Bally Bet's Massachusetts Launch & Sports Betting Market Impact

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Transcript

00:00All right, speaking of another state, let's head over to Massachusetts and talk about

00:07the latest for BallyBet.

00:08Last week on the show, Mike, we had, of course, some guest contributors from Legal Sports

00:13Report talking about how BallyBet's launch in July seems to be delayed.

00:18And look, there's some serious questions, I think, just generally speaking, about some

00:22of these operators that are not named FanDuel and DraftKings and BetMGM.

00:28Is BallyBet one of those that we have to wonder what the future lies at this point?

00:31Yeah, Craig, so I agree with you.

00:34I think, you know, BallyBet actually, our Sam McQuillan is on that Massachusetts meeting.

00:39Just minutes ago, BallyBet was approved and will launch in Massachusetts tomorrow.

00:44So that update is here.

00:46BallyBet's the seventh operator in Massachusetts, joins, you know, DraftKings, FanDuel, the

00:51Legacy Casinos, MGM, Caesars, and then the newcomers Fanatics and ESPNBet.

00:55Yeah, BallyBet just really hasn't done much in other states, barely like, you know, 1%

01:00to less than 1% market share and revenue share in the other handful of states it's in.

01:04In New York, it has not done well.

01:07It had rebranded its app and kind of updated its app.

01:09That kept it out of, you know, Massachusetts for, this Massachusetts market's been open

01:12for 16 months already.

01:14So the other operators have had a head start.

01:16We've seen DraftKings and FanDuel pretty much dominate in every state with around, you know,

01:2070% to 80% market share and handle share.

01:22So yeah, I think they're behind the eight ball.

01:25They're certainly, their investors have talked about, you know, get out of this.

01:29Sue Kim, their, you know, CEO, chairman has said, you know, it's good we're offering this.

01:35We're maybe more of a casino brand, but it's good that we can offer this to our customers.

01:38So I guess that's the way they're looking at it.

01:40I don't expect them to make much of a dent.

01:42They have the, you know, deal with Diamond.

01:45That seems like FanDuel is going to take that over.

01:47That transaction's pending.

01:48But yeah, I mean, what's the future for BallyBet?

01:50It doesn't seem that great, but they're going to take a shot here in Massachusetts and we'll

01:54see where it goes.