High on the World Cup and the engagement that it drew for BetMGM over the summer, the operator’s Chief Executive Officer, Adam Greenblatt, has stated his belief that soccer has infiltrated the big four sports in North America and will soon rival American football, basketball and baseball.
Explaining his bold claim further, Greenblatt said he already believes football is outpacing ice hockey, a statement which no doubt will have raised many eyebrows among US sportsbook enthusiasts.
However, Greenblatt’s proclamation wasn’t without evidence, as he revealed that betting traffic on the Belgium vs USA game was higher than any NBA or MLB playoff game.
The timing of the World Cup did elevate its value to BetMGM in terms of their overall sportsbook output, as it provided the firm with an avenue to engage with players fruitfully during what would have otherwise been downtime.
Speaking on the company’s investor call, he stated the memory of a positive betting experience with BetMGM during the World Cup is fresh in their minds as they head into the new season. It provides a strong dynamic for the company looking to build momentum following the tournament.
He added that BetMGM witnessed an excellent player response to the World Cup, even in an environment that was hindered by the surge of prediction market engagement.
Greenblatt emphasised that the big question is what is next on the horizon off the back of the World Cup and how the group continues to engage with players.
He stated they “would love to see a continuation of those attractive CPAs and attractive paybacks that we’ve seen through the World Cup, but that’s not what we have planned for.
“We have instead planned for the experience that we saw before the World Cup to be maintained through the rest of the year.”
Whilst the trajectory of football engagement has been on the up in recent years, boosted by the star power of Lionel Messi in the MLS, the World Cup put this growth on steroids, as Greenblatt detailed that the increase in fandom was exponential.
Overall, online sports revenue also remained steady despite the World Cup, with a stagnant figure of $228m. However, the impact of prediction markets continues to weigh on sportsbooks like BetMGM.
iGaming Expert Analysis
The legacy of the World Cup can be significant on the US market; the status quo of sports in North America is strong – but there was a real receptiveness from the US audience to embrace not just sports but its stars.
We know player props are a big factor in enticing bettors and fuel betting numbers amongst US players, and the star power of soccer is undeniable, even as Ronaldo and Messi depart.
