The rash of legal sports betting provider/pro sports league partnership deals in the US scene took another step toward almost complete saturation with a Wednesday announcement that one of the most aggressive and successful names in the provider space, BetMGM, is becoming the first Official Betting Partner of the LPGA.
The LPGA is the last of the major North American sporting organizations to join the Sponsorship fray and the BetMGM deal could open the floodgates for the previously under-the-radar sports leagues.
“As a leading sports and entertainment company and already a supporter of women’s golf, BetMGM is uniquely positioned to join the LPGA family as an Official Betting Operator,” said Brian Carroll, senior vice president of global media distribution for the LPGA. “Sports betting and digital gaming are key elements of the future of sports, and BetMGM is on the forefront of both opportunities. We are happy to partner with them as we look to provide more opportunities for our fans to interact with the LPGA and learn about our incredible athletes.”
There has been a pretty good blueprint for sports betting sponsorship deals within the US market and the BetMGM/LPGA deal follows a similar pattern.
LPGA odds will be proudly displayed on the BetMGM platform and will officially get similar exposure as other leagues that the sports betting provider promotes. The LPGA odds will get similar billing as the PGA Tour, the European Tour and other professional leagues across the globe.
The LPGA Tour gains an immense amount of exposure within the legal sports betting space and they will benefit from the host of promotional opportunities that typically come along with such deals.
BetMGM gets the usual perks including the exclusive right to use LPGA marks and logos and official LPGA data on its sports betting products. The sports betting provider will also be heavily advertised everywhere the LPGA happens to be, including television and all the Tour’s digital and media outlets.
Existing Golf Relationships
BetMGM has been a big part of the evolution of golf betting for some time. Adding the LPGA to the fold seems like a logical next step for the elite sports betting brand. As far as MGM Resorts’ previous relationship with the LPGA, they did earlier this year team up with the Tour for the Bank of Hope LPGA Match-Play Hosted by Shadow Creek.
MGM Resorts also has previous relationships with a few to its Tour’s most recognizable names. The betting provider currently sponsors Natalie Gulbis, Danielle Kang, Cristie Kerr, Alison Lee, Anna Nordqvist and Michelle Wie West.
“MGM Resorts’ commitment to golf is unparalleled and is further strengthened by our new partnership with the LPGA Tour,” says Lance Evans, MGM Resorts’ senior vice president for sports and sponsorships. “The LPGA features some of the world’s greatest athletes, several of whom are MGM Resorts golf ambassadors. In collaboration with BetMGM, we look forward to creating engaging content and experiences for sports fans and our guests.”
Building of the BetMGM Brand
BetMGM has made strong moves in the last 12 months during their elevation to one of the premier US legal sports betting brands. Sponsorships have been a major part of their evolution.
Today, the BetMGM app is available in 12 states and are a serious player in all. The company has reported a 22% market share in those jurisdictions with designs on growing that number going forward. BetMGM also hopes to be live in 20 states by the end of this year.
BetMGM’s recently released Q1 financial report showed a $163 million profit for the company. The three month-period’s numbers equate to about 90% of what the company made in all of 2020.
More Deals on the Way?
BetMGM becomes the first Official Betting Partner of the LPGA but if the Tour follows the path of other major leagues around the world, it won’t be their last. More sponsorship deals for the preeminent global women’s golf tour could be on the horizon.
As of now, its BetMGM that gets to take full advantage of all the LPGA has to offer and gains the honor of being the first provider to fill their partnership menu to officially include all the major North American sports.
Look for both the LPGA and BetMGM to forge more relationships going forward as the US legal sports betting gold rush continues.