Partnership Between Musk and BetMGM Confirmed Industry

Sports Betting Partnership Between Musk and BetMGM Confirmed

By Amelia Walker Senior Content Writer Updated: 21 February 2024

Amelia Walker Senior Content Writer

Amelia Walker is a Senior Content Writer at Betting.US. She has a law degree and deep knowledge of the gambling laws in the United States. Her mission is to keep players informed about responsible gambling, while her passion for sports helps her create useful guides. Amelia has over a decade of experience in betting, which has positioned her as a trusted voice among our readers.

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According to recent reports, Elon Musk’s social media platform, X, previously known as Twitter, has officially announced a strategic partnership with BetMGM, one of the leading online sportsbook operators. The confirmation of this collaboration comes after recent rumors that surfaced in late January.

While specific financial details of the deal remain under wraps, this landmark partnership marks the first-ever collaboration between a major social media platform and a prominent sports betting operator. As part of the agreement, BetMGM branding and betting odds will be integrated into X’s platform, with posts, now referred to as ‘xeets’, featuring links to the BetMGM sportsbook.

A Great Boost for BetMGM

BetMGM has already enjoyed huge success in the United States. By the end of 2023, the operator had established its presence in 28 North American markets, and it continues to grow.

The partnership with X could prove to be a huge boost for BetMGM, which recently reported a 36 percent increase in revenue for 2023, reaching $1.96 billion. Despite this positive growth, BetMGM still lags behind major competitors like DraftKings and FanDuel in terms of market share within the United States.

Competition among sports betting operators continues to increase, and it can be difficult for the average operator to compete with the likes of DraftKings and FanDuel. These operators usually dominate the sports betting markets in states across the nation.

However, the collaboration with X presents an opportunity for BetMGM to boost its visibility and brand awareness, which could help to narrow the gap with its rivals.

Recent research has highlighted the importance of a strong brand presence in the gaming industry, and this is an area where BetMGM aims to strengthen its position. This partnership could be the first step toward achieving this goal.

A statement from the two companies said that X users in the United States can:

Explore BetMGM’s latest betting odds on pro football, with each of the major professional and college sports expected to follow in the coming weeks. The odds interface provides an easy clickthrough for each game to BetMGM’s app or website, creating a seamless user experience.

With nearly half of X’s users seeking entertainment content and a large portion engaging with sports-related content, the platform provides an ideal environment for BetMGM to connect with its target audience. It was also noted that many X users follow companies and brands, further highlighting the potential for brand promotion.

Responsible Gaming Practices Encouraged

In a bid to address the importance of responsible gaming practices, both BetMGM and X are incorporating GameSense. This is a responsible gaming feature licensed by MGM Resorts from the British Columbia Lottery Corporation. This reflects their commitment to addressing concerns related to problem gambling as sports wagering continues to expand across the country.

The partnership between Elon Musk’s X and BetMGM is a huge development in both the social media and sports betting industries. It will provide both companies with the opportunity to enhance brand visibility, promote responsible gaming, and tap into a vast user base.