Yahoo Sports and BetMGM Form Exclusive Partnership

Yahoo Sports and BetMGM Form Exclusive Partnership

The sports betting landscape in the United States has drastically changed since the Supreme Court decision in May of 2018 that allowed states to choose whether they want to legalize wagering on sporting events.

For more information on betting legislation in the US check out: “PASPA Supreme Court Decision: Everything you need to know“.

Since that historic decision, the gambling industry has seen a wide variety of partnerships, including many between sports leagues and betting operators.

Now, that extends to media websites and gaming companies with the announcement that Yahoo Sports and betMGM are entering into an exclusive agreement that puts MGM in charge of wagering on the popular website.

The multi-year agreement allows Yahoo Sports to call themselves the official Digital Media Sports Partner of MGM Resorts. Starting in November, the Yahoo Sports app will offer betting to customers in states where wagering has been legalized.

The agreement will allow MGM to offer all professional and collegiate sports, including the NFL, NBA, NHL, and MLB games plus soccer, golf, tennis and a host of other popular sports from around the globe.

Yahoo Sports, owned by Verizon Media, becomes one of the first sports information sites to offer betting through their numerous platforms, something Guru Gowrappan, CEO of Verizon Media is excited to explore.

“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.”

Source: verizon.com

For MGM Resorts International, the partnership expands its reach among sports fans and makes their BetMGM app, a one-stop-shop for bettors who wants to place wagers and tap into Yahoo’s vast information resources.

“This partnership marks an important moment for BetMGM in the growing U.S. sports betting sector,” Jim Murren, CEO of MGM Resorts International said. “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.”

Source: verizon.com

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Why Does the Partnership Have the Blessing of Sports Leagues?

One of the more interesting side effects of the partnership is the response from professional sports leagues such as the NBA and NHL, both of whom celebrated the agreement as a positive for the future of sports betting.

Both leagues have entered into business arrangements with MGM Resorts in a variety of revenue-generating streams, leaving the commissioners of the NBA, Adam Silver, and the NHL, Gary Bettman, eager to see how the partnership will enhance the fan experience.

“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.”

Source: sports.yahoo.com

For Bettman, the agreement is about utilizing sports betting as an exciting accent for more fans enjoying the content that the NHL offers during their season.

“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.”

Source: sports.yahoo.com

With both the NBA and NHL in the early section of their schedule, the BetMGM and Yahoo partnership will give bettors a new alternative to place their wagers in an ever-growing field.

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