BetMGM Getting Into Gift Card Game, Available in Select States

BetMGM proclaimed today that it’s making gift cards available inwards select states where the gaming manipulator is unrecorded and legal.

The iGaming and online sportsbook companionship is partnering with New York-based payments provider TAPPP to tender gift cards. The intelligence arrives simply ii days before the bulge out of the 2021 NFL season.

BetMGM gift cards are now usable inwards $25 and $50 denominations inward eighter from Decatur states at over 6,000 locations crosswise the country,” according to a statement released past the gaming company.

Available at retailers such as Dollar General, Kum & Go, Sheetz and Speedway, the BetMGM gift cards feature a $10 bonus. While the gift identity card programme is currently modified to eighter states, BetMGM offers mobile sports wagering in a dozen states and Washington, DC. That fig includes Arizona, where sports betting is slated to tour live this week.

Sports Betting, Gift Cards: An Ideal Pairing

For BetMGM, the gift scorecard ploy could live well-timed on multiple fronts. First, as noted above, the 2021 NFL cause commences on Thursday.

Second, the holiday shopping flavour will shortly arrive. In any presumption year, nearly 75 percent of shoppers purchase at to the lowest degree 1 gift scorecard inwards the 4th quarter, and a majority purchase at to the lowest degree two. With more states lately entering the unrecorded and sound sports betting fray, the potential audience for BetMGM gift cards is growing at the optimal time of year.

The operator isn’t the first-class honours degree to let into the gift identity card racket. Just before in conclusion Christmas, DraftKings and InComm Payments formed a gift scorecard deal, cover some of the same retailer as the BetMGM/TAPPP pact, including Dollar General, Sheetz and Speedway.

The DraftKings gift cards can buoy follow used to fund accounts at the operator’s net casinos. BetMGM didn’t say if its corresponding offering is eligible for utilization at its online casinos. In the states where it’s operational, BetMGM holds a dominant iGaming market share.

For BetMGM, Big Gift Card Opportunity

In the intensely competitive sports betting space, client holding is paramount for operators. One avenue for that is making gap and funding accounts easier. Gift cards could follow an boulevard for accomplishing that objective.

Indeed, gift cards are openhanded business, specially online cards. Sales of gift cards at brick-and-mortar are rising at a hexad percent snip per year. But that’s dwarfed by the rapid speedup inwards the online market. In the tertiary quarter, retailers sold 114 percent to a greater extent digital cards than inwards the year-earlier period, while revenue generated increased 65 percent, according to Rise.ai Inc.

BetMGM, a partnership between MGM Resorts International and Entain, doesn’t bring up e-gift cards inward its statement. The comparable DraftKings offering is only if useable at physical retail stores.

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