Bally Bet has received an online sports betting license in New York, but don’t expect to see the app launching anytime soon. New York online sports betting officially launched on January 8, 2022, and there were four operators ready on that first day.
It now appears as if the Bally Bet Sportsbook is not set to launch until April, and that would cause the operator to miss out on a pair of huge sporting events. The Super Bowl is set for February 13, and then the NCAA Men’s Basketball Tournament will be played in March.
Leaders of Bally Bet have been open to the media about the delayed launch, and there isn’t one specific thing that is holding it all back. Bally Bet has simply looked at the current market and likes its chances to compete by waiting for the initial wave to pass before officially going live.
Online sportsbooks are required to pay a 51% tax on all revenue, but that hasn’t kept Bally Bet from seeking a license. Once Bally Bet does officially go live, it will add another terrific sports betting option in the state.
Can’t Compete With Promotions
Bally Bet believes that it can eventually compete with the other operators in New York, but it will not be able to attract customers at this time. The sportsbooks that are already live in New York have been offering massive bonuses and promotions, and Bally Bet is unwilling to dish out that kind of money.
Caesars Sportsbook was offering a welcome bonus that amounted to $3,300 for all new bettors when the app went live. Other sportsbook operators increased their standard welcome offers as well, and Bally Bet was simply unwilling to get involved in a bidding war for new customers.
New York Sees Massive Start
There has already been a report released about the success of online sports betting in New York during the first nine days of wagering. Based on that report, New York could become the largest sports betting operator in the United States by February.
There were only four sportsbooks live for those first nine days, but the total sports betting handle was more than $600 million. BetMGM and PointsBet have since gone live, giving the state six sports betting options.
Who Wins the Super Bowl?
The NFL is expected to be the most popular league to wager on in the month of January, and this will be a massive weekend for sportsbooks. There are a pair of conference championship games on the schedule, with the winners advancing to the Super Bowl on February 13.
The Kansas City Chiefs are 7.5-point betting favorites over the Cincinnati Bengals in the AFC, and the Los Angeles Rams are the 3.5-point favorites over the San Francisco 49ers in the NFC.
Kansas City is a clear consensus betting favorite to win the Super Bowl, with odds set as low at +125. The Los Angeles Rams are now next on the list at +210, followed by the San Francisco 49ers (+450) and the Cincinnati Bengals (+850).