BetMGM Reportedly Explores a Potential Partnership with X

X, the social platform formerly known as Twitter which is now owned by Elon Musk, the globally recognizable entrepreneur, investor and businessman behind SpaceX and Tesla, is reportedly in talks with the leading sports betting and iGaming company, BetMGM. Last week, a report released by Fortune suggested that the betting and online gambling operator is considering options for a partnership with X.

The latest announcement comes some two weeks ahead of the Super Bowl LVIII, one of the most-anticipated National Football League (NFL) events for the year. The 2024 Super Bowl LVIII is scheduled to take place at Allegiant Stadium in Las Vegas, Nevada.

The recently released report suggests that BetMGM is exploring a partnership that will see the addition of sports betting odds to X. In addition to sports betting odds, X may soon be able to promote BetMGM by featuring a direct link to the sportsbook. This will help more users to familiarize themselves with the brand.

The potential partnership is expected to bring benefits for the two companies. Namely, BetMGM will be able to reach new customers. On the other hand, X users will be able to engage in accessing odds during live events while the platform will tap into a new revenue stream.

The Deal Will Help Diversify the Platform’s Revenue Streams

Currently, X is renowned for its popularity, especially during live events. This is why the potential partnership does sound reasonable and is expected to benefit the duo. During the halftime show of the Super Bowl last year, X crashed due to heavy traffic, media reports confirmed at the time.

While the collaboration may help BetMGM engage with new bettors and sports fans, it also complements one of Musk’s goals for X which is to diversify the platform’s revenue streams. Besides advertising, currently X benefits from subscriptions but the platform also relies on innovations which is precisely the collaboration with BetMGM.

As one of the leading sports betting and iGaming operators in the US, BetMGM currently has a presence in more than a dozen states. The company is a joint venture between industry giants Entain and MGM Resorts International and has established a strong footprint among bettors across the country.