In a move that was widely expected, BetMGM is launching in Indiana on Tuesday after the state’s gaming commission issued the online sportsbook a “go live” notice. The news comes on the heels of last month’s announcement that the IGC approved BetMGM’s application for a temporary vendor license.
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The Roar Digital product, a joint venture between MGM Resorts International and GVC Holdings, will operate through a licensing agreement with Balterra Casino Resort. BetMGM, along with the popular FanDuel Sportsbook, both operate via agreements with the Florence-based casino.
BetMGM was given the green light this morning to begin taking online sports wagers after it was issued a notice by the Indiana Gaming Commission. In the notice, executive director Sara Gonso Tait writes:
BetMGM has substantially demonstrated to the satisfaction of the Commission that its mobile sports wagering operation meets the requirements of Indiana Code Article 4-38, the Commission’s Emergency Regulations, all of Commission Directives related to sports wagering activities. As such and pursuant to BetMGM’s launch date request, I hereby AUTHORIZE BetMGM to commence mobile sports wagering activities within the State of Indiana of February 25, 2020.
As is the case in other states, online sportsbook operators are required to satisfy a lengthy list of requirements before accepting wagers. Those requirements address issues such as taxes, eligibility, licensing agreements, and specifics to app functionality and funding.
BetMGM has been fully live in New Jersey since last September. Following an extremely slow start, one in which it lagged far behind popular brands like DraftKings Sportsbook and FanDuel Sportsbook, its performance in January was better.
Along with the Borgata Sports app, BetMGM pulled in $2.46 million in the Garden State last month. That is more the $2.38 million of revenue it generated in December and January combined, and it’s easily more than double the $995,096 of revenue in December.
BetMGM figures to run behind both companies in Indiana, too, where DraftKings currently leads and FanDuel continues to gain steam, but there is optimism regarding its performance given the state’s substantial (and growing) online sports betting appetite.
Indiana experienced a growth of approximately 12% in its online handle from December to January, accounting for nearly three-quarters of the state’s $123.4 million sports betting handle.
While it is very unlikely that BetMGM will operate at the level of DraftKings or FanDuel in Indiana, it figures to compete with the state’s other sportsbooks such as BetRivers, BetAmerica, PointsBet, and BetIndiana.
BetMGM, which is available for both iOS and Android, offers bettors a wide selection of sports to wager on. It is highlighted by its in-game wagering options and “early cash out” feature.
In addition to a $500 risk-free first bet offer to new users, BetMGM has routinely provided its users with daily bet boosts and creative promos. Earlier this month, MGM ran a 200 to 1 payout ahead of Super Bowl 54 on either team to score a touchdown.
In order to achieve success in Indiana, BetMGM will need to replicate such offers, thus providing bettors with incentive to stray from the current leaders.