Yahoo Sports and BetMGM strike multi-year gambling deal

Verizon Media has announced a multi-year partnership with BetMGM that will see the Yahoo Sports app integrate the gambling firm’s sports wagering products sometime in November.

Besides the confirmation that Yahoo will become the official Digital Media Sports Partner of MGM Resorts, specific details about the agreement are scarce.

Verizon CEO Guru Gowrappan told Sports Business Daily that Yahoo will serve as an affiliate by creating traffic for the BetMGM online sportsbook. It is unclear whether Yahoo will receive a share of the firm’s sports betting revenue.

The BetMGM sports betting products will only be available in states where it is legal and where BetMGM has a licensed sportsbook. As it stands, the only states that have BetMGM sportsbooks are Nevada and New Jersey, but that will change as the US sports betting industry continues to expand. The users in other states will be steered to fantasy sports and various free-to-play content.

BetMGM and Yahoo are also working together to create new content and marketing strategies, including Yahoo-hosted live events to be staged at MGM properties.

The partnership was met with positive quotes from the commissioners of the NBA and NHL – two sports leagues with which MGM has exclusive gaming partnerships. GVC and MGM disclosed their Roar Digital joint-venture in 2018, as they plan to launch sports wagering and online casinos in states where those actions are legal.

BetMGM New Jersey has not met expectations, with other operators soundly beating them when it comes to NJ sports betting revenue. BetMGM is hoping that their recent partnership with Yahoo will help them increase their customer base significantly.

Yahoo began with fantasy sports, but the company’s foray into that industry has not made much of a dent on the bigger firms. Yahoo Games closed in 2016 due to a lack of active users.

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