Bally Bet Closes Operations Until its Upgraded Relaunch with Developer Kambi

Article ByDavid Weir

June 23, 2023

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Posted in: US Sports Betting News, US Gambling News

Bally Bet, the online sportsbook provided by US-based casino operator Bally’s Corporation, is closing for a remodel and upgrade.

Sports betting platform developer Kambi will be taking over from Bally’s previous in-house team. Kambi has contracts across the legal US sports betting industry, including such big-name operators as DraftKings, Penn National’s Barstool, and Rush Street Interactive’s Bet Rivers.

The Bally’s platform is no longer accepting wagers as of June 22. Players will have until June 30 to withdraw all remaining funds in their Bally Bet accounts. Accounts will then close. Any leftover cash after that period will be sent to owners by postal check.

The app is set to relaunch before the end of 2023. Bally Bet is currently available in Arizona, New York, Indiana, and Iowa.

Arizona players will be able to continue using Bally Bet as is until the launch of the new version.

“Over the next few months, we will be working hard to elevate your betting experience,” Bally Bet said in a statement.

“We are grateful for your loyalty and look forward to unveiling our enhanced online sportsbook upon our return later this year.”

Related: Our expert guide to the best sports betting apps for US players

Reduce Costs and Drive Engagement

Bally’s Corporation and Kambi announced their new sportsbook deal in early May.

The operator also announced a separate deal with European online casino services provider White Hat Gaming. White Hat will develop player account management and responsible gambling solutions for Bally Bet.

“Kambi provides an award-winning sportsbook that delivers unrivaled sports betting entertainment,” said Bally’s Corporation CEO Robeson Reeves.

“By incorporating that with White Hat’s PAM platform solution, as well as our geographic reach, customer base, and marketing prowess, Bally’s will be optimally positioned to achieve significant scale and capture substantial market share in the global gaming market.”

Bally’s Corporation will be looking to Kambi’s proven track record to “reduce fixed costs and drive engagement”, according to the statement.

Struggling Sportsbook

Bally Bet has failed to gain much traction in legal US sports betting markets so far. It has consistently been the bottom operator in terms of revenues in most states it operates in.

Despite launching in one of the US’ biggest markets — New York, in July 2022 — Bally Bet made just $173 thousand in revenues in May. However, that is an improvement on February’s results, where it made just $18,541.

Its nearest New York sports betting competitor, second-to-last Resorts World’s sportsbook, posted more than double Bally Bet’s revenues and total handle in May.

Meanwhile, in Arizona, it claims less than 0.1% of the market share each month.

Early in 2023, Bally Bet also closed the daily fantasy sports app, Monkey Knife Fight, that it bought for $90 million in 2021.

Relaunch This Year

Bally Bet will retain the same branding when it relaunches. Should the relaunch go well, Bally’s Corporation has also negotiated the option to license some of Kambi’s proprietary source code in return for a long-term future agreement.

No official date has yet been given for the relaunch. But when it signed the deal in May, Bally’s said it would happen before the end of 2023.

Existing customers will have to create new accounts after the change, but will be able to take advantage of the new functionality provided by Kambi and White Hat.

Kambi is a separate spin-off company born from Unibet Group, now Kindred Group. First based in Stockholm, Sweden, it now has headquarters on the European island of Malta.

It is one of the most popular B2B sports betting platform providers across the US. Just this week, Kambi helped local partner WarHorse Gaming launch Nebraska’s first retail sportsbook.