BetMGM has announced a long-term agreement with Gannett, the publisher of USA Today, under which BetMGM will become the official online sportsbook operator for USA Today Sports. This partnership will see BetMGM’s data and odds published across the USA Today network, which includes more than 300 online news sites serving over 200 markets in 43 states. This is a significant reach, exceeding the 38 states (plus Washington, DC) currently permitting some form of sports wagering.
The agreement will integrate BetMGM’s sports betting odds into stories and content, including betting odds, moneylines, spreads, and over/unders for various games. Additionally, a “Bet Now” feature and BetMGM branding will be incorporated into the footers of all USA TODAY Network publications. This broad exposure is anticipated to enhance BetMGM’s visibility among sports enthusiasts.
This partnership expands BetMGM’s media footprint, building on previous collaborations, including its role as the official odds provider for the Associated Press and its partnership with social media platform X (formerly Twitter). The timing of this deal aligns with the height of the football season, offering both companies the opportunity to capitalize on the peak period of sports wagering in the US.
The announcement comes after the second week of the 2024 NFL season, a period during which BetMGM has seen increasing momentum. According to Jefferies analyst James Wheatcroft, BetMGM experienced a 54% year-over-year surge in betting handle during Week One of the NFL season in New York, with a corresponding 24% jump in revenue.
While it’s yet to be seen how the Gannett deal will influence BetMGM’s market share, there is optimism from both parties. Gannett CEO Michael Reed expressed confidence that the collaboration would enhance audience growth and engagement and lead to increased monetization of their content platform.
Before the football season began, the American Gaming Association predicted that US bettors would place $35 billion in wagers on the NFL this year. However, just two weeks into the season, Macquarie analyst Chad Beynon increased that forecast to $37 billion, representing a 34% year-over-year growth. Beynon’s analysis also indicated a strong hold rate for NFL bets, suggesting robust profitability for operators like BetMGM.
New York’s sports betting market reported a 7% hold for the week of September 2-8, slightly below the long-term average but consistent with estimates, and a 14% year-over-year increase in betting handle compared to the same week last year. This data underscores the growing popularity and financial impact of sports betting in the state and beyond.
