In an exclusive report from Fortune, it was found that social media platform X (formerly Twitter) will be partnering with BetMGM to bring sports betting statistics and odds to the social media platform.
While the details of the deal have yet to be finalized, according to Fortune’s report, ‘the intention is to introduce a feature for X soon that will showcase betting odds and provide a direct link to BetMGM, allowing users to place bets.’
The move is one of many made by X owner Elon Musk, who has introduced a variety of features to the social media app. The choice to introduce betting odds to the platform comes weeks before the upcoming US Super Bowl, with millions of Americans tuning in annually.
Last year, Kambi reported that the Super Bowl was its second-highest turnover event of all time, while GeoComply was able to record over 100 million betting transactions during the Super Bowl weekend.
Integrating BetMGM’s sports odds statistics into the X platform may come with challenges, it was noted by Fortune. During last year's Super Bowl, the site crashed during the half-time show, with Musk emailing staff to change priorities from new feature development ‘in favor of maximizing system stability and robustness, especially with the Super Bowl coming up.’
BetMGM is the collaborative project of MGM Resorts and Entain. However, following the exit of CEO Jette Nygaard-Andersen, it has been speculated whether MGM Resorts will opt to take full control of the company. BetMGM has expressed confidence in its guided 2023 revenue of $1.8bn-$2.0bn, with CEO Adam Greenblatt noting how updates such as the integration of Angstrom tech to provide an ‘infinite combinations of bets’ for players will allow for the company’s continued development.
We spoke with Greenblatt in a previous edition of The Huddle.
The financial terms, along with the date of when these new features can be expected, have yet to be announced publicly.
