In an unprecedented development, BetMGM has announced a new partnership with the social media platform X, formerly known as Twitter. This collaboration marks the first of its kind between a social media brand and a sports betting operator.
The strategic alliance was unveiled right before the Super Bowl weekend, generating anticipation after weeks of teasing betting enthusiasts on X. Even though the specific financial terms are undisclosed, the parties designed the agreement to boost both businesses.
Late last year, Elon Musk, X's CEO, acknowledged that the app had lost some of its top advertisers. BetMGM is also in a tight race with other sportsbooks for more revenue.
X is the leading social media platform for public discussions because it hosts debates on diverse global topics, including sports. Furthermore, teams, players, and journalists use the app to share transfer updates, injuries, rumors, and leaks, attracting hordes of sports enthusiasts.
The collaboration also represents a significant milestone for BetMGM because it expands its reach to a wider audience. Having previously partnered with local brands, the US-based company is interested in further expansion.
As of March 2023, BetMGM has successfully entered 16 states: Arizona, Colorado, Illinois, Indiana, Iowa, Kansas, Louisiana, Michigan, Nevada, New Jersey, New York, Pennsylvania, Tennessee, Virginia, West Virginia, and Wyoming.
First of Its Kind Deal Expected to Boost Revenue for BetMGM
Twitter’s robust presence in live sports conversations has been proven many times. In 2015, 28.4 million tweets were generated during the Super Bowl. BetMGM hopes to tap into this sports traffic to expand and venture into new markets. If it works out, this sportsbook will be at the forefront of a revolutionary shift in how fans engage in sports betting.
X will integrate BetMGM odds, information, and branding into their platform as part of the agreement. The Twitter app will contain direct links to BetMGM’s website so users can place bets effortlessly. This feature targets Twitter’s US audience and will only be available for professional NFL games.
However, there are plans to extend the betting feature to college sports and other major professional leagues. In addition, since the deal is the first of its kind, BetMGM also intends to launch new betting features with the Twitter agreement as time goes on. The specific timeline for releasing these features has not been disclosed, but we know much work is being done to improve the service.
Speaking on the announcement, Linda Yaccarino, the executive director of X, tweeted, "Sports never sleeps on X; we'll bring fans on X even closer to the action to cheer and now bet on their favorite teams."
BetMGM CEO Adam Greenblatt commented, “X is the center of the sports world’s conversation 24 hours a day, seven days a week. Being directly accessible within that forum is an unprecedented opportunity to expand our reach to a passionate and engaged audience.”
Top Industry Sportsbook Expands Reach Into American Market
BetMGM has been a formidable contender in the gaming industry for most of the six years it has been operating in the US. The sports betting operator is the result of the collaborative efforts of MGM Resorts International and the UK’s Entain Plc.
In its six years, the sportsbook has gained entry into 16 states and is well known across the country. BetMGM proudly holds the position of the third-largest online sportsbook in the United States, and its prominence is eclipsed only by FanDuel and DraftKings in market share.
With this collaboration with Elon Musk’s X, the app has access to more punters from all the states it legally operates in. Even though Twitter can be accessed globally, not everyone can enjoy the new feature.
Only bettors from states where betting has been legalized, and BetMGM has a valid license can use the feature in the US. Irrespective of the limits, this collaboration has built inroads for the sportsbook to reach a new audience in the 16 states where the sportsbook operates.
