The Tuesday Line: 60 Minutes, BetMGM, Georgia
I am trying out a new regular feature: the biggest things that are going on in gambling (probably biased toward sports betting) each week. I might increase the frequency, depending on engagement and feedback. But for now, I will try to get important topics to your inbox in a brief and digestible format; think Axios for sports betting, maybe?
Sports Betting On 60 Minutes, ESPN’s Outside The Lines
Sports betting will get a closer examination from two sources leading up to the Super Bowl in Las Vegas. ESPN announced today it was resurrecting Outside The Lines for a short series on the sports betting industry and its growth in the past five years. More here. We also learned 60 Minutes is doing a piece this weekend; trailer here. The ESPN series is likely to be tough but fair on the industry; the 60 Minutes trailer looks like it will be pretty negative. The industry may have to deal with a new wave of bad PR in the wake of that, with an audience that likely includes people in a position to try to effect change, for better or worse. Communications and PR folks in the industry are probably not looking forward to all of this during a time when interest in sports betting reaches a crescendo.
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Twitter + MGM = ?
Fortune broke the news that X (formerly known as Twitter) is working with BetMGM on providing odds on the social media app. More here. That’s potentially a huge deal from a branding perspective on the platform where there is more discussion and engagement about sports and betting than anywhere else. Its potential as a funnel for acquisition and retention is less certain and will depend a lot on the execution. We’ve seen an initial rollout on Twitter via a browser, but not via the app. We know very little about how much money is changing hands or how this will work in practice, so it’s hard to go too deep with the analysis. Still, this feels like it is not meaningful for Twitter from a revenue perspective, but could prove the company can execute deep integrations. The deal could move the needle for MGM if done well; the proof, of course, is in the pudding.
Georgia sports betting
While multiple states will consider sports betting legalization this year, Georgia is the one generating the most buzz. A bill advanced Tuesday morning out of a Senate committee, with some reason for optimism that this could get done in 2024. The legislative effort is trying to create legal gambling without a constitutional amendment; the proposal would allow a fairly open market for operators. There is some chance of sports betting expansion getting shut out in 2024, so posting a win in GA (population 10.8 million) would be welcome for the industry.
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