Bally Bet Joins Massachusetts Sports Betting Market
Following its approval by the Massachusetts Gaming Commission (MGC) at the start of the year, Bally Bet has now gone live with its sportsbook in the state.
Bally Bet becomes the seventh sportsbook operator to launch in Massachusetts.
LISTEN TO THIS ARTICLE:To secure the wagering license, Bally Bet underwent a thorough review of its internal policies, technological infrastructure, and third-party system integrations.
Additionally, the MGC evaluated Bally Bet's geolocation capabilities and banking systems to ensure compliance with the industry gaming rules, including the ban on credit card deposits for player accounts.
The Category 3 license Bally Bet received required the operator to pay a non-refundable application fee of $200,000 and complete an initial licensing assessment.
Bally Bet Modernizes Proprietary Platform
With its launch in the Bay State, Bally Bet is set to bring a fresh and heightened sports betting experience for Massachusetts bettors. In the past year, the operator underwent a technological upgrade that temporarily suspended its online wagering operations for two months.
The operator partnered with Kambi and White Hat Gaming to overhaul its proprietary technology and migrate to a cutting-edge platform that combines Kambi's technology platform with White Hat's players' account management system (PAM).
More Business News
MA Betting May Numbers
Bally's new market, Massachusetts, is home to six other licensed sportsbook operators, including FanDuel, DraftKings, ESPN Bet, and Fanatics. In May 2024, the operators reported a combined handle of $587.2 million, up 29.1% year-on-year.
Taxable sports betting revenue for the month reached $57 million. Based on a 20% tax rate, Massachusetts received $11.3 million in betting tax revenue during the month.
RELATED TOPICS: Business
Latest News
Responsible Gambling
New Jersey Makes Significant Change to Gambling Self-Exclusion Program
Dec 24, 2024
Most Read
Parlays, Pressure, and Addiction - The Risks of Modern Sports Betting
Dec 20, 2024Must Read
Interviews
When Helping Others Is a Life-Long Mission - An Interview with Gordon Moody CEO, Monica Shafaq
Dec 17, 2024
Interviews
Review this New Post
Leave a Comment
User Comments
Comments for Bally Bet Joins Massachusetts Sports Betting Market