Bally Bet is the newest sportsbook on the block in New York but wasted no time in the marketing department. Bally’s Corporation has agreed to become the official sports betting partner of the New York Yankees.
Bally Bet and the Yankees Agree on a Marketing Partnership
Bally Bet is the ninth operator to enter New York and has a lot of work to do to catch up to the other mobile sportsbook operators that had a head start. This is very big news for the operator as Bally Bet has agreed with the New York Yankees to become the official sports betting partner of the team.
Another sportsbook with a similar deal is FanDuel. On the rotating LED panels below the upper deck at Yankee Stadium during Monday night’s game, Bally Bet and DFS acquisition Monkey Knife Fight were advertised. With the agreement, other things were involved in the deal.
These designations include a Daily Fantasy Sports Partner via Monkey Knife Fight, an iGaming Partner via Bally Casino, Official Free-To-Play Gaming Partner via Bally Play, and the Bally’s Casino in Atlantic City, New Jersey, will also become a partner of the New York Yankees.
This deal will certainly strengthen the sportsbook presence in the biggest market in the sports betting industry. Bally Corporation needed a push like this as sportsbooks in the Empire State are subject to the highest tax rate in the country, which is set at 51 percent based on revenue.
Bally Corporation is Getting as Many Partnerships as Possible
Bally Bet has been looking for ways to get new customers to use their platform as the bookmaker didn’t go live in New York until July 7th. During this time, the bookmaker updated its 2.0 app technology to launch in New York and Arizona, which are two of the biggest markets in the sports betting industry.
The company’s executives stated in its previous earnings call that the brand will take a conservative approach to promotions and marketing. This is still a huge leap forward as the Yankees have partnership deals with FanDuel, DraftKings, and Bet365.
Bet365 is one of the sportsbooks that has failed to get an approved license during the first wave.
Bet365 may be able to get an approved license later when the Empire State allows more sportsbooks to operate in the state, which could happen in 2023 or 2024 as discussions have yet to take place. It is rumored that adding more sportsbooks will lower the tax rate to 35 percent.
What Partnerships Does Bally Have Right Now?
Bally Bet is currently available in six states and will continue to find more avenues to gain market access in other states. Bally Bet Sportsbook is an Authorized Gaming Operator of the MLB, NBA, NHL, and WNBA.
Also, Bally Bet has agreements with the Nashville Predators, the Phoenix Mercury, and the Cleveland Browns. Bally’s Interactive COO Add Dhandhania stated in a press release;
“This is a great partnership that will give Bally Bet and our other Bally’s Interactive brands terrific visibility in New York,…The Yankees’ history as a franchise and their popularity as a global brand speaks for itself.”