Updated February 10th, 2024 at 16:13 IST
Elon Musk's X enters sports betting space through partnership with BetMGM
BetMGM announced on Friday a collaboration with X to serve as the platform's exclusive provider of live sports betting odds.
X enters sports betting: In a move just ahead of the Super Bowl kickoff, X, the social-media platform owned by billionaire Elon Musk, formerly known as Twitter, has ventured into the sports gambling arena with a new partnership.
BetMGM announced on Friday a collaboration with X to serve as the platform's exclusive provider of live sports betting odds. As part of the agreement, X will incorporate BetMGM's betting odds and branding, with each game linking directly to BetMGM's website and app for users to place wagers where permitted by law.
The integration allows X users in the US to access the latest betting odds on NFL pro football, with additional coverage expected to extend to major professional and college sports in the upcoming weeks. BetMGM stressed that the odds interface offers a seamless experience, enabling users to effortlessly transition to BetMGM's platform.
Adam Greenblatt, CEO of BetMGM, expressed enthusiasm about the partnership, stating, "X is the centre of the sports world’s conversation... Being directly accessible within that forum is an unprecedented opportunity to expand our reach to a passionate and engaged audience."
X CEO Linda Yaccarino echoed the sentiment, highlighting the platform's role as a hub for sports enthusiasts. She said, "Sports never sleep on X and now with our strategic partnership with BetMGM, fans are practically in the front row."
BetMGM, a joint venture between MGM Resorts International and Entain, holds exclusive rights to MGM's US land-based and online sports betting, along with major tournament poker and online gaming businesses.
Musk's acquisition of Twitter, rebranded as X, has faced challenges since its completion in 2022. Musk, the world's wealthiest individual, has acknowledged overpaying for the platform and has implemented changes aligning with his vision of a "free speech" platform. However, X has encountered a decline in advertising revenue, attributed to concerns over hate speech and misinformation.
In response, Musk has proposed introducing a subscription model for X, aiming to combat issues like bot activity while preserving user engagement. The platform initiated tests to charge users a nominal fee for posting content.
Published February 10th, 2024 at 16:13 IST