MGM gets into US sports betting business!
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The “Alliance of American Football” (AAF) started the first football season as an alternative to the US National Football League (NFL) in early 2019. But the NFL competition was too big and the new US league had to file for bankruptcy after numerous investments. The US Casino operator MGM Resorts International now saw the chance to make big profits for small money. Because for an almost ridiculous sum, the company secured a modern app that was developed by the AAF for a million sum. For MGM, this could be the breakthrough on the US sports betting market.
MGM acquires the app for $ 125,000
After it is now clear that in the United States too Private sports betting in all US states will be allowed, there is plenty of money in the USA for many companies. But the competition on the billion -dollar sports betting market it is huge, which is why the numerous providers have to think about how they can develop a kind of unique selling point. the great american casino operator MGM Resorts International Apparently has a specific plan in this regard. Because the huge group recently bought an app that was originally developed by the AAF. Overall, MGM paid “only” $ 125,000 for the application, a bargain given the immense development costs. these are over 40 My. us-dollar! In total, over 50 different software developers are said to have been involved in the programming and designing of the app. The effort was huge, but why the whole thing? What special features does the app have to offer?
So some! In fact, the app, which defines itself as a sports betting app, is able, the users Real -time data about players and teams To deliver, sometimes even biometric data records. Thanks to a real -time delay of a few seconds, users can bet on play events promptly. So far, sports betting apps with such a functionality have not existed. MGM Resorts International has therefore invested in an app that should not offer the company a little advantage on the sports betting market.
MGM is investing massively according to the new gambling law
Apparently MGM does not only plan investments at the technical level. Because not too long ago the casino and hotel operator has numerous Contracts with the great US sports leagues closed. the key point of the contracts is in particular sponsorship activities. mgm can also cost a lot here: overall should All in total amount of $ 130 million to the National Hockey League (NFL), the National Basketball Association (NBA) and the Major League Baseball (MLB) have flowed. Of course, MGM also wants to see a lot. In an official press release it says:
“As part of the partnership, MGM Resorts will use official NBA and WNBA data and branding information (…) for all land-based and digital sports betting offers from MGM Resorts in the USA. MGM resorts are advertised in all digital assets of the NBA, including NBA TV, NBA.com, the NBA app and the NBA social media platforms. In addition, the NBA is advertised on the sports betting platforms of MGM Resorts. ”
MGM is currently expanding its gambling portfolio with an urge to drive, especially in the digital area. The aim is to go to the very young legal US sports betting market as Number one provider for digital sports betting in the USA to establish, and that, so to speak, from the beginning. ultimately, the american supreme court only had the famous one in may last year spa, the “Professional and Amateur Sports Protection Act”, tipped and paved the way for new gambling laws in the individual states.
US gambling market highly competitive
The competition has long since flared up. With the innovative sports betting app, however, it is already clear that MGM Resorts International Marktvorteil will have. however, at least in the area of sports betting, us providers are not yet too broad. currently only six providers are represented on the market, including mgm Wynn, Betstars, Fanduel, William Hill and 888 Sport. however, the competition apps cannot keep up with the app acquired by mgm, even if there are certainly still some adjustments. at least the technical basis is available and the competition is technically far ahead of the competition. however, it should be borne in mind that the new legal situation on gambling has not yet been fully clarified in all us states. most legal texts allow private gambling, but not digital, but only in stationary betting shops in the respective state. with sports betting apps, however, national borders would definitely be exceeded. so far only have West Virginia, New Jersey, Delaware and of course Las Vegas Voted sports betting via law about smartphone applications. Before MGM Resorts can play its market advantage internationally, there are still a few legal hurdles.