BetMGM is the only sports betting app allowing Nevada residents and visitors to bet and carry funds to other states where the Entain-MGM Resorts joint venture is active, the operator said in a press release today (22 August).
“We’re proud to lead the charge in Nevada with a single account and wallet that simplifies and elevates the betting experience,” BetMGM chief executive Adam Greenblatt said.
“Our players can now immerse themselves in the excitement of MGM Resorts’ Las Vegas destinations or statewide while seamlessly continuing to place wagers in other BetMGM markets.”
Nevada requires customers to register in-person for betting accounts, meaning they can complete the process at one of MGM Resorts’ properties throughout Las Vegas. When they open the app in a new state, a popup gives them the option to switch to that sportsbook. BetMGM is currently live in 29 states across North America.
BetMGM Takes Vegas
It comes as BetMGM puts increasing emphasis on Las Vegas as it looks to leverage the omni-channel opportunities from MGM Resorts properties such as the Bellagio and the Cosmopolitan.
In BetMGM’s trading update for the first half of the year, released in July, Greenblatt talked up the single digital wallet as a key element of its strategy to “unlock” Las Vegas. The brand was featured heavily around Vegas ahead of Super Bowl LVIII. Around the NFL’s February showpiece BetMGM signed up new players at “encouraging” cost per acquisition rates, he said.
That month a new mobile sportsbook launched in Nevada, featuring new prop and parlay markets powered by Angstrom Sports, the sports modelling specialist acquired by Entain in July last year. A number of additional product enhancements will go live ahead of the NFL season in September.
Greenblatt first highlighted Sin City’s potential at the Morgan Stanley Global Consumer and Retail Conference in December 2023. He told delegates recruiting a player in Vegas cost less than a third of CPA on the open market, adding those players were 130% more valuable.
Single digital wallet goes beyond betting?
And soon, players in Nevada may be able to use their wagering accounts for non-gaming purchases.
The Nevada Gaming Control Board (NGCB) held a workshop Wednesday (20 August) this week to discuss allowing gaming wallets to spend at restaurants, retail outlets and other on-property amenities.
This follows a request to the board to use the wallet similar to fund debit purchases in partnership with a bank. However an amendment restricts spending to outlets in a casino, writes Buck Wargo for CDC Reports.
