BetMGM Expanding Once Again
MGM Resorts International is looking to continue its growth in the sports betting industry as it will be launching the BetMGM Sportsbook in two new markets. This update was provided by CEO Bill Hornbuckle earlier this week, and the expansion could happen in one state later this month.
Illinois is the first target for BetMGM, and the initial launch date was expected to be at the beginning of March. Hornbuckle expressed optimism that the launch could actually occur at some point in February, and this would allow BetMGM to be live in time for March Madness.
This could be a slow start for BetMGM in Illinois as that state still has in-person registration required. That restriction is set to go away in early March, and that is when BetMGM is expected to really take off in that state.
In order to gain entry into Illinois, BetMGM has partnered with the Par-A-Dice Casino. That online sports betting skin opened up after FanDuel Sportsbook left that casino after a short period of time.
BetMGM Sportsbook will also be planning to launch in Ontario on April 4 as that it is the first day that single-event sports wagering will be available. Ontario currently has a population of more than 15 million people and this could turn into a massive market.
Prior to 2020, most of the sports betting at BetMGM was done in Nevada, but that is no longer the case. This sportsbook is now available in 21 different markets around the world, and even more growth is planned in the future.
Already a Big Year For BetMGM
2022 has already been a huge year for BetMGM Sportsbook and things are just getting started. BetMGM was one of the first online sportsbooks to go live in New York, and it just recently launched sports betting in Louisiana as well.
New York has already become the top online sports betting market in the United States, and that was done without having a full month of betting available. It’s unclear how big the market in Louisiana will become, but BetMGM is expected to become a leader in that state.
Puerto Rico is actually the latest sports betting market for BetMGM Sportsbook as the launch just occurred this week. It’s unclear where BetMGM will target next, but there is no shortage of options.
MGM Resorts Making Money
2021 was a big year for MGM Resorts International and that is a big reason why it is being so aggressive with its online sportsbook. The net revenues for MGM Resorts was more than $3 billion in 2021 and the sportsbook played a big role in that number.
In terms of market share, BetMGM continues to be one of the three biggest online sportsbooks in the United States along with FanDuel and DraftKings. BetMGM is now available in more markets than its two biggest competitors and that could swing the balance in 2022.
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