It has been a quick transition for Bally’s Corporation, once considered a middling name in the US legal sports betting industry to become one with immense aspirations of becoming a Heavyweight in the US scene. The company’s latest move is a beta launch of their mobile Bally Bet brand in the state of Colorado.
Bally’s certainly hasn’t been shy about their desire to climb the ranks of legal sports betting providers. They have been busy acquiring companies to help them establish an all-encompassing betting brand, and they are about to see if one of their purchases, Bet.Works is about to pay off as they strive to provide ““betting options for all of the biggest sports, exclusive in-app parlay games and integrated social features.”
“We are excited to provide sports fans across Colorado with a new and innovative way to engage with their favorite sports and teams and are confident that the Bally Bet sportsbook will provide those fans with the same unique and first-in-class experience that our loyal gaming customers have come to expect from our three Colorado casinos,” Bally’s senior vice president for strategy and interactive Adi Dhandhania said.
About that Bet.Works connection
Bally’s Corporation saw a need to bring in a company with experience creating and developing the technology needed to launch and maintain a high-end legal sports betting platform. Bet.Works, which already has a presence in some of the biggest betting states in the nation was brought in, thanks to a $125 million acquisition, to be that regulated sportsbook technology platform Bally’s needed to put the Bally’s name on the broader US legal sports betting map.
Bet.Works will immediately provide Bally’s Corp. the opportunity to take real-money bets thanks to a broad menu of options on the Bally Bet site that went live last week in Colorado.
“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. Today’s launch is just the beginning of what Bally’s has in store for the mobile sportsbook market,” said David Wang, the founder and CEO of Bet.Works, and future CEO of the Bally’s interactive division.
Building in Bally’s Rewards
Fan engagement and retention is a big part of the competitive US legal sports betting scene. Development of new and exciting perks for potential and existing customers has gained focus and Bally’s is about to take advantage with its Bally’s Rewards program.
Customers of the Bally Bet brand will be able to earn points simply by placing bets on the site and use those points for perks for gaming, dining, retail and other amenities at Bally’s Golden Gates, Golden Gulch and Mardi Gras casinos located in Black Hawk, Colorado.
“By integrating Bally Bet with Bally Rewards, we will provide sports and gaming enthusiasts with an unmatched betting experience,” Adi Dhandhania said.
While not yet fully developed Bally Rewards is close to launch and hopes are that it gives the company a leg up in the competitive market.
Building the Brand
Bally’s has smartly chosen the acquisition route for their path toward legal sports betting provider relevance. The Bet.Works purchase is front-and-center right now but there are others that should pay off in the not-too-distant future.
Bally’s has acquired properties, a Broadcasting company and a DFS provider the last six or so months as well as a pair of other under-the-radar moves that will only strengthen their brand going forward.
Perhaps the biggest was their purchase of Sinclair Broadcasting which gives them 21 regional Fox sports networks as well as the other 190 Sinclair-owned stations across the country. They will promote the Bally’s brand and the 21 Fox stations will be rebranded under the Bally’s name.
Bally’s also purchased Monkey Knife Fight, America’s third largest DFS provider in a $90 million deal, they purchased Casino KC, Casino Vicksburg, Bally’s Atlantic City and Eldorado Shreveport, they bought out UK-based Gamesys Group Plc. in a £2bn deal and paid $40 million to take over free-to-play games business SportCaller in attempts to create an all-encompassing, complete betting entity.
Growth a Certainty
The Bally Bet beta launch in Colorado is just the beginning of some pretty aggressive expansion plans. The hope is to be live in three more states by the end of 2021 with, Iowa and New Jersey all rumored to be landing spots for the brand.
“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.”
So, get used to seeing the Bally’s name, not just within the legal sports betting space but also the broadcasting world. It has been an aggressive march toward relevance for the previously middling betting brand but one that should pay off as the US legal sports betting industry explodes
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