Skip to main content
NEW YORK, NEW YORK - OCTOBER 26: A general view before the start of the first half between the Philadelphia 76ers and the New York Knicks at Madison Square Garden on October 26, 2021 in New York City. NOTE TO USER: User expressly acknowledges and agrees that, by downloading and or using this photograph, user is consenting to the terms and conditions of the Getty Images License Agreement. Sarah Stier/Getty Images/AFP (Photo by Sarah Stier / GETTY IMAGES NORTH AMERICA / Getty Images via AFP)

Legal sports betting in New York is on the horizon and BetMGM got an early jump on the competition.

The race is officially on in New York for brand exposure for its newly announced online sports betting platform. The first and possibly most crucial shot across the bow was made earlier this week. BetMGM, Madison Square Garden Sports Corp., and Madison Square Garden Entertainment Corp., announced a partnership.

BetMGM became one of nine betting brands to secure a mobile operator license from the New York State Gaming Commission (NYSGC). Then came word of a key alliance between one of the true heavyweight legal sports betting brands in the US, and the owner of the NBA's New York Knicks, the NHL's New York Rangers, and the iconic Madison Square Garden.

Ron Skotarczak, Executive VP, Marketing Partnerships, MSG Entertainment, commented: "We're excited to be partnering with BetMGM to bring them an unparalleled platform in sports and entertainment. MSG Sports and MSG Entertainment are made up of world-renowned brands that set industry standards for excellence, exposure and engagement – making us ideal partners to help drive sports betting’s continued growth."

Matt Prevost, Chief Revenue Officer at BetMGM added: "New York is a critical state for BetMGM’s continued growth and I can’t think of a better way to begin our relationship with The Empire State."

BetMGM the big winner in New York sports betting scene?

BetMGM looks like the big winner in the multi-year partnership deal. The sports betting brand gains immediate and valuable exposure in one of the most exciting and all-encompassing sporting markets in the US, if not the world.

BetMGM gains crucial advertising in the New York market. It also gets a jump on the other eight heavyweight providers that have gained access to what has a chance to be the biggest single online sports betting market in the country.

Some of the perks

Like other such partnership deals, BetMGM's signage in and around Madison Square Garden will be omnipresent. Not only for fans attending Knicks and Rangers games at MSG, but also during television broadcasts of some of the most iconic sports teams in North America.

BetMGM branding opportunities include courtside and ribbon LED signage. "GardenVision", is also visible throughout the Stadium. Branding will be seen on basket stanchions during Knicks games and on the MSG Zamboni during Rangers games. The branding will also be visible as a "virtual blue line" during Rangers broadcasts.

BetMGM signage will also become highly visible outside Madison Square Garden on digital boards. Millions of people can see it when visiting or just passing by the New York sporting and pop-culture landmark.

The sportsbook also gains a visible presence on all MSG, Knicks, and Rangers digital entities. These include Twitter, Instagram, and Facebook. BetMGM will be heavily featured on MSG Network. It broadcasts not only Knicks and Rangers games but also ones featuring the New Jersey Devils, and New York Islanders.

Value of getting ahead

BetMGM is in a serious battle for market share in the yet-to-be-launched mobile sports betting market in New York. FanDuel, DraftKings, Caesars, Bally Bet, PointsBet, Resorts World, Rush Street Interactive, and Wynn Bet are the "other eight" to receive coveted licensing opportunities. They'll battle along with BetMGM for mobile customers in the Empire State.

BetMGM commissioned a report in conjunction with DraftKings, FanDuel and Bally Bet, that estimated $600 million in gross gaming revenue in the first full year of mobile sports betting. That number's expected to increase to $1.3 billion annually by the end of year three. New York is the fourth most populous state in the US with more than 20 million residents. It makes the state the largest single mobile sports betting market in the US.

BetMGM has positioned itself to be the most visible sports betting brand in that enormous market through its MSG tie-up. The BetMGM/MSG deal may be just the first of many in New York; however, it may prove to be the biggest and most critical going forward.

SEE ALSO: AGA Reveals Pace of US Sports Betting Growth