Streaks and BetMGM Partnership: a Win-Win for Players and Platforms

Streaks has partnered with BetMGM, one of the most recognizable brands within the burgeoning sports betting industry. Streaks contests allow users to learn about teams and players while predicting game outcomes, and successful Streakers will now be presented with offers that they can use to cash in their knowledge with BetMGM.

BetMGM is the sports betting division of MGM Resorts International and is a joint venture with Entain Holdings, an FTSE 100 company listed on the London Stock Exchange. Entain operates several successful consumer-facing brands within the betting industry, including Ladbrokes Coral, Bwin, and PartyCasino. Entain recorded revenue of $5.12 billion for 2021, an increase of 7.6% from 2020, thanks in large part to the growth of their online platforms. BetMGM helped Entain drive revenue in North America, earning a 29% market share in the sports betting market by the end of the fourth quarter of 2021.

The deal between MGM Resorts and Entain was made official in July 2018, shortly after the U.S. Supreme Court struck down the PASPA sports betting ban. BetMGM quickly grew in 2019 by opening Moneyline Sportsbook at Borgata and becoming the exclusive sports betting partner of Buffalo Wild Wings and Yahoo Sports. In 2020, BetMGM started announcing exclusive betting partnerships with professional sports teams such as the Denver Broncos (NFL), Detroit Red Wings (NHL), Washington Nationals (MLB), and Philadelphia 76ers (NBA). In 2021, they agreed to terms with Madison Square Garden Sports (owners of the New York Knicks and Rangers) to take advantage of the 2022 launch of mobile sports betting apps in New York State, which is now the largest sports gaming market in the United States.

"BetMGM is well positioned to earn a lion's share of the maturing American sports betting market," said Streaks Chief Marketing Officer David Raphael, "and Streaks can help them continue to expand by augmenting their mobile gaming offerings with our unique platform."

Streaks will be able to function as a developmental league (like Triple-A baseball or the NBA G League) for BetMGM, where players can hone their skills before taking the leap to the big leagues. To continue the analogy, Streaks will provide our player base with coaching and then cheer them on when they play with the professionals, confident that they have a leg up on the competition. And we fully expect our Streakers to flourish into All-Stars!

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