Only live in one state
Verizon Media-owned Yahoo Sports has taken its first steps into the sports betting space. A new section that has been added to the Yahoo Sports website showcases odds for all the sporting events that can be bet on.
While bets cannot yet be made directly through the Yahoo Sports platform, Yahoo Sports has teamed up with the MGM Resorts International’s BetMGM sportsbook to offer a betting service.
The Yahoo Sportsbook, developed in partnership with BetMGM, was launched on Thursday. It integrates sports betting into the Yahoo Sports desktop and mobile platforms.
Expansion down the line
For the moment, Yahoo Sports wants to solely focus on states with legal mobile sports betting, such as New Jersey. However, Verizon said upon launch that the Yahoo Sportsbook will
soon become available to fans in other states where sports betting is legal.”
A special promo has been launched by Yahoo Sports to try and incentivize people to sign up for an account with BetMGM. This will see bettors receive sizable free bets in return for making a deposit of at least $10.
Yahoo Sports users in the United States will still be able to see the odds on offer, but they cannot place any bets directly.
This partnership agreement between Verizon Media (Yahoo Sports), Roar Digital (a partnership between GVC Holdings and MGM Resorts) and MGM Resorts is a multiyear deal. Further plans are in the works to expand the content and betting options that are available.
MGM Resorts will also be distributing Yahoo Sports content across its various platforms and properties. There will also be Yahoo Sports-themed events taking place at different MGM Resorts locations across the country.
Reaction to this historic partnership
Guru Gowrappan, CEO of Verizon Media, has spoken about this new deal. He said: “The historic partnership with Yahoo Sports and BetMGM will change the future of fandom, providing new ways for sports fans to go beyond engaging with content and interact through commerce.”
The MGM Resorts CEO, Jim Murren, believes that integration of Yahoo Sports content and operations will help BetMGM to drive up market share and adoption from sports fans.
Yahoo Sports attracts 60 million unique US users each month
BetMGM already has a similar multiyear deal in place with the Buffalo Wild Wings franchise.
Verizon figures state that Yahoo Sports attracts 60 million unique US users each month and users of the Yahoo Fantasy Football offering spend a total of 9 billion minutes using the platform each year.