Bally is a borough in Berks County, Pennsylvania, United States. The population was 1,228 at the 2020 census. Bally was originally called Goshenhoppen, possibly deriving from an Indian word meaning meeting "place". Others claim the name derives from German settlers calling the area their haven or Hafen in German, eventually becoming Goshenh…Bally is a borough in Berks County, Pennsylvania, United States. The population was 1,228 at the 2020 census. Bally was originally called Goshenhoppen, possibly deriving from an Indian word meaning meeting "place". Others claim the name derives from German settlers calling the area their haven or Hafen in German, eventually becoming Goshenhoppen. Mennonites and Catholics settled in the borough in the early 18th century.