The closure will take effect on June 30, 2023. Bally Bet customers in Arizona will be able to withdraw their funds and close their accounts during the closure period.
Bally Bet launched in Arizona in September 2021. The company has struggled to compete with the larger and more established sportsbooks in Arizona. In November 2022, Bally Bet had just 0.02% of the handle in Arizona and only outperformed Desert Diamond, according to Arizona Gaming Commission monthly revenue reports.
The closure of Bally Bet in Arizona is the latest in a string of setbacks for the company. In January 2023, Bally’s CEO, Lee Fenton, stepped down after the company’s stock price plummeted. And in February 2023, Bally’s announced that it would be selling its regional sports networks.
It is unclear when Bally Bet will reopen in Arizona. The company said that it will “continue to evaluate the market” and “make a decision about when to resume operations” in the future.
Kambi is a leading sports betting technology provider. The company powers sportsbooks in over 15 countries, including the United States, Canada, and the United Kingdom. Kambi’s platform is known for its speed, reliability, and flexibility.
The closure of Bally Bet in Arizona is a sign of the challenges facing the sports betting industry. The market is becoming increasingly crowded, and it is difficult for smaller players to compete.
It remains to be seen how the closure of Bally Bet will impact the overall sports betting market in Arizona. However, it is clear that the state’s sports betting landscape is changing.
What does this mean for Arizona sports fans?
The closure of Bally Bet in Arizona will mean that there will be one fewer sportsbook option for fans in the state. This could lead to higher prices and less competition for customers.
However, there are still a number of other sportsbooks operating in Arizona, including FanDuel, DraftKings, and BetMGM. These sportsbooks offer vast sports betting catalogs, including live betting and prop bets.
Overall, the closure of Bally Bet in Arizona is not a major setback for the state’s sports betting market. However, it is a sign that the market is becoming increasingly competitive.