Betting operators across the globe are continuing to recognise the vital role payments play in the gaming industry, with a leading US sportsbook the latest to step up its activity in this space.
BetMGM, the third largest online betting operator in the US by market share, has launched a digital wallet in the heartland casino state of Nevada.
This makes the firm the first and only legalised sports betting app in Nevada to allow residents and visitors to palace bets in the state and subsequently carry funds in a nationwide BetMGM wallet.
Users sign-up to the wallet whilst visiting MGM Resorts-owned properties in Nevada – the Las Vegas-headquartered casino conglomerate is one of two shareholders in the BetMGM joint-venture, alongside prominent British multinational gambling group Entain. Upon travelling to other states, wallet users can then switch the account to the relevant location.
“We’re proud to lead the charge in Nevada with a single account and wallet that simplifies and elevates the betting experience,” said Adam Greenblatt, BetMGM CEO.
“Our players can now immerse themselves in the excitement of MGM Resorts’ Las Vegas destinations or statewide while seamlessly continuing to place wagers in other BetMGM markets.”
The launch of BetMGM”s digital wallet is not an unsurprising development to Payment Expert, given recent comments the company has made to this outlet regarding the importance of payments in igaming.
Online betting is an industry with a huge customer base, a large portion of which has different payment preferences. Ensuring these preferences are met can prove to be a crucial factor setting companies apart from competitors.
In an interview with Payment Expert last month, ahead of his appearance at the Payment Expert Summit – part of the wider SBC Summit – in Lisbon later this year, BetMGM’s VP – Payments, Risk & Fraud Prevention, Liron Warhaftig, shared his views on payment innovation.
“The most promising financial innovations for the betting experience are instant payments and digital wallets,” he remarked.
“These technologies offer faster and more secure transactions, which significantly enhances the overall user experience. Digital wallets, such as PayPal or Apple Pay, provide quick and easy deposit options, drastically reducing transaction times.”
