New York online sports betting should soon be operating at full capacity for the first time since its January launch.
During its Q1 earnings call, Bally’s CEO Lee Fenton announced the company intends to finally launch Bally Bet in New York by the end of Q2.
Bally’s Should Launch Before June is Out
The second quarter of the year will end on June 30, so if all goes according to plan the ninth New York online sports betting operator should be taking bets within the next two months.
“We launched in Arizona yesterday with our foundational 2.0 product, and New York will follow later this quarter. This is a significant milestone for us, and represents a huge effort for the team,” Fenton said.
He continued and noted the company would be cautious in New York as it keeps a “keen eye” on marketing spend and how to navigate a high-tax environment in sports betting.
Original Launch Planned in April
Bally Bet’s launch will come at least several months after Bally’s Chairman Soo Kim said the app would launch in New York this past April.
In a January interview with with Contessa Brewer on CNBC, Kim said Bally’s was comfortable with an April launch, even though it meant the company would miss out on the lucrative Super Bowl and March Madness tournament.
Bally Bet will be the ninth and final operator to launch out of the original sportsbooks to receive New York licenses.
New York Records Over $6 Billion in Bets
In just a little under four months, New York online sports betting has recorded over $6 billion in total handle.
Since its Jan. 8 launch, New York has accepted over $6.27 billion in total online sports betting handle, according to the New York State Gaming Commission.
The state has eclipsed $1 billion in total online sports betting handle during each of its four months of operation.
The addition of Bally Bet will only help increase the monthly online sports betting handles.