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BetMGM is focused on reinvigorating its presence in the gaming market with an emphasis on NFL betting and innovative technology. Despite slipping to the third spot in the U.S. sportsbook market, the company is determined to regain its position in both sports gambling and online casino gaming. CEO Adam Greenblatt is optimistic about the potential of their newly launched technology, including the integration of Angstrom, which utilizes predictive AI for data analytics, risk management, and pricing. This technological advancement has already shown promising results, with a 209% increase in MLB home run betting during the spring baseball season.
In August, BetMGM introduced a single digital wallet for betting in Nevada, allowing customers to seamlessly access their winnings within the same app. This convenient feature has already made a positive impact on this football season, with a 125% increase in first-time depositors in Vegas for NFL betting. Greenblatt highlighted that over 50% of new players in Nevada continue to engage with BetMGM even when they return to their home states.
Despite facing challenges in the igaming segment, where BetMGM has slipped to third place, Greenblatt remains confident in their strategy. He notes that their players are showing increased engagement and loyalty, leading to a more promising outlook for the company’s future in the gaming industry.
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Emily Jensen, graduated from the London School of Economics and Political Science (LSE) in the UK in 2015 with a degree in Economics. She specializes in financial markets and international trade. After graduating, she worked as an analyst at an investment bank in London, where she developed expertise in global economic trends. She later transitioned into consulting, focusing on fintech ventures and providing insights into global economic developments. Emily is passionate about the intersection of finance and technology and aims to drive innovation in the financial sector.
