BetMGM Getting Into Gift Card Game, Available in Select States
BetMGM announced today that it’s making gift cards available in select states where the gaming manipulator is live and legal.
The iGaming and online sportsbook troupe is partnering with New York-based payments provider TAPPP to bid gift cards. The word arrives simply 2 years before the embark on of the 2021 NFL season.
BetMGM gift cards are now useable inward $25 and $50 denominations inwards eighter from Decatur states at over 6,000 locations across the country,” according to a financial statement released by the gaming company.
Available at retailers such as Dollar General, Kum & Go, Sheetz and Speedway, the BetMGM gift cards feature article a $10 bonus. While the gift scorecard computer program is currently special to viii states, BetMGM offers peregrine sports wagering in a dozen states and Washington, DC. That figure includes Arizona, where sports betting is slated to go game unrecorded this week.
Sports Betting, Gift Cards: An Ideal Pairing
For BetMGM, the gift scorecard gambit could be well-timed on multiple fronts. First, as noted above, the 2021 NFL run commences on Thursday.
Second, the holiday shopping harden testament presently arrive. In any granted year, nearly 75 percent of shoppers purchase at least one gift identity card in the quaternary quarter, and a bulk purchase at least two. With more states lately entering the unrecorded and effectual sports betting fray, the potential audience for BetMGM gift cards is growing at the optimal time of year.
The manipulator isn’t the for the first time to get under one's skin into the gift card racket. Just before endure Christmas, DraftKings and InComm Payments formed a gift identity card deal, cover some of the same retailer as the BetMGM/TAPPP pact, including Dollar General, Sheetz and Speedway.
The DraftKings gift cards tin can follow used to fund accounts at the operator’s internet casinos. BetMGM didn’t say if its comparable offering is eligible for use at its online casinos. In the states where it’s operational, BetMGM holds a dominant iGaming market share.
For BetMGM, Big Gift Card Opportunity
In the intensely private-enterprise(a) sports betting space, client retention is paramount for operators. One boulevard for that is making gap and funding accounts easier. Gift cards could live an boulevard for accomplishing that objective.
Indeed, gift cards are liberal business, especially online cards. Sales of gift cards at brick-and-mortar are rising at a sixer percent clipping per year. But that’s dwarfed past the speedy quickening inward the online market. In the tertiary quarter, retailers sold 114 percent more digital cards than in the year-earlier period, patch revenue generated increased 65 percent, according to Rise.ai Inc.
BetMGM, a partnership between MGM Resorts International and Entain, doesn’t bring up e-gift cards inwards its statement. The like DraftKings offering is only if available at physical retail stores.