BetMGM Partners with X to Introduce Sports Betting Statistics
LISTEN TO THIS ARTICLE:BetMGM, the online sports betting operator, has announced a partnership with X (formerly known as Twitter) that will see the social media site display sporting statistics on its platform.
Under the terms of the deal, X will provide detailed statistics of major sporting events worldwide, and there will be a link to the BetMGM sportsbook for punters to place a wager if they want. Currently, X social media has rules that state it does not allow the promotion of gambling content on its platform, which seems slightly at odds with this latest agreement.
Neither party has disclosed the financial details of the partnership, although BetMGM is running a promotion for new players via a link on its page on X. This is a significant deal for BetMGM, who expect this will raise awareness of the company brand and land a blow against its main competitors, FanDuel and DraftKings.
Deal Signed as Super Bowl Approaches
X attracts vastly increased customer traffic flow during major sporting events, and this latest agreement was reached two weeks before Super Bowl LVIII is due to take place. The Superbowl is estimated to reach a massive global audience, with up to 50 million people in the US having a bet on the outcome of the event.
The increase in viewers on the social media platform has caused the site to crash during the halftime show of a previous Super Bowl. BetMGM hopes it can convert some of these sports viewers into players who want to place a wager on the event itself.
Possible Regulatory Issues with Different Jurisdictions
There are some concerns that a major social media platform such as X having a partnership with a gambling company may cause gaming regulators in some regions to see this as a breach of legislation. Regulators are trying to reduce gambling-related harm and restrict gambling content from being available to minors, and this agreement may create a conflict with this.
There could be a range of compliance issues involved in the advertising of gambling and gambling-related products across multiple jurisdictions worldwide. These include some regulators who require age verification before gambling advertisements are permitted on online platforms, as well as the requirement in some regions that gambling adverts are restricted to certain time periods during the day.
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