BetMGM's Tech and Football Betting Boost Hopes for a Comeback

BetMGM is looking to bounce back in the gaming market by banking on new technology and the popularity of football betting. The company, now the third largest U.S. sportsbook, has lost some ground in sports gambling and online casino gaming, where it once led the pack. CEO Adam Greenblatt believes new tech like Angstrom, which uses AI for data analytics, will attract more customers. This year, BetMGM saw a 209% increase in MLB home run betting thanks to Angstrom.

In Nevada, BetMGM introduced a single digital wallet for betting, making it easier for customers to manage their winnings. This has already shown positive results this football season. Greenblatt reported a 125% increase in first-time depositors in Vegas for NFL betting. Moreover, over 50% of these new players continue to use BetMGM when they return to their home states. Despite slipping to third place in the online casino segment, Greenblatt remains hopeful. He noted that players are returning more frequently and staying engaged. BetMGM is aiming to reignite its momentum by leveraging innovative tech and the draws of major sports events.

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