BetMGM has recently launched a single digital wallet in Nevada, marking a significant expansion of its operations in the state. This new feature allows players to easily sign up for the sportsbook in Las Vegas and access their accounts from any legal state in the U.S. This means that Nevada residents and visitors can now bet and carry funds to other states where the Entain-MGM Resorts joint venture is active, making BetMGM the only sports betting app to offer this convenience.
According to a press release by the operator, BetMGM’s CEO, Adam Greenblatt, expressed pride in leading the charge in Nevada with this innovative single account and wallet system. Greenblatt highlighted how this advancement simplifies and enhances the overall betting experience for players, allowing them to seamlessly place wagers in various BetMGM markets while enjoying the excitement of MGM Resorts’ Las Vegas destinations.
Nevada regulations currently require customers to register for betting accounts in person, which can be done at any of MGM Resorts’ properties in Las Vegas. Once registered, players can easily switch between sportsbooks when accessing the app in a different state. Currently operational in 29 states across North America, BetMGM is focusing on strengthening its presence in Las Vegas by leveraging the omni-channel opportunities available through MGM Resorts properties like the Bellagio and the Cosmopolitan.
In a recent trading update for the first half of the year, Greenblatt emphasized the significance of the single digital wallet in BetMGM’s strategy to unlock Las Vegas. This strategic move was showcased extensively around Vegas in anticipation of Super Bowl LVIII, resulting in encouraging new player sign-ups at competitive cost per acquisition rates. The launch of a new mobile sportsbook in Nevada featuring enhanced prop and parlay markets powered by Angstrom Sports further demonstrates BetMGM’s commitment to offering a top-tier betting experience to its customers.
Looking ahead, BetMGM is gearing up for the NFL season in September with a range of product enhancements in the pipeline. Greenblatt’s previous insights on the potential of Las Vegas as a valuable market highlight the brand’s dedication to maximizing its presence in the region. Additionally, there are discussions within the Nevada Gaming Control Board about potentially allowing gaming wallets to be used for non-gaming purchases at on-property amenities like restaurants and retail outlets. While there are limitations on spending to outlets within a casino, this development signals a broader application of the single digital wallet beyond traditional betting activities.