Zona de Azar USA – BetMGM Partners with X for Social Media Sports Betting Feature

USA.- January 29th 2024 www.zonadeazar.com BetMGM is set to establish a significant presence on a popular social media platform through a partnership with X, formerly known as Twitter, according to a report by Fortune.

The collaboration between the sports betting operator and X aims to introduce a feature showcasing sports betting odds directly on the Elon Musk-owned platform.

While the terms of the deal were not disclosed, the strategic timing of the partnership’s launch, aligning with the February 11 Super Bowl, would undoubtedly be advantageous for both entities.

According to estimates from the American Gaming Association, the 2023 NFL Super Bowl witnessed over $16 billion in wagers from more than 50 million participants.

With an existing follower base of over 310 million on X, BetMGM is set to leverage the platform’s expansive network, transforming it into a hub for bettors to share picks, discuss sporting events, and engage in betting-related conversations. X, which boasted approximately 556 million active monthly users in 2023 with 6.1 billion visits per month, provides a fertile ground for BetMGM to amplify its reach and influence.

Founded as Twitter in 2006, X underwent a name change in July 2023 after being acquired by Elon Musk in October 2022 for a staggering $44 billion.

Despite being the third-largest sportsbook operator in the market, trailing behind FanDuel and DraftKings with an 18% market share, BetMGM is making strides. Operating in over 20 U.S. jurisdictions, the sportsbook, co-owned by MGM Resorts and Entain in a 50/50 partnership, reported a robust third-quarter net gaming revenue of $458 million in 2023. Projections for 2023 anticipate BetMGM’s revenue to reach an impressive $1.9 billion.

Edited by: @MaiaDigital www.zonadeazar.com