Twitter Inks Deal With BetMGM For Sports BettingCompany Brings More Wagering Info |
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Check out Twitter on an average NFL Sunday and sports fans will find plenty of predictions, crazy bets, and frustration about bets gone wrong. There seems to be plenty of posting about the day’s NFL action.
With 39 states (including Washington D.C. and the U.S. territory of Puerto Rico) legalizing some form of sports betting, BetMGM and Twitter are looking to bring even more stats and prognostication to the platform. With the Super Bowl less than two weeks away, the two companies have announced a deal that will bring BetMGM betting lines and information to Twitter as well as BetMGM advertising.
“While the specific financial terms of the collaboration could not be learned, the intention is to introduce a feature for X soon that will showcase betting odds and provide a direct link to BetMGM, allowing users to place bets,” Fortune reports.
Sports Betting & Social Media
The agreement may be a first for Twitter, which has tried to rebrand as X, but looks to enhance an outlet already used by many sports betting fans. The platform allows BetMGM to reach many gamblers as the company looks to grow its customer base.
MGM occupies the third-place spot in the U.S. sports betting market behind Fanduel and DraftKings. The company sits at a market share of 17%, but is looking to grow that number to over 20%, management outlined in a recent presentation.
Already an official sports betting partner of the NFL, NHL, and MLB, BetMGM also hopes to go live in North Carolina, New York, Maryland, and Illinois this year as part of its expansion efforts.
“This comes at an important moment for both companies with the NFL Super Bowl only two weeks away,” Fortune notes. “Live events are where X’s strength lies. The platform garnered a record-breaking 28.4 million tweets during the broadcast in 2015 for instance.”
Whether the effort can help gain market share remains to be seen. The market is crowded with new players, such as Fanatics, entering the mix as well.
Another major sports betting operator is also rumored to be inking a new deal in the coming weeks as well. Some expect DraftKings to sign a new agreement with Barstool Sports after the Super Bowl.
Washington D.C. is also considering bringing in a new operator for its own platform, which hasn’t met expectations since launching.
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