Yahoo Sports and BetMGM enter historic sports betting partnership
After the United States Supreme Court overturned a federal ban on sports gambling in 2018, it enabled individual states deciding whether to make sports betting legal, which in turn opened the market for sports betting operators nationwide.
Leagues have now embraced casino partners and have acknowledged that fans enjoy betting on their games.
The latest development in the sports betting journey within the United States is the announcement of a partnership between Yahoo Sports and BetMGM. Guru Gowrappan, CEO of Verizon Media and Jim Murren, Chairman and CEO of MGM Resorts International, announced that the two organisations have entered into a partnership to “power sports betting for Yahoo Sports and create collaborative content experiences and live events.”
The multiyear partnership will make Yahoo Sports the official Digital Media Sports Partner of MGM Resorts. The integration will be launched via the Yahoo Sports app, available on both Apple and Google Play, in November in the United States. Wagering transactions will take place on the BetMGM platform.
The National Basketball Association (NBA), National Hockey League (NHL), football, college sports, baseball, soccer, golf, and tennis will all be included in the integration.
“The historic partnership with Yahoo Sports and BetMGM will change the future of fandom, providing new ways for sports fans to go beyond engaging with content and interact through commerce,” Gowrappan said in a press release. “At Verizon Media we believe in building products that connect consumers to their passions and drive the deepest end-to-end value possible.”
In the partnership between the two parties, MGM will distribute Yahoo Sports content across its properties and platforms where Yahoo Sports will host multiple player events at MGM Resorts properties.
“This partnership marks an important moment for BetMGM in the growing U.S. sports betting sector,” Murren stated. “Integrating Yahoo’s leading fantasy sports operations and content with BetMGM’s world-class sports betting and interactive platform uniquely positions us to drive market share and large-scale adoption among sports fans.”
Some sporting leagues have already entered into partnerships
Sporting leagues the NBA and NHL have already entered into partnerships with MGM where commissioners of both leagues said in statements that the new Yahoo Sports partnership will be beneficial to their fans.
“As sports betting continues to transform the industry, this partnership brings together the power of two trusted partners of the NBA,” NBA commissioner Adam Silver said. “By working together, MGM Resorts and Yahoo Sports will offer fans unprecedented ways to engage with our games.”
“The expanding sports betting landscape presents exciting opportunities to increase fan engagement and leverage emerging technologies,” NHL commissioner Gary Bettman said. “MGM Resorts, a valued partner of the NHL, along with Yahoo, a leading media brand, will connect fans to the action on the ice in new and innovative ways.”
MGM Resorts has signed betting partnerships with the NBA, NHL, Major League Baseball (MLB), and Major League Soccer (MLS). Yahoo Sports now joins Fox Sports as two major U.S. sports media organisations to offer sports betting on their mobile platforms, Yahoo has chosen to integrate its app with Roar Digital’s sports betting platform, while Fox developed its own betting app in Fox Bet.
The deal is anticipated to streamline Yahoo Sports users’ ability to make a wager via the platform, which attracts 60 million users a month and is also heavily used by fantasy players. Yahoo Sports have seen a 68% growth in U.S. mobile-app visitors year-over-year.
“We have tens of millions of users engaging through Yahoo Sports and Yahoo Fantasy,” Gowrappan said. “Yahoo and BetMGM will provide fresh content and wagering opportunities, where legal, to Yahoo’s built-in fan base.”