BetMGM – Page 2 – FairOdds Network

September 13, 2023

BetMGM ups the ante for the 2023-24 NFL season

One week on, the 2023-24 National Football League (NFL) season is in the books and Matt Prevost, BetMGM's chief revenue officer says BetMGM is looking to make it a big year.

During the off season, BetMGM made numerous changes to its sports betting experience, fuelled by the popularity of the NFL and a general aim to consistently improve its offering.

“The BetMGM app is taking a giant leap forward this season with new capabilities and streamlined user experience,” says Prevost. “One new feature is Same Game Parlay+.

“We have seen incredible activity and demand from our customers in same game parlays. So the ability to add new functionality to this popular feature and now offer the ability to combine several same game parlays for exponentially higher odds is something we expect fans to really take advantage of this season.”

BetMGM’s Survivor Pool

BetMGM is also bringing local flair to its sportsbook in legal markets. The sportsbook is offering “exclusive odds boosts for our tea..

September 8, 2023

LeoVegas breaks ground with BetMGM UK

The news that BetMGM would be launching in the UK gave its gambling market a much-needed shake. But it was the fact that LeoVegas, not Entain, would be MGM’s launch partner that really set the conversation alight. Gustaf Hagman, CEO of LeoVegas, believes his company is more than ready to take on the challenge.

To say the journey to the launch of BetMGM UK has been complex would be an understatement.

To the uninitiated, an established US-facing brand – a joint venture of two industry giants – has managed to implant itself into the UK market.

But peeling back the layers reveals a different story. BetMGM’s US offering is a joint venture shared between MGM and Entain. But the launch of BetMGM UK doesn’t include Entain at all.

Instead LeoVegas, which was acquired by MGM Resorts last year for $604m, will power BetMGM’s new UK platform. This means that BetMGM UK will be competing directly against Entain’s UK brands, which include the likes of Ladbrokes, Coral and Gala.

Despite the enormi..

September 8, 2023

BetMGM rolls out revamped sports betting app as NFL season kicks off

BetMGM, the joint venture between MGM Resorts International and Entain, has launched an updated version of its sports betting app to coincide with the start of the new NFL season.

The 2023-24 NFL campaign kicked off yesterday (7 September), with the Detroit Lions seeing off the Kansas City Chiefs 21-20. The revamped BetMGM app went live ahead of the game, with users having access to a number of new features.

These include a free-to-enter Survivor Pool, where customers pick a team to win each week of the season. Once a team is selected, they cannot be picked again. The last player standing will win the $100,000 (£80,085/€93,352) jackpot.

Players can also access a Same-Game Parlay+ feature, allowing BetMGM sports betting app users to connect two different same-game parlays into a single bet.

Users travelling across different states where online sports betting is legal can access their BetMGM account. In addition, customers will have access to a range of special offers such as a 50% l..

August 7, 2023

BetMGM clinches Kentucky market access agreement

BetMGM and Revolutionary Racing Kentucky (RRKY) have partnered for a new market access agreement.

The agreement will see BetMGM offer its online and retail sports betting platform to Kentucky’s market, once sports betting becomes legalised in the state.

Retail sports betting will go live on 7 September, followed by online betting on 28 September.

Read the full story on iGB North America

August 3, 2023

BetMGM close to profitability as MGM hits record revenue in Q2

Land-based and online gaming operator MGM Resorts International reported all-time record revenue in Q2, as the company’s online business BetMGM announced its first EBITDA positive quarter.

MGM recorded $1.95bn in revenue in Q2, up 43.4% from the same quarter the previous year. The operator put the increase down primarily to the removal of Covid-19 related entry restrictions in Macau.

MGM CEO and president Bill Hornbuckle also chose to highlight the progress made by its online joint venture with Entain, BetMGM.

“BetMGM reported that it achieved its first positive EBITDA quarter and remains on track to achieve its next milestone of second half profitability,” he said.

However, despite this, the online gaming platform still recorded a $22.5m loss during the quarter. This represents a 68.4% fall in losses compared to the $71.2m reported in the same quarter the previous year.

MGM reports steady profits in Q2

On this total, the business announced it achieved an operating income of $37..

June 7, 2023

Adam Greenblatt outlines BetMGM’s path to profitability

The US sports betting and igaming market is maturing and at BetMGM Adam Greenblatt believes product is the battleground where the leaders will be decided for the market’s next phase.

Adam Greenblatt has led BetMGM, the joint venture between Entain and MGM Resorts since its formation in 2018. It is on track to achieve profitability in the second half of the year.

BetMGM is live in 20 states, as well as Washington DC and Puerto Rico and Ontario in Canada. Since 2018, it could be seen as the only business to consistently keep pace with DraftKings and FanDuel.

