Yahoo and BetMGM Agree to Historic Sports Betting Partnership

In just over a year, sports betting has been overturned into legality, states have legalized and regulated the industry, multiple states are currently operating land-based and sports betting apps. Now, Yahoo Sports is involved.

It’s all happening!

Two of the largest media companies in their respective industries are partnering together to tackle sports betting head on. Yahoo Sports and BetMGM have agreed on a historic partnership that will alter the landscape of the sports betting industry.

What Does It Mean?

Officially, this is a partnership between Yahoo Sports and MGM Resorts, making Yahoo the official “Digital Media Sports Partner” of MGM Resorts.

In the Yahoo Sports app, BetMGM will be integrated and it will allow betting to occur directly from the app. Essentially, Yahoo Sports is a massive affiliate for BetMGM. Currently, BetMGM is only available in Nevada and New Jersey via online sportsbook and online casino, but other states are expected to follow.

Sports included:

• NBA
• NHL
• NFL
• NCAAF
• MLB
• Soccer (UCL, Premier League, etc)
• PGA
• Tennis

Guru Gowrappan, who is the CEO of Verizon Media (Yahoo) was quoted:

“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. At Verizon Media we believe in building products that connect consumers to their passions and drive the deepest end-to-end value possible.”

In return, Yahoo Sports will have its content all over MGM properties, and Yahoo Sports is also permitted to host live events at MGM Resorts. This is a monumental partnership, and certainly a benchmark for things to come. So far, it’s just Fox Sports and the Stars Group (Fox Bet) and now Yahoo Sports and BetMGM.

Jim Murren, CEO of MGM Resorts, said:

“This partnership marks an important moment for BetMGM in the growing U.S. sports betting sector. Integrating Yahoo’s leading fantasy sports operations and content with BetMGM’s world-class sports betting and interactive platform uniquely positions us to drive market share and large-scale adoption among sports fans.”

With Yahoo and BetMGM partnered together, customers can expect a plethora of information from both sides on each other. When on the Yahoo App, expect to see BetMGM. When at BetMGM properties or online, expect to see lots of Yahoo Sports content. It’s a win-win for both sides, and customers may be able to attend these live events promised at BetMGM Resorts.

The NBA and NHL

Previously, both the NBA and NHL have partnered with MGM and both commissioners are already on board.

NBA commissioner Adam Silver expressed his delight:

“As sports betting continues to transform the industry, this partnership brings together the power of two trusted partners of the NBA. By working together, MGM Resorts and Yahoo Sports will offer fans unprecedented ways to engage with our games.”

NHL commissioner Gary Bettman shares that view:

“The expanding sports betting landscape presents exciting opportunities to increase fan engagement and leverage emerging technologies. MGM Resorts, a valued partner of the NHL, along with Yahoo, a leading media brand, will connect fans to the action on the ice in new and innovative ways.”

Why Make This Deal?

For Yahoo, it is a terrific way to enter the sports betting industry without having to be fully involved in becoming an operator. Licensing fees, developing an app, partnering with providers and more will have to happen. This way, Yahoo gets a piece of it by siding with BetMGM, who already has all of the above handled.

For BetMGM (and any other sportsbook), all that matters is eyeballs and users. Partnering with Yahoo Sports allows them to be seen by millions of eyeballs each month, from the daily fantasy app, to the seasonal fantasy platform and of course the sports section of Yahoo, Yahoo Sports.

All quotes originally from Yahoo Sports news post.