Bally Bet Struggles with Launch Delays in Massachusetts

  • 3 months ago
Transcript
00:00Bally Bet, not really off to the best start when sports betting got legal over the last
00:08couple of years.
00:10And now there is some discussion that Massachusetts was going to have Bally Bet, but not going
00:15to have it at least for the time being.
00:17I know that there's been a lot of turbulence with this and the company as well.
00:21You know, naturally, you know, Bally inevitably is not going to be sponsoring these RSNs also
00:26in the future.
00:27So I wonder what the future of the name, by the way, Bally Bet is.
00:31Yeah, Bally Bet has waited over a year to launch in Massachusetts.
00:36So naturally, it pushing back its launch date, again, isn't that surprising.
00:40It had actually planned to launch Bally Bet today, but came out yesterday and told the
00:46Massachusetts Gaming Commission, frankly, it needs more time to get things straight.
00:50And it's now going to plan to launch sometime in July.
00:53The commission said that there's one outstanding issue to resolve.
00:57And it'd be surprising at this rate if they had much, if any success in the Bay State,
01:01considering it'll be about 16 months since the other sports books have launched.
01:05People are getting plenty of action elsewhere in Massachusetts.
01:09You wonder what the incentive to join a book like Bally Bet, which, again, like you said,
01:13doesn't have the greatest reputation and has been marred by a myriad of problems.
01:17They're now on version 3.0 of their product after writing off about three billion or trying
01:23to write off about three billion dollars in acquisitions over the last couple of years.
01:27It resulted in less than one percent market share across the country.
01:31So when it launched the sports betting app last fall, it was offline in several states
01:37for a couple of months, obviously causing people to get off the app and lose more customers
01:43there. And they went over to third party technology, which is the opposite of what most
01:47successful sports books do.
01:49We've seen them go on to their own technology.
01:51And, yeah, Bally Bet is facing the whole ordeal with losing Bally Sports as well.
01:57And they are currently exploring a sale from one of their higher ups has offered to buy
02:02the company and suggested that they get out of sports betting altogether.
02:06We've seen smaller apps like Winbet and Better not survive in Massachusetts.
02:10So you have to think at this point, why are they even launching in Massachusetts if they
02:14can't even really do it on time?
02:21Yeah, I mean, I don't know.
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