A roaring success: BetMGM on its market-leading igaming position in states old and new
As BetMGM has quietly cruised into the leading position in the lucrative online gaming vertical, VP of gaming Matthew Sunderland lifts the lid on the operator's winning streak
EGR North America (EGR NA): When it comes to igaming, BetMGM is now market-leader in mature and congested states like New Jersey but also top of the pile in a new state like Michigan, which launched in January. What do you put this success down to? Matthew Sunderland (MS):EGR NA: What strategies are you deploying to acquire igaming players in states where you are active at attractive CPA rates?MS:EGR NA: How does the M life Rewards program help?MS:EGR NA: What have been the key trends or differences you have noticed about igaming in the US, including player habits and preferences, compared with the UK?MS:EGR NA: How do churn rates compare between the US and the UK?MS:EGR NA: What about game tastes?MS:EGR NA: You mentioned live casino, which accounts for 15% of BetMGM igaming GGR. What’s the long-term potential for live dealer gaming in the US? MS:EGR NA: Gameshow-style live games have proved to be extremely popular in Europe and elsewhere, but they haven’t reached the US. How come?MS:EGR NA: During BetMGM’s recent Investor Day presentation, it was revealed that 71% of its igaming players had played in-house games. Can you explain how these proprietary games are created?MS:EGR NA: How are you promoting cross-sell into gaming? Does it tend to be sports bettors trying out gaming rather than the other way around?MS:EGR NA: There are only five states (New Jersey, Pennsylvania, Michigan, Delaware, and West Virginia) with online casino gaming. Are you surprised at the slow speed of legalization?MS:EGR NA: With the deadline passing for the Department of Justice to appeal a court’s ruling that the Wire Act only applies to sports betting, what does this mean for online poker liquidity sharing and BetMGM’s poker offering in the US?MS:4 1 71% 674 60% Source: BetMGM
It’s not like the UK where you’ve got the choice of 5,000 different online casinos. Here, the pool is relatively small, so churn is not as heavy