Bally’s Corporation continues to expand into the legal US sports betting market through multiple channels. As a regional casino gaming company, it offers retail sportsbooks through land-based casino properties. Bally’s has also expanded into online sports betting with Bally Bet.
To further its cause, Bally’s has entered into a five-year strategic partnership with Sportsradar. This company provides the sports betting industry with both technology and data covering major US professional sports leagues such as the NBA and NHL.
As part of the new collaboration, Sportsradar will provide pregame and live in-game betting odds for Bally’s. This also includes real time stats and live score widgets.
Sportsradar also offers an all-encompassing suite of betting data that is comprised of live information from sports leagues and other sports governing bodies around the world.
Adi Dhandhania is Bally’s Corporation’s senior vice president of strategy and interactive. As part of an official company statement, he offered the following thoughts:
“This partnership provides us with a comprehensive suite of betting data, which will allow us to enhance our products and content offerings. We look forward to continuing to execute on our online sports betting and interactive gaming expansion strategy.”
Bally’s is one of several legal US sports betting operators trying to gain share in a highly competitive marketplace. The big three of FanDuel, DraftKings, and BetMGM control roughly 80% of that existing market.
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The company’s strategy has been to lead with the iconic Bally’s brand. Based in Rhode Island, the former Twin River Worldwide Holdings acquired the Bally’s brand from Caesars Entertainment. It then changed the company name to Bally’s Corporation to reflect its intentions.
Bally’s has also invested heavily in its efforts to separate this brand from the competition. One of the largest investments was the acquisition of Bet.Works. This was instrumental in creating an iGaming and online sports betting platform.
Other acquisitions include Monkey Knife Fight as a popular online platform for DFS (daily fantasy sports). On the media side, Bally’s partnered with Sinclair Broadcasting to form a regional sports network covering 21 different US markets.
Bally Bet was initially launched as a Colorado online sportsbook in May of this year. In June, the mobile app entered the Iowa online sportsbook market. Additional states are expected to rollout by the end of 2021.
Sportsradar has some high-profile investors behind the scenes including the NFL. Prominent individual investors with strong ties to the NBA include Michael Jordan, Mark Cuban, and Ted Leonis.
Plans are still in the works to take the company public. Earlier this year, there was some interest in going public through a SPAC (special purpose acquisition company). The general consensus is that Sportsradar will eventually go public through a more traditional IPO (initial public offering).
The company is based in Switzerland and it has grown to become the world’s leading supplier of sports betting data and content solutions. Sportsradar employs more than 2,300 people covering 19 different countries around the globe.