If you are a football lover, then you don’t need any introduction to Former Seattle Seahawks running back and Super Bowl champion Marshawn Lynch. Recently, the Super Bowl champion became the latest BetMGM ambassador joining a short but formidable list of other BetMGM ambassadors.
As a brand ambassador, Lynch will be called upon to make appearances on behalf of BetMGM. He will also be included in the brand’s marketing material, campaigns, promotions, as well as fan events. Retired and current NFL players are fast becoming central figures and influencers in the sports betting market.
With customer acquisition costs rising by the day, sports betting operators are doing everything possible to make the process of attracting punters to the fold as effortless and as affordable as possible. Most recently, BetMGM also signed a deal with NHL star Wyne Gretzky, as well as the Pittsburgh Pirates.
To further cement its expansion into the sports betting market in the country, BetMGM also partnered up with Major League Baseball team the Washington Nationals in a move to further its reach. At the beginning of this year in February, BetMGM also signed Hall of Fame running back Barry Sanders to a multi-year deal as a superstar BetMGM brand ambassador. BetMGM is also the official sports wagering partner of the Detroit Lions.
Sanders, formerly with the Detroit Lions for more than 10 years, has been taking part in a series of events with BetMGM customers. Like Lynch, Sanders has been tasked with engaging MGM Resorts’ M life Rewards loyalty members in private and public events. BetMGM is becoming one of the fastest-growing sports betting apps in the gaming market in the country.
Sanders is an inductee of the Pro Football Hall of Fame. Adding brand ambassadors such as Sanders has helped to bring a new level of exhilaration for all BetMGM customers. These partnerships are also going a long way to help sportsbooks create enhanced experiences for their customers.
The BetMGM sports wagering app has been growing considerably over the years. BetMGM is available in numerous states including West Virginia, New Jersey, Tennessee, Iowa, Colorado, Virginia, Pennsylvania, Nevada, as well as Indiana. Apart from sports wagering, BetMGM is also highly specialized in iGaming, a vertical that is slated to become the biggest revenue generator for states in the future.
It’s not just BetMGM that is striking up such partnerships with athletes. Not too long ago, PointsBet signed up (NFL) great and future Hall of Famer Drew Brees as its international brand ambassador. Brand ambassadors are helping operators to massively increase engagement as sports betting continues to expand into more states.
What we cover
BetMGM is keen on taking over the iGaming market
Indeed, iGaming has blown up in the last couple of months thanks to the ongoing pandemic. BetMGM is doing everything possible to ensure that it captures a slice of the sports betting pie. As sports betting continues to become more and more prevalent, the industry should expect to keep seeing such partnerships between athletes as well as their corresponding leagues.
Following its most recent Q1 report, BetMGM has been clear that it tends to make every move to allow it to occupy the number 2 spot in the US sports betting and iGaming market. Taking over the number 2 spot means that BetMGM would have to topple the 2nd place holder DraftKings. DraftKings together with FanDuel control more than 60% of the online sports betting market; BetMGM holds the 3rd spot.
So far, BetMGM has managed to secure a market share of about 23% since February 2021 and with such prestigious partnerships and brand ambassadors, it shouldn’t have any problems dominating the market before the end of the year.
BetMGM anticipates that it will attain $1bn of net income from operations in 2022, while the brand expects to invest approximately $450m in addition to the $210m it already invested in 2020 into improving its operations. So far, BetMGM has demonstrated a strong momentum as the US market shapes up to be even larger and more vibrant than originally envisioned.
The recent rollout of BetMGM in Washington DC should certainly help to drive revenue and handle for the brand. BetMGM joined the Washington DC betting market owing to an exclusive collaboration with the Washington Nationals Major League Baseball (MLB) team.
However, if there is anything that will help to cement BetMGM’s dominion in the sports betting market, it will be its partnership with Its first horse racing partner NYRA Bets. As the New York Racing Association’s first horse racing partner in the country, BetMGM is well-positioned to take advantage of the newly legalized fixed odds wagering on horse races.
As you may or may not know, fixed odds betting on horse races was recently made legal for punters in New Jersey and is soon going to be signed by Governor Phil Murphy into law. Punters had anticipated that fixed odds betting on horse races would already be legalized in time for the Haskell that was held not too long ago in Monmouth Park.
Sadly, however, New Jersey horse lovers and punters alike will have to wait slightly longer before they can start wagering on fixed-odds during horse races. New Jersey legislators have been pushing hard to have this system legalized so that it can replace the outdated parlay system of betting on horse races. Now that this new system is soon going to be made official, BetMGM will be well-positioned to take over the iGaming market as it has laid out in its expansion plans.
Final Thoughts
Ever since it partnered up with Entain, MGMResorts has been focused on one thing; market domination. So far, the sports betting brand has set a strong momentum and has done an excellent job of laying its plans and expectations for the US sports betting and iGaming market.
If everything goes according to plan, BetMGM is slated to become the second most popular operator in the country. Once it does that, the brand only has to work hard to overthrow the current revenue leader; FanDuel, from the number one spot on the revenue table.
