Sports betting operator BetMGM has picked online payment platform Shift4 as its official payment platform partner. As a result of this partnership, Shift4 will power all of BetMGM’s online and sports wagering transactions made on its website, as well as its mobile app. Shift4 will integrate with BetMGM’s end-to-end processing technology to produce one of the safest and most secure payment systems for its customers.
Shift4 is not a newbie in the online gaming industry. It already has similar partnerships with several other casinos on the Strip, as well as many others across the country. This new partnership with BetMGM will allow Shift4 to take advantage of the numerous growth opportunities that exist in the nascent iGaming market in the country.
Shift4 has managed to partner up with at least half of the operators on the Strip primarily because of its groundbreaking payment platform that features PCI-approved point-to-point encryption. This platform also boasts advanced tokenization features that ensure that customer transactions are not only secure but also integrated under one roof.
Sfift4’s payment platform will ensure that BetMGM customers enjoy one of the best payment experiences available. Apart from the gambling industry, Shift4’s platform is also used in numerous sectors such as retail, eCommerce, hospitality, and so much more.
What we cover
BetMGM still focused on iGaming expansion in the country
As the country starts to slowly recover from the impact of last year’s pandemic, BetMGM has maintained its focus in prioritizing its sports betting and iGaming business. The popular sportsbook intends to expand its operations even further than it already has, having gained a considerable market share throughout last year whilst successfully debuting in 7 new states.
By the end of this year, BetMGM has grand plans to make its iGaming and sports betting products available to its customers in an additional 20 markets before the year is out. BetMGM debuted its services in New Jersey in 2018 after the Supreme Court revoked PASPA thus giving each state the right to determine whether they should decriminalize sports betting.
BetMGM has laid an impressive foundation for growth since it was founded. This year, it is expected to keep the strong momentum going as future expectations for the sports wagering market in the country continues to swell. So much so that BetMGM is now targeting an expected market share of between 20 and 25% of the fast-growing US online casino and sports betting market.
But BetMGM has nothing to worry about having secured a market share of 23% of the market in Q2 2021. This means that BetMGM is well on its way to capturing the number 2 spot at the top of the sports betting and iGaming revenue table. Looking ahead to 2022, BetMGM claims that it hopes to generate at least $1bn of net revenue. To make sure that this happens, BetMGM alongside partner Entain is investing an estimated $450m in addition to the $210m that it has already invested.
The US sports betting market is shaking up to be even more successful than anyone predicted it would be. Thanks to Entain’s unique proprietary platform as well as MGM Resorts’ longstanding name in the hospitality industry, BetMGM was always a sure bet from the word go. Together, BetMGM and Entain have the possibility of growing to become the market leader in the country.
This year, BetMGM started off strong by launching its leading sports betting app in Michigan. With this launch came a partnership with the Detroit Lions and Red Wings, both of whom made the sportsbook their official sports wagering partner. This year, BetMGM also launched in Virginia, as well as Iowa.
As BetMGM continues expanding its offerings in new states, it has made responsible gambling a central pillar, which has further allowed it to gain favor among punters. As each state has rolled out legal sports betting, BetMGm has continued keeping good on its promise to secure the number one spot, which is a true testament to its effective execution and strong management background.
So far, BetMGM’s primary competitive advantage has been its capacity to leverage MGM’s destinations to offer punters experiential offerings through its M life loyalty program. This loyalty program has proven to be one of the most effective customer acquisition tools. By allowing its customers to have an omnichannel experience, BetMGM customers receive more value compared to other single-channel punters.
BetMGM’s expansion into Washington DC also means that the sports betting app is now partners with the Washington Nationals. This partnership means that BetMGM will soon include a retail sportsbook in Nationals Park, set to open before the year comes to a close. With this deal, BetMGM will be the only mobile sports betting app that is accessible at Nationals Park once construction has been completed.
This launch in Washington has set the stage for BetMGM to keep expanding within the region as it has already experienced a remarkable amount of growth in Virginia. This new in-stadium fan experience will allow BetMGM customers to have an unparalleled experience, further ensuring its market domination in the fastest-growing sports betting market in the world. BetMGM customers enjoy unique opportunities to interact with traditional as well as modern online gaming.
Final Thoughts
The sports wagering and iGaming market in the country has grown to become one of the most successful and BetMGM is dead in the center of all the action. The exciting growth opportunities available in the growing iGaming market in the country mean that BetMGM is only just getting started.
BetMGM kicked off 2020 with a presence in just 3 markets and it ended last year with a total of 10. Today, BetMGM is live in 12 states and it expects to debut in an additional 20 states by the end of the year. This means that the operator will boast access to more than 40% of punters in the country. If that is not remarkable growth, what is?
