before any other state. 

How Bally’s will navigate the NY sports betting market

Bally’s has planned to take a more rational approach in NY regarding marketing and promotional spend against the Empire State’s 51% tax rate. 

Bally’s chairman Soo Kim told CNBC in late January:

“We have a longer-term plan. We think that the current version of sports betting is not a great business. It’s a fine business but not a great business.

“We think that there will be a wave of consolidation that will rationalize promotions but more importantly I think people will just stop competing with free money but people will start competing with product.”

Bally’s CEO Lee Fenton echoed those sentiments during a May 5 earnings call. 

“In New York, we will be cautious as we keep a keen eye on marketing spend and how to navigate a high tax environment in sports betting,” Fenton said.

How much market share can Bally’s gain?

It will seemingly be difficult for Bally’s — even as much a name-brand as it is — to gain meaningful market share and revenue in NY, at least early on. 

Since Jan. 8 launch, FanDuel, DraftKings, Caesars and BetMGM have combined for over 90% of the market share and revenue share, creating a daunting challenge for the smaller sportsbooks in the state. 

Bettors will need a reason to break from their now-established loyalties to online sports betting app brands. If Bally’s isn’t offering significant promotions, it will be tough. At least Bally’s will be up and running for the first full NFL season featuring legal NY online sportsbooks. The 2022 regular season kicks off on Sept. 8.

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Mike Mazzeo

Mike Mazzeo is the Lead Writer for PlayNY, arriving after covering several of New York's professional sports teams in a variety of roles for the past decade. Previously, he served as a beat writer and columnist covering the Brooklyn Nets (ESPN) and New York Yankees (New York Daily News). Mike also covered both the MLB and NBA nationally for Yahoo Sports. In addition, he served as a general assignment reporter for ESPN NewYork.com. He has also had bylines in the New York Times, New York Post, Newsday, Forbes and The Ringer. With PlayNY, Mike brings extensive coverage and unique story angles to what is projected to be one of the biggest and most lucrative online sports betting markets in the country. It's been an arduous and confounding process to get here, but 20 million New Yorkers (many of them die-hards) are now legally able to bet on their favorite sports teams across the state via online and mobile platforms.

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