Bally Bet Returns to New York Market with Improved Platform

Rhode Island’s Bally Bet reenters the top sports betting market in the U.S. after a five-month hiatus, launching its platform in New York this week. The relaunch is supported by leading technology providers Kambi Group and White Hat Gaming as Bally Bet aims to compete with other top sports betting apps in the industry.

Bally Bet had a difficult time gaining momentum in the competitive sports betting market of New York. In October alone, New York reported over $2 billion in wagering activity. Prior to temporarily closing for technology upgrades, Bally Bet only managed to generate $16 million in bets within a year.

Enhanced sports betting product sought

Bally Bet, facing challenges in capturing a significant market share in the states where it operates, including New York, made the decision to shift away from its internal technology platform. Instead, the company opted to partner with established technology providers that have successfully operated within the American gaming industry and have strong relationships with top sports betting providers in the country. This change has allowed Bally Bet to once again be included in the selection of sports betting apps available in New York.

Kambi and White Hat Gaming technology are collaborating to revamp the mobile and retail wings of the Bally Bet sports betting platform, as well as improve various features on the Bally Bet app. White Hat Gaming will be supplying Bally’s with its advanced player account management (PAM) platform, a feature that distinguishes White Hat from other technology providers. Users can look forward to accessing NY sportsbook promotions on the app.

Other features of the technology switch

Bally Bet will receive marketing support, customer support, payment options, a cashier system, and customer protection features through their partnership with White Hat Gaming. These services have been crucial for White Hat’s other sportsbook partnerships and will be available to Bally Bet users in the New York market.

Bally Bet will receive the Traveling Wallet functionality from White Hat, an award-winning innovative feature that enables users to access their app, account balance, bonuses, and loyalty program in up to six states where Bally Bet is available.

Users who sign up with Bally Bet New York can easily access the company’s product in six other states without needing to register again in those areas, all thanks to the player account management feature provided by White Hat Gaming on the New York sports betting app.

Bally Bet users in Indiana and Iowa now have access to the same features.

Looking to boost profits

Bally’s Corporation experienced a slightly disappointing third quarter of its fiscal year due to pausing operations in three crucial states. Despite this, the company reported $632.5 million in revenue for Q3, showing a 9.4% year-over-year increase. The interactive division of the business performed exceptionally well, with revenues increasing from $22.1 million in the previous year’s Q3 to $29.5 million in the most recent quarter.

During its fiscal year third quarter, Bally’s incurred a net loss of $61.8 million, while the company generated $593 million in revenues in the same reporting period in 2022.

Bally’s has partnered with Kambi and White Hat Gaming in order to boost profits from their interactive division. With the competition in the U.S. market growing and rivals offering superior sports betting products, Bally’s recognized the need for a change and found it through their new collaboration with Kambi and White Hat Gaming.

Unfortunately, the company had to close its operations in several important states, such as New York, during the crucial NFL season in order to compete with its rivals.