The nascent United States sports betting market has already broken lots of records and it is certainly bound to reach even greater heights. Since the United States Supreme Court lifted the federal ban sports betting in May 2018, the sector has grown immensely. This is mostly thanks to the involvement of a number of stakeholders including gambling companies, professional sports leagues, and even media companies. Sports media companies are perhaps the most interesting lot of the branch and their choice to lean into gambling content is very bold.
Verizon’s Yahoo Sports is the most recent sports media company to set its sights on the budding sports betting industry in the United States. In the past week, the media company unveiled a BetMGM-powered Yahoo Sportsbook as an add on to their main app. While people from all around the country will be able to view odds on games on the app, currently only sports bettors in New Jersey can place wagers within the app. The company, however, plans to roll out the sports betting feature to other states along the way.
Capitalizing on Existing Customer Bases
Rather than opting to build a totally different app, Yahoo Sports chose to add the sports betting features to its existing app in order to make it much easier to market the product to existing customers. Sports betting is certainly not everyone’s cup of tea but the new offering is expected to make waves in the New Jersey online sports betting space which is one of the most lucrative ones in the US.
Sports fans in New Jersey of the legal gambling age will now be able to enjoy the games they know and love in a totally new way.
“Yahoo Sportsbook powered by BetMGM elevates the experience for sports fans, getting them closer to the games they’re passionate about and closing the loop from content to transactions,” reads the Yahoo Sports.
To mark the launch of the new sports betting product, Yahoo Sportsbook is offering a promotional offer. This is set to grab the attention of the native app’s users as well as a number of new customers. The promotional offer gives players a whopping $100 in free bets on MGM when they deposit $10.
The sportsbook is just a small piece of the multi-year partnership deal between Yahoo Sports and MGM Resorts International. This partnership now allows users of the Yahoo Sports app to bet on nearly all professional sporting activities. All the transactions for these bets will be done via the BetMGM platform.