Elon Musk’s X, formerly of Twitter, has struck a deal with sports betting operator BetMGM, the companies announced on Friday. The deal, which BetMGM describes as a “strategic partnership” with X, will see the provider become X’s exclusive Live Odds sports betting partner and introduce access to the betting service on X.
Initially, X users in the US will be able to explore betting odds on professional football, with more professional and college sports rolling out over time. Through the new interface, users will be able to click through to BetMGM’s website or app, where they can then place their bets, but the integration will continue to evolve over time, the company said, suggesting that a future version could make betting even easier. in X.
“Sports never sleeps on X and now with our strategic partnership with BetMGM, fans are virtually in the front row. We’re bringing sports fans at X even closer to the action so they can cheer and now bet on their favorite teams,” said X CEO Linda Yaccarino. statement about the new agreement.
Also posted a shorter version of this statement on the X itself, showing off a screenshot of what betting integration would look like at launch. Here, a mockup of Super Bowl LVIII on X showed images and video highlights from the teams followed by a new section titled “Odds by BETMGM” at the bottom.
The partnership is another example of the different direction X has been heading since Musk’s 2022 acquisition of the social network, then known as Twitter. His vision has expanded beyond social networking to see X become an “everything app,” so to speak, that includes not only text posts and media, but also creator content, subscriptions, live and recorded videos, online shopping, payments and more.
The company’s app this week shot to the top of the App Store after Tucker Carlson announced that an interview with Putin would appear on X on Thursday and from activity around drake clear photos (which was around before the big increase in installs that sent the app to No. 1). By limiting these viral moments, access to sports betting through X – where sports commentary and discussion often takes place – could attract a new audience and help X maintain its high ranking. (The app remains No. 1 in the US App Store as of Friday morning.)
Asked for comment, a representative for X did not elaborate on whether or how X will monetize its new deal with BetMGM, but a deal is likely, given the integration work required.
X found himself in a difficult situation financially. The company has yet to move away from reliance on advertising, but its owner has a habit of scaring off X’s advertisers over brand safety concerns. Late last year, big brands like Apple, Disney, IBM and others put their campaigns on hold after Musk approved an anti-Semitic post, for example.
These departures left X littered with lower-quality, spammy ads…and in search of new revenue streams.
“X is the center of the sports world’s conversation 24 hours a day, seven days a week,” BetMGM CEO Adam Greenblatt said in a statement. “Having direct access to this forum is an unprecedented opportunity to expand our reach to a passionate and engaged audience. We look forward to adding information and content that enhances the platform’s interaction around sports,” he added.
