Bally's Launches Mobile Sports Betting in Massachusetts

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00:00Now, a story I did not have on the bingo card today, Bally Bet, who I thought was pulling

00:08back from a lot of their sports betting entities.

00:11I guess things are so good in Massachusetts, Matthew, is the only thing that I can think

00:14of that they've decided to ramp up their mobile sports betting there.

00:19I did not think that they were a big part of the sports betting landscape in the future.

00:24Yeah, you know what, Craig?

00:26I don't know that anybody actually thought that Bally's was going to launch in Massachusetts.

00:32As you know, the mobile market went live last March there, and Bally's has just been kind

00:38of sitting on their hands.

00:39They have a license, but look, Bally's has had a lot going on, right?

00:43They tried to build up their sports betting product from the bottom, and they failed.

00:48They had to write a lot of it off.

00:49They lost some money because of it, and it was a headache for Bally's.

00:53They had to pull back.

00:54Now they're partnered with Camby.

00:56They're doing things a little bit more simple on their side, but jumping into Massachusetts

01:01is a head-scratcher because, look, Massachusetts is hot, but last month DraftKings did over

01:10half of the business.

01:11They took over half of the dollar's bet, and FanDuel's right there was like another 30%.

01:16You look at Massachusetts, and it's where Better has pulled out.

01:19It's where WinBet has pulled out, and it's where Betway decided against launching.

01:24You have to wonder why is Bally's doing this?

01:27Why do they want to basically pay a million dollars a year to go into Massachusetts and

01:31not get a whole lot of share?

01:33I think what we have to look at, Craig, is this is just a marketing play for them because

01:38right next door in Rhode Island, they opened up online casinos.

01:43What they're able to do is they're going to be able to cross-sell these players that they

01:46get in their database saying, hey, you only live 40 miles from the casino.

01:50Why don't you come down?

01:53It's not like this is something that sports bettors are not used to, Craig, because if

01:58you remember, before Massachusetts went live, if you're in that Boston, South Boston region,

02:04you were going to Rhode Island, and before you were just driving to the state line to

02:09make your account and bet, you had to go to the casino before that and actually physically

02:15make your account, and then you were able to bet online.

02:18Going to Rhode Island to gamble is nothing new to people in Massachusetts.

02:22If you want to gamble, maybe the Rhode Island line is going to be closer than driving to

02:28MGM Springfield, which is in the center of the state, or Encore Boston.

02:35If you don't have to drive through downtown Boston, I would suggest you don't.

02:41It's an interesting play, what they're doing here, but, Craig, I can't see any reason other

02:48than trying to boost the Rhode Island online casino business than why they would go in

02:52to Massachusetts, because Massachusetts is not friendly for any of the big names right

02:58now when you think about the death grip that DraftKings and FanDuel have on the market,

03:05and especially for a smaller company, Bally's goes into markets and may not even get a full

03:10percent of the handle, so it's going to be interesting to see how Bally's does with this.

03:17They keep saying that they're righting their wrongs and they're making better decisions

03:20now and everything, and we'll see if this pays off.

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