Social network X, formerly known as Twitter, is set to introduce a novel feature allowing users to engage in sports betting. The platform, under the ownership of Elon Musk, has partnered with BetMGM, a subsidiary of MGM Resorts International specializing in online sports betting.
MGM Resorts International and BetMGM Creation
MGM Resorts International, a prominent Las Vegas-based hotel company with a $15 billion valuation in 2018, is the parent company of BetMGM. The collaboration began in 2018 when MGM Resorts International announced a partnership with British bookmaker GVC Holdings, leading to the establishment of BetMGM. The primary objective was to capture the American sports betting and online gaming market.
Details of the Social Network X and BetMGM Partnership
The specific terms and conditions of the collaboration between social network X and BetMGM remain undisclosed. Sources suggest that the primary aim of this partnership is to introduce a new feature on the X platform, displaying betting odds for various sporting events and providing direct links to the BetMGM service.
Strategic Move Before Super Bowl
The collaboration between the two entities commenced shortly before the Super Bowl, the National Football League’s final game determining the season’s champion, notes NIX Solutions. It appears that both companies are gearing up to unveil the online betting feature before this high-profile event, scheduled in two weeks. Notably, during the 2015 Super Bowl, a record-breaking 28.4 million tweets were posted on Twitter. However, disruptions in platform performance during major events have been observed following significant staff reductions by Elon Musk.
In summary, Social Network X’s collaboration with BetMGM marks a strategic move to enhance user engagement by incorporating sports betting features into the platform. The imminent launch of this new function is timed strategically, aiming to captivate users during major sporting events like the Super Bowl.