BetMGM CEO ‘Delighted,’ Says New York Betting Start Has Been Record-Breaking

BetMGM CEO ‘Delighted,’ Says New York Betting Start Has Been Record-Breaking
By Lou Monaco

To say that BetMGM’s NY Betting apps launch on Monday was a success is an understatement.

During a 45-minute conference call on Wednesday, BetMGM and Entain provided an update on the company’s performance and outlook for 2022, and by the looks of things, everything is going in a positive and successful direction.


BetMGM New York became the fifth of nine mobile sports betting platforms to launch in the Empire State on Jan. 17.

Caesars Sportsbook New York, BetRivers New York, DraftKings New York and FanDuel New York were the first four to launch on Saturday, Jan. 8.

For the latest New York sports betting promo codes for all operators, make sure to check out EmpireStakes.com.


BetMGM CEO Expresses His Pleasure

After 48 hours of live operation, the praise by Adam Greenblatt, BetMGM’s chief executive officer, was glowing.

“I’m delighted with how New York has gone,” he said. “We’ve broken all of our records. It was the best first day of any live launch. We broke records for most registrations, most first-time depositors, for deposits, for bets and for handle.

“What I found particularly pleasing was our technology performed flawlessly, in line with our expectations mind you, notwithstanding the volume and linked to that our acquisition funnel (KPIs) were also very pleasing.”

But wait, there’s more.


“We had the highest registration to deposit conversion percentage of all our markets. We had the highest new player deposit success rate, so everyone who wanted to deposit money was able to get their money in. We had the highest conversion of registration to real money players,” Greenblatt said.

“The area of operations is the area that I’m most pleased about and I’ll tell you why. Despite the record-breaking volumes, we answered all chats/calls within an average of 29 seconds. This is a standout performance in the market and we expect will be another reason that New York players choose BetMGM. So I look to the future positively.”

Currently, BetMGM is live in 19 states (4 iGaming, 19 sports betting) and expects more launches in the U.S. and Canada as the year progresses.


GeoComply Numbers Show the Successful Launch

The first two weekends of mobile betting have been astounding. Since Jan. 8, more than 1.2 million sports betting accounts have been created over five mobile platforms, according to Vancouver-based GeoComply, a geolocation technology company that provides information and data to the gaming industry.

About 878,000 unique users (of the 1.2 million) were detected by GeoComply in New York. Of those who signed up, 770,840 (or 87.8% percent) are considered new players to regulated online sports betting as location data indicates those players have not been seen before in GeoComply’s systems.

New Yorkers are mostly sticking with one sportsbook, as the data shows an average of 1.36 accounts per player.

There were even more bettors on the second weekend of sports betting. That second weekend, which included the first round of the NFL playoffs, showed 17.9 million geolocation transactions were placed in the state, more than the 17.2 million the first weekend.

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Contributors

Lou Monaco had been East Coast Scene columnist for Gaming Today in Las Vegas since June 2019, covering the East Coast sportsbook scene with emphasis on NJ and PA. He also currently is a part-time writer for the high school sports department for NJ Advanced Media (NJ.com) in Iselin, NJ. Lou has over 30 years sports experience with previous stints at ESPN SportsTicker, Daily Racing Form and Oddschecker.

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