A new sports betting application is now available, as Bally Bet New York joined the largest market in the United States. The app is available to download now from Google Play and the iPhone App Store.
New York marks the fifth state where Bally Bet is available, joining Colorado, Indiana, Iowa and Virginia. Bally Bet is owned by Bally’s Corporation, which also operates several casino/resort properties across the United States, a racetrack, as well as Bally’s Interactive, which is responsible for online gaming products.
In May, New York brought in a handful of total sportsbooks of over $1.2 billion. — the highest number in the country. Online sports betting has been operational in the state since January, but New York has quickly risen to the top spot in placed bets.
A promo code is coming soon for the Bally Bet mobile app in New York. We’ll have an exclusive offer code here at New York Sports Day in the coming days.
Why Bally Bet is joining the NY Sports Betting Party late
When New York launched online sports betting on January 8, 2022, the floodgates opened in market-ready condition. In the first partial month of operation, New York took in more than $1.6 billion in total sports bets, boosted by Super Bowl bets. Every month since the state has surpassed $1 billion in total management, and the Empire State is the fifth state to surpass $8 billion in management all-time, hitting that mark before the end of the first year legal online sports betting.
Such betting action resulted in New York receiving nearly $300 million in tax revenue.
However, on January 8, Bally Bet was not part of the coming out party in New York. The reasons are obscure. Perhaps it was a strategic decision by Bally’s to time its launch to allow some dust to clear from the first frantic months of activity. Sportsbooks have spent large sums to acquire customers in New York. The $25 million license fee was a significant investment and much larger than in other states.
The competition has been so fierce and costly that last month the CEO of BetMGM called the cost of doing business in the state with a 51% tax rate “unsustainable.” In May, BetMGM revealed that it had suspended spending on promotions and bonuses to acquire new customers. The market can be about survival by attrition. A February article in the New York Post claims that sports betting lost $200 million in the first six weeks of operation in New York.
Bally’s decision to enter New York nearly six months after market launch may have been due to technical delays, or it could have been to save the company the cost of competing in a furious burst of activity. at first.
FanDuel is the market leader in New York, with Caesars, DraftKings, BetMGM, PointsBet and BetRivers also in sports betting. With so many bettors and so much revenue on the line, it will be interesting to see how the competition plays out in what is now the most lucrative state in the country.
How Bally Bet Compares to Other New York Sports Betting Apps
Bally Bet has been deliberate in entering new markets with its sports betting app. So far, this strategy has led to a smaller market share, but it has also given the company time to massage its app and service offerings.
Bookmaker Bally Bet is connected to the popular Bally Rewards program and offers a ‘Trophy System’ which offers account holders free bets to record consecutive betting winnings. Bally Bet can also be used via a web browser.
Bally Bet has a rating of 2.4 stars (out of 5) on iOS and 3.7 out of 5 on Google Play Store.