Tag Archives: BetMGM

Pennsylvania operators fined for allowing bets on unapproved sporting event

Pennsylvania operators fined for allowing bets on unapproved sporting event

The Pennsylvania Gaming Control Board (PGCB) has fined Mountainview Thoroughbred Racing Association and BetMGM for accepting bets on an unapproved sporting event.

The sanction was confirmed after the regulator approved a consent agreement presented by the Board’s Office of Enforcement Counsel (OEC).

The agreement was the result of negotiations between OEC and Mountainview Thoroughbred Racing Association, operator of Hollywood Casino Morgantown in Berks County, and its sports betting partner BetMGM.

The $7,500 fine was levied when BetMGM accepted and paid out wagers on the Victor Belfort v Evander Holyfield boxing contest on 11 September 2021 after the PGCB said that it had “specifically notified all operators that wagering on this event would not be permitted”.

In total, 76 wagers were accepted by BetMGM, according to the watchdog.

Last month, the PGCB fined Parx Casino $10,000for allowing an 18-year-old to access the casino and gamble at gaming tables.

The regulator said casino ..

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Maryland’s regulated sports betting market officially opens

Maryland’s regulated sports betting market officially opens

Maryland’s online sports betting market is officially live, with seven operators now active in the state as of today (23 November).

Barstool, BetRivers, BetMGM, Caesars, DraftKings, FanDuel and PointsBet can now accept wagers in the state.

Caesars and DraftKings launched before the regulated market officially opened, in preparation for the imminent commencement.

Read the full story on iGB North America

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BetMGM becomes Cincinnati Reds’ official sports betting partner

BetMGM becomes Cincinnati Reds’ official sports betting partner

BetMGM has become an official sports betting sponsor of the Cincinnati Reds baseball team.

The sponsorship precedes the launch of legalised sports betting in Ohio, which will take place on 1 January 2023.

The bills that introduced sports betting in the state – Senate Bill 176 and House Bill 29 – were introduced in May 2021. Eventually, an evolved version of House Bill 29 made it to Ohio’s state House and Senate, where it was passed.

Read the full story on iGB North America

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BetMGM marks Kansas launch with Chiefs deal

BetMGM marks Kansas launch with Chiefs deal

BetMGM has marked its entry into the Kansas sports betting market by partnering with the Kansas City Chiefs.

The state’s sports betting market went live on 1 September, with six operators having been licensed to offer their services.

BetMGM debuted in its 24th market across North America, and also announced its partnership with the National Football League’s (NFL) Chiefs ahead of the new season.

To read the full article, visit iGB North America.

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BetMGM expands strategic partnership with SportsGrid

BetMGM expands strategic partnership with SportsGrid

BetMGM has expanded its strategic partnership with US-facing 24-hour sports wagering streaming network SportsGrid.

Under the multi-year agreement, BetMGM’s trading team and experts will provide insight during a number of SportsGrid programs such as including Ferrall Coast to Coast, Pro Football Today and In-Game Live Primetime.

BetMGM’s odds and promotions will feature throughout Ferrall Coast to Coast, while its content will also appear on other shows broadcast by SportsGrid.

In addition, SportsGrid’s lead pro football analyst Warren Sharp will deliver reports from MGM Resorts properties including MGM National Harbor in Maryland.

The reports will be distributed over SportsGrid’s multi-media content platforms including the video streaming network, website, digital syndication publisher network and both BetMGM’s and SportsGrid’s social media properties.

The expanded deal builds on an initial strategic partnership announced in February of this year.

“We are thrilled to be expanding..

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BetMGM to limit presence in New York until tax rates change

BetMGM to limit presence in New York until tax rates change

BetMGM chief financial officer Gary Deutsch said the business would continue to adopt a “conservative” approach in New York until the state’s “irrational” tax environment changes.

During its latest investor day, BetMGM reiterated its net revenue guidance for 2022 of $1.3bn (£1.06bn/€1.25bn), up from $850m in 2021. Executives also said BetMGM’s earnings before interest, tax, depreciation and amortisation (EBITDA) for the year should be similar to 2021, when the business reported an EBITDA loss of $430m.

