In a deal to drive betting handle for both companies, PropSwap and Bally Bet have announced a partnership that began on Thursday and will encompass Bally Bet’s sportsbooks in its two Mississippi retail locations.
Company Synergy
Bally Bet’s Mississippi retail sportsbooks inside the Hard Rock Hotel & Casino in Biloxi and Bally’s Vicksburg will now feature sports bets available on the secondary market through one of the category’s industry leaders, PropSwap.
The agreement was announced last week and is expected to drive sales for both companies using Bally Bet’s retail sportsbooks and PropSwap’s volume of secondary sports bets that will allow the resale of active betting slips through its online marketplace. Data collected over 10 years shows bettors will wager more money and be more apt to bet on futures and parlays if they believe they can exit the bet at a fair price.
“Since PASPA was overturned in 2018, PropSwap has been uniquely positioned to provide a fun experience, and more importantly, a margin improvement to both sportsbooks and their customers,” said PropSwap CEO and founder Luke Pergande. “We are forever changing how people wager on sports. Your bets no longer need to win to get paid. They simply need to improve. This concept changes everything for a gambler. We’re excited that Bally Bet shares that vision with us, and we are looking forward to the start of the partnership this weekend.”
PropSwap also announced the hiring of gambling industry consultant Dustin Gouker as an advisor to its staff.
“PropSwap has been an innovator in sports betting, and I am excited to help the company in the next phase of its growth,” Gouker said. “Deals like this with retail sportsbooks in a state with legal sports betting are a testament to what Luke and the team have built and their desire to help grow the regulated industry.”
Mississippi Advances Online Sports Betting Bill
Mobile sports betting in Mississippi is only allowed on the property of retail sportsbooks, but House Bill 1302, also known as the “Mississippi Mobile Sports Wagering Act,” would allow online sports betting throughout the state. It has already passed by an overwhelming 88-10 margin in the House and incorporates many of the suggestions suggested by the Senate last year in a similar bill.
Republican Representative and House Gaming Chairman Casey Eure is a co-sponsor of the bill, but Senator David Blount, who chairs the Senate Gaming Committee, has refused to hear Eure’s bill. Because of that, Eure rolled his bill into another bill, near and dear to Blount’s heart, Senate Bill 2381, also known as the Tidelands Act.
“The Tidelands bill is critically important to the growth of the industry on the Gulf Coast, and it is supported by every single casino on the Gulf Coast, and mobile sports betting has half the casinos for it and half are against it,” said Blount. “Every casino is for tidelands reform because it provides much-needed stability to the market, and until we restore that stability, and that means having the House pass a clean bill, it discourages increased investment on the Gulf Coast.”
As of this writing, the ball is in Blount’s corner. He can kill Eure’s bill, but would then be killing the Tidelands Act as well. It’s become a chess game in the Mississippi legislative chambers, but either way, it appears Blount has been checkmated.
