BetMGM's Strategy to Boost NFL Season Betting Market

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Transcript

00:00All right, now on my social media feed, I am seeing a ton of BetMGM ads and some push

00:09to get me and other people online to bet on sports via their app.

00:14I know that you had a chance to speak to the CEO of BetMGM, and how is social media advertising

00:21compelling in terms of what they're trying to accomplish?

00:26Yeah, this is a really pivotal NFL season for a lot of sports betting apps, and especially

00:30for BetMGM, which has essentially done a pretty good job as you compare it to the rest of

00:36the market, but hasn't been able to get into that space that DraftKings and Fandle occupy,

00:41where they have about 75% of the market.

00:44So yeah, I caught up with the CEO, Adam Greenblatt, who talked about those partnerships with X

00:49and with the Associated Press, where they're really trying to be more kind of in the front

00:54and center of where the sports betting conversations are happening this NFL season, while leaning

00:59on a lot of technology advancements they've been able to make.

01:03So last year, it was kind of everyone wanted to show profitability, and now they're kind

01:07of trying to show how do we be more efficient, and how do we get to users, and how do we

01:11capture users in another spot?

01:13So the product seems to be in the best shape it's been yet.

01:16You have the enhanced same-game parlays, you have major upgrades in terms of player markets,

01:21in terms of live betting capabilities.

01:24And using those partnerships with X and the Associated Press, they're essentially trying

01:28to take these product enhancements and bring them to the front of the light, as opposed

01:32to having Jamie Foxx talk about sign-up offers on NFL commercials and everything like that.

01:37So it's been interesting to see and hear him talk about his vision and what he's learned

01:42has kind of changed as everything has developed.

01:45So they're really focused on growing the place that they're at now, as opposed to this big

01:50shotgun approach they had very early on, and trying to get that MGM to differentiate

01:56itself and get a foothold right there with the top operators.

01:59So it's been good so far, he says, we'll have to see how the rest of the season plays out.