It didn’t have the database of the legacy daily fantasy giants. But thanks to the MGM Resorts connection (and without M&A along the way), it’s established as a top tier brand in the US.

Other brands with designs on a top tier position such as Caesars, Bally’s, Penn National and 888, have undergone significant change. They’ve acquired to grow, onboarded new tech or sought out new partners.

This may help each business close the..

March 10, 2023

Massachusetts’ mobile sports betting market goes live

The six online operators approved to launch mobile sports betting offerings in Massachusetts – FanDuel, DraftKings, WynnBet, Barstool, BetMGM and Caesars – have gone live in Massachusetts.

More than six months on from when then-governor Charlie Baker signed House Bill 5164 into law, players have begun placing bets from the six online operators licensed by the Massachusetts Gaming Commission (MGC) – joining the now majority of US states that have legalised the activity.

The rollout follows the launch of retail sports betting towards the end of January, that permitted any land-based casino or racetrack operator to apply for a licence.

“The debut of sports betting in Massachusetts has delivered an incredible amount of excitement and activity to our retail sportsbook at MGM Springfield,” said BetMGM CEO Adam Greenblatt. “We’re proud to expand our best-in-class wagering experience statewide during one of sports’ biggest months of action.”

Role of sports fans

President of Caesars Digit..

March 7, 2023

BetMGM named as an official sports betting partner of the Boston Red Sox

BetMGM has been named as the official sports betting partner of MLB team the Boston Red Sox.

This announcement precedes the launch of mobile sports betting in Massachusetts. It marks the first sports betting partnership for the Red Sox, as well as BetMGM’s first tie to a Massachusetts sports team.

“The Red Sox are one of baseball’s most beloved organisations and we’re thrilled to bring BetMGM to their passionate fans,” said Matt Prevost, chief revenue officer at BetMGM. “We look forward to working together to elevate the game day experience in Boston.”

As part of the deal, BetMGM promotional material will appear at Fenway Park. Fenway Park’s left field wall, coined “Green Monster”, will display BetMGM signage.

Branded content will also be distributed across both BetMGM and the Boston Red Sox’s social media accounts.

BetMGM will also have a suite at the stadium. The operator plans to execute VIP fan experiences in the suite, including batting practice access, ceremonial first pit..

November 23, 2022

Maryland’s regulated sports betting market officially opens

Maryland’s online sports betting market is officially live, with seven operators now active in the state as of today (23 November).

Barstool, BetRivers, BetMGM, Caesars, DraftKings, FanDuel and PointsBet can now accept wagers in the state.

Caesars and DraftKings launched before the regulated market officially opened, in preparation for the imminent commencement.

Read the full story on iGB North America

October 11, 2022

BetMGM becomes Cincinnati Reds’ official sports betting partner

BetMGM has become an official sports betting sponsor of the Cincinnati Reds baseball team.

The sponsorship precedes the launch of legalised sports betting in Ohio, which will take place on 1 January 2023.

The bills that introduced sports betting in the state – Senate Bill 176 and House Bill 29 – were introduced in May 2021. Eventually, an evolved version of House Bill 29 made it to Ohio’s state House and Senate, where it was passed.

Read the full story on iGB North America

September 2, 2022

BetMGM marks Kansas launch with Chiefs deal

BetMGM has marked its entry into the Kansas sports betting market by partnering with the Kansas City Chiefs.

The state’s sports betting market went live on 1 September, with six operators having been licensed to offer their services.

BetMGM debuted in its 24th market across North America, and also announced its partnership with the National Football League’s (NFL) Chiefs ahead of the new season.

To read the full article, visit iGB North America.

August 24, 2022

BetMGM expands strategic partnership with SportsGrid

BetMGM has expanded its strategic partnership with US-facing 24-hour sports wagering streaming network SportsGrid.

Under the multi-year agreement, BetMGM’s trading team and experts will provide insight during a number of SportsGrid programs such as including Ferrall Coast to Coast, Pro Football Today and In-Game Live Primetime.

BetMGM’s odds and promotions will feature throughout Ferrall Coast to Coast, while its content will also appear on other shows broadcast by SportsGrid.

In addition, SportsGrid’s lead pro football analyst Warren Sharp will deliver reports from MGM Resorts properties including MGM National Harbor in Maryland.

The reports will be distributed over SportsGrid’s multi-media content platforms including the video streaming network, website, digital syndication publisher network and both BetMGM’s and SportsGrid’s social media properties.

The expanded deal builds on an initial strategic partnership announced in February of this year.

“We are thrilled to be expanding..

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