The LPGA Tour has announced BetMGM as an official betting partner as part of a multi-year deal. [Image: Shutterstock.com]
Key aspects of the agreement
The Ladies Professional Golf Association (LPGA) Tour has signed a multi-year deal that will see BetMGM become an official betting partner. This agreement will see BetMGM showcasing LPGA Tour odds on its betting menu alongside the likes of PGA Tour tournaments and other global sports events.
BetMGM will be able to use the LPGA Tour logo as part of the promotion and advertising of its sportsbook offerings. The LPGA tweeted out details of this new partnership on Wednesday:
BetMGM will also get access to sponsorships that its co-owner MGM Resorts International already has with some of the notable members of the LPGA Tour. This includes high-profile golfers like Michelle Wie West, Anna Nordqvist, Alison Lee, Cristie Kerr, Danielle Kang, and Natalie Gulbis.
MGM Resorts International also has an existing relationship with the LPGA Tour itself. It is a partner for the Bank of Hope LPGA Match-Play event at Shadow Creek in Las Vegas. This will be the Tour’s first match-play tournament since 2017; the $1.5m event will take place May 26-30.
Welcoming the new relationship
LPGA senior vice president for global media distribution Brian Carroll noted that BetMGM has already been supporting women’s golf. He welcomed this new partnership and the chance to provide further fan experiences, saying: “Sports betting and digital gaming are key elements of the future of sports, and BetMGM is on the forefront of both opportunities.”
looks forward to engaging with the LPGA fanbase through its “market-leading products”
BetMGM chief revenue officer Matt Prevost also commented on the new deal. He said that the operator looks forward to engaging with the LPGA fanbase through its “market-leading products.” Finally, MGM Resorts senior vice president for sports and sponsorships Lance Evans spoke about the exciting content that will come out of BetMGM and MGM Resorts working with LPGA players, some of whom are already golf ambassadors for MGM Resorts.
BetMGM’s constant expansion
BetMGM is a joint venture between MGM Resorts International and British-based gambling group Entain Plc. MGM Resorts tried to acquire Entain in January for about $11bn, but the Entain board did not think it was a big enough offer. MGM Resorts does not intend to bid any higher.
BetMGM currently has market access in 24 states and has online sportsbooks up and running in a dozen states. The operator also has online casinos in a handful of states and poker sites in New Jersey and Pennsylvania.
In addition to its deal with the LPGA Tour, BetMGM has partnerships in place with other sports organizations and teams. It has been an official betting partner of the PGA Tour since August 2020 and it signed a significant deal with Topgolf in February 2021. Other partners include the NHL, MLB, MLS, NBA, NASCAR, Detroit Tigers, Barry Sanders, Philadelphia 76ers, and Yahoo! Sports.
BetMGM reported $163m in revenue for the first quarter of 2021, 90% more than it generated in all of 2020. In its recent earnings report, the operator stated that it is third in sports betting market share in the US and first for iGaming.