A Strong Foundation for Success

For those who are not aware, BetMGM is a joint venture that equally shares its strengths between MGM Resorts International and UK-based Entain. BetMGM brand falls under the same network as its sister brands Party Casino, Borgata Online, and Party Poker. Currently, BetMGM is ranked as the third-largest online sportsbook operator in the US, just behind FanDuel and DraftKings.

On the other hand, X, which was founded in 2006 as Twitter and acquired by Musk in October 2022 for $44 billion, underwent a name change in July 2023. In 2023, X boasted approximately 556 million active monthly users, with a staggering 6.1 billion visits per month, showcasing its massive global reach and influence.

This potential agreement with BetMGM aligns perfectly with Elon Musk’s strategy to diversify X’s revenue streams. Musk’s innovative approach has already introduced new revenue models, such as subscriptions and licensing deals, including a monthly fee for the coveted blue checkmark.

The Context of the X and BetMGM Deal

As per Fortune’s report, Elon Musk’s X is set to enhance the sports betting experience by displaying gambling statistics on the former Twitter platform through BetMGM.

While specifics of the deal remain undisclosed, it’s anticipated that X will not only showcase betting information but also provide direct links to BetMGM’s gambling platform, seamlessly integrating betting into the social media experience.

Considering that BetMGM also has streaming rights to some sports games in their betting app, there might also be a possibility of seeing a tailored X feed inside their app. However, keep in mind this is purely speculation.

BetMGM has already established a strong presence on X, with more than 310K followers. This platform has become a haven for betting enthusiasts, where they can share picks, display bets, and engage in discussions about major sporting events like the Super Bowl.

The American Gaming Association estimated that over 50 million people wagered an astounding $16 billion on the NFL’s major event in 2023, which reflects the enormous popularity of sports betting in the US. This statistic underscores the vast potential of the sports betting market that BetMGM and X are tapping into.

This collaboration between X and BetMGM is not merely a business deal but a pioneering move that reshapes how social media and online betting intersect.

Which Social Media platform will integrate Betting Next?

We are likely to see online betting rapidly increase if more social media platforms start to partner with betting platforms like X and BetMGM.

Sports betting is now operating in 39 jurisdictions in the United States since the 2018 Supreme Court decision that allowed states to legalize sports betting individually.

This shift towards online betting has fostered innovations such as in-play betting and cash-out functions, transforming the betting experience into a more dynamic and interactive activity​​. The next social media platform to integrate online betting will likely have a strong engagement with sports content.

Given the current trends, platforms like Reddit, Instagram, or Facebook, with their large user bases and diverse demographics, could potentially offer unique opportunities for integrating live betting experiences.

This is particularly relevant given the growing integration of sports betting and media, as recently seen in partnerships between betting operators and sports leagues, teams, and media organizations​​.

Considering the ongoing drama between Elon Musk and Mark Zuckerberg, it’s not unlikely that a competitor to BetMGM will approach Meta with something similar.

Our opinion at Online Gamblers is that we will likely see Threads or YouTube launch a betting feature in the near future.

As we watch this partnership unfold, it’s clear that both X and BetMGM are setting the stage for a new era in online gambling, promising an enhanced and interactive experience for users worldwide.

Stay tuned as these two giants lead the way into an innovative and exciting future!

The Importance of Responsible Gambling

However, the integration of betting into social media raises concerns about responsible gambling, especially considering the potential harm of online gambling.

Studies have shown that online gamblers are at a higher risk of problem gambling compared to offline gamblers, with online poker players being two or three times more at risk.

The broad range of digital gambling marketing, from online gambling websites to social media advertising, can influence gambling behaviors, particularly among younger audiences who are highly active on the internet and social media​​.

The focus on responsible gambling education is therefore crucial to avoid these risks. This includes educating sports bettors and the general public about understanding the odds, setting limits, and recognizing the signs of problem gambling.

Betting operators, regulators, sports organizations, and educational institutions play a vital role in promoting responsible gambling practices.

For instance, betting operators can provide educational resources on their platforms, while sports organizations can incorporate responsible gambling messaging into their events and promotional materials.

At Online Gamblers, we, as affiliates, are committed to guiding Americans in safe and legal gambling practices.

Additionally, collaborations between educational institutions and the sports betting industry can lead to targeted educational programs for young people, raising awareness about the potential risks associated with sports betting​​​​.

Overall, the integration of online betting into social media is an emerging trend that offers both opportunities and challenges. While it can enhance the fan experience and potentially increase engagement on social media platforms, it also necessitates a strong focus on responsible gambling practices to ensure a sustainable and healthy betting ecosystem.