BetMGM says it is the first betting app offering Nevada bettors nationwide connectivity via digital wallet.
“Through its operation and partnership with MGM Resorts International and powered by Entain’s technology, this innovative feature makes BetMGM the only legalized sports betting app to allow Nevada residents and visitors to wager in the state and carry their funds to BetMGM mobile markets nationwide,” the company said in a news release Thursday (Aug. 22).
The company’s single account and wallet feature lets users sign up once in-person at an MGM Resorts property in Nevada and then use the sports betting app across all U.S. BetMGM mobile markets. New customers in Nevada can sign up by downloading the mobile app, completing verification and visiting one of BetMGM’s nine retail sportsbooks.
“When traveling to another jurisdiction, users will receive a pop-up message upon opening the app allowing them to switch to their account within the BetMGM market where they are currently located,” the release added. “Customers also can manually select their market within the app’s account tab to view their account for that state.”
Bill Hornbuckle, CEO of MGM Resorts, had hinted at the launch of the wallet during an earnings call in February, saying it was “critical to our omnichannel thesis and will fully unlock one of the key differentiators for BetMGM by fully leveraging our Las Vegas properties.”
The company’s efforts are happening amid “a digital shift … in how gamers handle payments,” as PYMNTS wrote earlier this year.
Research by PYMNTS Intelligence points to a growing demand for digital instant payment methods among gamers, challenging the long-held dominance of cash payments.
“In fact, 76% of gamers who can’t access instant payouts would if they could, prompting companies like Caesars Sportsbook to offer push-to-card instant payouts within their apps,” that report said.
“This move not only improves customer satisfaction but also fosters loyalty among gaming enthusiasts, illustrating the importance of digital payments in shaping the gaming experience.”
As noted here in a separate report, getting winnings in cash works for gamers betting in physical environments. But to attract those playing in digital environments, gaming companies need to take steps to give players more instantaneous payouts while also encouraging them to stay within in their current gaming ecosystem.
“Given that more than three-quarters of gamers want this, delivering on this preference would likely improve customer satisfaction — and possibly motivate them to play again soon,” PYMNTS wrote.
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