Bally's Corporation Check Another Box with Bally Bet Launch in Colorado

Bally's Corporation took another step toward increased relevance within the US legal sports betting scene last Monday with the launch of its Bally Bet brand in Colorado. Bally's latest move is a signal to the rest of the booming legal sports betting industry in the US that they are ready to officially take the brand to a whole different level.

Bally’s Corp. has managed to make its fair share of news the last six or so months with a host of moves to create and elevate a betting brand that hopes to rival the other big names within the space. In what has been called a beta launch, the company isn't going with a traditional marketing blitz in Colorado at this point in time. The launch is aimed at providing “betting options for all of the biggest sports, exclusive in-app parlay games and integrated social features.”

Bally’s senior vice president for strategy and interactive Adi Dhandhania said: “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 Corp. and Bet.Works

The Bally Bet launch coincides with one of the more under-the-radar moves that the company has made recently. The $125 million acquisition of US regulated sportsbook technology platform Bet.Works, which hasn't quite been finalized but is in the final stages of completion was a sign that Bally’s was serious about creating a strong online brand.

According to David Wang, the founder and CEO of Bet.Works, and eventual CEO of the Bally's interactive division “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.”

Bet.Works will allow Bally Bet to take real-money bets on a host of sporting events in one of the more reliable sports betting markets, Colorado, with an eye on other markets going forward.

Other Major Bally's Moves

Bally's Bet.Works purchase is the most significant with regard to their anticipated Bally Bet launch in Colorado, but it isn't the only major move the company has made to strengthen their position in the US legal sports betting scene.

In March, Bally's became Authorized Gaming Operator of Major League Baseball (MLB). The company also completed purchases of Casino KC, Casino Vicksburg, Bally’s Atlantic City and Eldorado Shreveport in the second half of 2020 to bolster their presence.

Bally's purchased the third largest DFS provider in the US, Monkey Knife Fight for $90 million and took over operation of Sinclair Broadcasting and its 21 regional Fox sports networks as well as the other 190 Sinclair-owned stations, giving them an expansive and all-encompassing marketing behemoth to support their foray into the mobile betting scene.

Their expansion plans also include a £2bn takeover of the UK-based Gamesys Group Plc. and a $40 million deal to purchase free-to-play games business SportCaller.

Bally's Rewards

With the launch of Bally's Bets comes the opportunity for bettors to earn Bally Rewards which is still in the development process. By making bets through the Bally Bet app, customers will be able to earn points simply by placing bets on the app.

Those points will eventually be redeemable at Bally's properties in Colorado and allow customers to cash in 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.

Bally's hopes to have a broader Rewards Program available nationwide this summer to coincide with their desired expansion plans.

Three More States in the Works

The Bally Bet app is scheduled to launch in at least three more states in 2021. Indiana, Iowa and New Jersey are all rumored to be in the running to be the next Bally Bet destination thanks to the strong ties that those states have with Bet.Works.

“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.”

Bally's Corp. is simple taking advantage of the US legal sports betting goldrush and a beta launch in Colorado will go a log way to determine whether of not they are ready for the lucrative mobile betting app world. If as successful as most think, Bally Bets will become a go-to household name in the broad US market before too long.