When New York State requested applicants for mobile sportsbooks, the gaming commission accepted nine. Of those nine, only Bally Bet has yet to sign on, but that could happen by July 1, according to PlayNY. Bally’s had no issue with taking its time, delaying entry, and avoiding the crazed promotions the other sportsbooks engaged in.
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.
“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,” Bally’s chairman Soo Kim told CNBC in late January. “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 agreed during a May 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.
Since the January 8 launch, FanDuel, DraftKings, Caesars and BetMGM have combined for over 90 percent of the market share and revenue share, not leaving much room for anyone else.
If Bally’s doesn’t offer significant promotions, it will be tough to convince bettors to leave their existing sportsbook. At the very least, however, Bally’s will be up and running for the first full NFL season featuring legal New York online sportsbooks.
