TAPPP, a New York-based technology and marketing company focused on customer acquisition and flexible consumer payment platforms, and BetMGM, a sports betting and iGaming operator, on Tuesday revealed an aggressive expansion of BetMGM’s gift card distribution network.
The two parties said the number of stores carrying BetMGM prepaid cards will roughly double during the current quarter, from approximately 6,000 to more than 12,000.
BetMGM’s partnership with TAPPP launched in September 2021. The operator said this helped attract a “vast group” of new customers, and provided existing customers with a fast, flexible option to fund their BetMGM accounts in states in which sports betting is legal.
Since its inception, the BetMGM gift card business has experienced a redemption rate of 99%, with nearly 75% of customers redeeming their purchases within just 2 hours.
BetMGM gift cards now are available in 12 states, including recent debuts in New York and Pennsylvania and upcoming launches in Wyoming and Mississippi.
This quarter’s expansion will push the distribution network further into the grocery segment, which the two companies described as a “vastly underutilized” retail space in sports betting prepaid cards, and within big box/home improvement retailers.
TAPPP said its API-driven platform provides real-time redemption data, which helps to drive BetMGM’s marketing and acquisition campaigns. Further, TAPPP noted it provides BetMGM with strategic support, payment servicing, and sales analytics, all of which help drive sales and customer retention, the company asserted.
“The launch of our prepaid sports betting card business has exceeded all expectations, and we are looking forward to even greater success as legal sports betting continues to enter new markets across the country,” Matt Prevost," Chief Revenue Officer of BetMGM, said in a statement. “The program’s expansion this quarter is the latest phase of our continued successful partnership with TAPPP to provide customers with an easy and responsible way to fund their BetMGM accounts.”
