MGM Signs Historic Deal with NBA – Its Latest Move to conquer the New Sports Betting Market
In its latest move to conquer the new US sports betting market, MGM Resorts International has announced that it has become the official gambling partner of National Basketball Association (NBA). This is a historic move since it is the first of its kind of agreement to be ever made with a major sports league in the U.S.
This MGM-NBA partnership comes after the Supreme Court allowed legal sports betting in all 50 states. Ever since this federal law was struck down, casino giants MGM and Caesars have been competing against each other to see who will dominate this new market which is expected to grow fast. With this deal, it seems MGM is ahead of the game.
The deal in detail
The deal enables MGM to use the official data of NBA on its betting platforms in their casinos, as well as online betting platforms which they intend to roll out later. In addition, the deal is also expected to help them in the accurate and efficient detection and prevention of any fraud or game-fixing.
As per the deal, MGM plans to work on a marketing plan with the NBA, and it has the right to use official NBA as well as WNBA logos and marks. It is clear that this partnership has given MGM an unprecedented power in the field of the blossoming sports betting market.
Adam Silver, the NBA commissioner, has always been a supporter of sports betting in the US, even pushing for it to be legalized back in 2014. And ever since it was made legal in May 2018, the sports league had hinted time and again that it plans to profit from this legalization very soon.
More deals in the future for NBA?
The agreement does not make MGM the league’s exclusive partner for sports betting though, but just for marketing purposes. This means that the NBA can sign similar deals in the future with other gambling operators and share their official data. It is highly likely that similar deals will be signed since the NBA is extremely open to the idea and eager to prevent any manipulation.
NBA also looks to profit from every bet placed on its games and have some authority over the limitation of certain types of betting activities. However, these may be challenging since it is highly unlikely that there will be a federal regulation anytime soon.