However, chief financial officer Gary Deutsch noted that there was a change in the portions of this $1.3bn produced by different states.

“Within this guidance, the revenue mix is different than previously expected,” he said. “We expected lower New York revenue and higher revenue in our other online sports and igaming states.”

Deutsch then went on to outline why BetMGM had taken few steps to establish a foothold in New York. During April, the operator reported $5.0m in revenue from $1..

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Californians to vote on legalising online betting this year

Californians to vote on legalising online betting this year

A proposition to allow online sports betting in California – but with licence fees of up to $100m – will to appear on the state’s ballot this November.

Flutter chief executive Peter Jackson confirmed that the measure – backed by Flutter’s FanDuel brand, as well as DraftKings and BetMGM – was set to appear on the ballot this November, having gained more than the required 997,139 signatures.

“We’re very excited abut the Californian situation,” he said. “Clearly getting to this stage was not straightforward but we’re very, very happy to be on the ballot.”

These signatures must still be verified, though the measure reportedly has enough signatures that this is expected to be a formality. If it appears on the ballot and is approved by a majority of voters, it will become law.

The measure is titled the California Legalize Sports Betting and Revenue for Homelessness Prevention Fund Initiative (2022), as 85% of tax proceeds will gowards reducing homelessness. Sports wagering will be taxed ..

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Feeding the marketing furnace

Feeding the marketing furnace

As Q1 results season gets underway, US sportsbook operators are increasingly looking to refine their customer acquisition approaches.

In the US, sports betting is everywhere. Morning commute billboards, YouTube interstitials, TV commercials, influencer posts…marketing channels are saturated with imagery and copy encouraging new bettors to join the fray.

It should be no surprise, considering the ongoing mass expansion of sportsbooks and online betting sites in the US. With every newly regulated market comes new advertising and marketing campaigns.

Ad channels are brimming with attempts to bring sports fans, curious bettors, or other newcomers into the fold. It takes a careful, well-researched touch to succeed in marketing a sports betting site, especially in the piecemeal and sometimes chaotic US geographies with varying regulatory and legal requirements.

By this point, many big-name operators have staked their claim and continue to market to potential long-term customers. There’s s..

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BetMGM and PointsBet cleared to launch in Ontario

BetMGM and PointsBet cleared to launch in Ontario

iGaming Ontario, the subsidiary of Alcohol and Gaming Commission of Ontario (AGCO), has announced BetMGM and PointsBet as the latest operators to secure online gambling licences in the Canadian province.

BetMGM will operate through BetMGM.ca in Ontario, while PointsBet will be active via the PointsBet.ca website.

Each of the licences will run from the day the market opens through to 3 April 2024.

Ontario’s regulated online gambling market will officially launch on 4 April, with iGaming Ontario having been given the responsibility to oversee all igaming operations in the province.

In recent weeks, iGaming Ontario has issued licences to a host of operators in preparation for the market opening.

These include Bet365, Flutter Entertainment-owned FanDuel, Unibet and the Ontario Lottery and Gaming Corporation.

Other named licensees include LeoVegas, Rush Street Interactive, Rivalry, theScoreBet, 888, Coolbear and Fitzdares. Annexio Limited will operate as Lottogo while NSUS Limited wi..

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BetMGM scores strategic partnership with SportsGrid

BetMGM scores strategic partnership with SportsGrid

BetMGM has entered into a strategic partnership with US-facing 24-hour sports wagering streaming network SportsGrid.

Under the agreement, BetMGM content will be integrated across SportsGrid’s original, live programming, supported by television and social media advertising.

Content will include BetMGM’s brand, odds and promotions, while SportsGrid will also have access to BetMGM’s trading team and brand ambassadors to create insider content for its network.

“SportsGrid is making big waves in the streaming world, creating a new avenue for fans to consume sports betting content,” BetMGM chief executive Adam Greenblatt said. “This collaboration allows us to further expand BetMGM’s reach to our fans through SportsGrid’s nationwide broadcast network.”

SportsGrid co-founder and president Louis Maione added: “We are proud to deliver real-time BetMGM data and intelligence to millions of sports fans. This relationship with a recognized leader in the industry helps us better super-serve the g..

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