Yahoo Sportsbook will officially launch today, with users seeing the revamped app in a marketing deal with BetMGM.
The launch was a relatively quick turnaround. Yahoo and BetMGM announced the agreement less than three weeks ago.
Anyone using Yahoo Sports will see the change as betting odds are integrated into the platform across a variety of sports.
Clicking on those odds will take users to BetMGM, where they can place actual wagers. Only users in New Jersey can click through and place a bet, for now, however. The app is available on iOS and Android devices.
Yahoo Sportsbook’s integration to allow wagers will soon become available in other legal sports betting states, according to the press release. That will likely hinge on BetMGM getting up and running in new jurisdictions.
“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,” Verizon Media CEO Guru Gowrappan said. Verizon is the parent company of Yahoo.
Breaking down the Yahoo MGM deal
This could be the kind of agreement that helps BetMGM pick up some real market share in NJ online sports betting.
Yahoo will be compensated for the traffic it drives to Roar Digital‘s BetMGM. Roar is a joint venture between MGM Resorts and GVC Holdings.
Specific terms of the agreement were not disclosed.
Yahoo Sports has millions of monthly active users who will now lay eyes on BetMGM’s odds by just browsing the app or desktop site the same as before.
The fact that Yahoo has so many fantasy sports players is a big positive as well. FanDuel and DraftKings prove every month how valuable daily fantasy players can be to real-money betting operations.
The two are going after bettors immediately with a promo that lets new BetMGM users deposit $10 and get $100 in free bets.
BetMGM spreading its wings
Whether this is the most profitable sports betting deal for BetMGM depends on how valuable Yahoo Sports’ database of users is.
The joint venture also signed a multi-year partnership with Buffalo Wild Wings, which includes sports gaming experiences through BetMGM.
The agreement includes free-to-play games in states without real-money sports betting. The two also plan to launch a sports betting test program in New Jersey later this year.
Future experiences include customer content on Buffalo Wild Wings’ televisions with live odds provided by BetMGM.
