BetMGM is Now One of the Biggest US iGaming Operators

BetMGM has risen to become one of the largest iGaming operators in the United States in a short period since its launch. A joint venture between MGM Resorts International and Entain has been fruitful. And now, BetMGM has capitalized on the growing legal sports betting and online casino markets in America through strategic expansion and partnerships.

BetMGM first launched the BetMGM sportsbook in 2018 in New Jersey as one of the early entrants into the fledgling US market. Since then, it has gained market access in over 20 states through direct licensing or affiliate deals. This nationwide presence has helped fuel its rapid growth over the past few years. In its most recent earnings report, BetMGM revealed net gaming revenue of over $944 million for the first half of 2023, up 55% year-over-year.

BetMGM’s integrated land-based and online strategy is a major contributor to its success. As one of the few US operators with a prominent “offline” casino presence through MGM Resorts, BetMGM can efficiently cross-promote its digital products to existing customers. Partnerships with MGM properties have allowed BetMGM kiosks and betting lounges to be placed within casinos, driving additional sign-ups.

Expansions and iGaming Domination

BetMGM has also established itself as a leader in iGaming, currently holding a big chunk of the market share in the US online casino industry. The company was among the first operators to launch an online casino in New Jersey and has since expanded its iGaming product to additional states that have legalized online slots and table games. As more states regulate online casino gambling, BetMGM is well-positioned to continue growing this division of its business. Read this BetMGM review by Carl Mansson to learn more about the operator.

Looking ahead, BetMGM’s dominance in sports betting and iGaming could give it a strong position when online poker is eventually regulated federally or accepting even more individual states. As one of the largest online gambling companies already invested in the US online poker market, BetMGM would likely be one of the primary operators offering online poker should regulations change. Therefore, it comes as no surprise some analysts believe BetMGM could quickly gain a sizable market share of online poker in the US. Similar to its sportsbook brand recognition and customer base.

Ready for the Poker Run

While online poker regulation remains uncertain, BetMGM seems to be preparing for this eventuality. The company partnered with partypoker in 2021, which already powers BetMGM’s real-money poker product in regulated international markets. Integrating partypoker’s technology and player liquidity into a US-facing offering would give BetMGM a major head start versus competitors. They already operate in Michigan, New Jersey, Ontario and Pennsylvania, but will for sure be ready to operate in all the legal states when the legislation evolves.

In summary, BetMGM has rapidly grown to become one of the largest iGaming companies in the US through strategic expansion in sports betting and online casinos. This success positions the operator well to potentially dominate online poker too should it become fully legalized in the coming years. With a nationwide presence, integrated land-based strategy, and well-known online poker platforms already in its portfolio, BetMGM appears well-prepared to transition players to online poker when regulations allow. As the US online gambling market continues maturing, BetMGM looks primed to be one of the primary beneficiaries.

BetMGM is Now One of the Biggest US iGaming Operators

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