X to introduce sports betting in partnership with BetMGM

In a recent announcement on Friday, BetMGM and Elon Musk’s X, previously known as Twitter, confirmed they’ve entered into a “strategic partnership.” The agreement will make BetMGM X’s exclusive Live Odds Sports Betting partner, introducing betting services to the platform.

To begin, U.S. X users will be able to explore betting odds for professional football, with plans to include additional professional and collegiate sports over time. Users will be able to click through to BetMGM’s website or app via the new interface to place bets. However, the companies indicated that the interface will continue to evolve, suggesting easier betting on X in the future.

X’s CEO, Linda Yaccarino, said in a statement, “Sports never sleep on X and now with our strategic partnership with BetMGM, fans are practically in the front row. We’re bringing sports fans on X even closer to the action so they can cheer, and now bet, on their favorite teams.” Yaccarino provided a snapshot of the forthcoming betting integration on her X account, demonstrating how the feature will look when launched.

The partnership with BetMGM is indicative of the new direction X, formerly Twitter, is moving towards since Elon Musk’s acquisition in 2022. Musk’s vision extends beyond a typical social network, envisioning X as an all-encompassing app that includes creator content, live and recorded videos, online shopping, payments, subscriptions and more.

Following Tucker Carlson’s announcement of an interview with Putin on X, coupled with circulating explicit Drake photos, the app topped the App Store this week. By introducing sports betting, where sports commentary and discussions frequently occur, X could attract new users and sustain its top position.

While X declined to disclose whether the partnership with BetMGM would generate revenue, it is likely there is an arrangement, considering the required integration.

X had faced financial challenges due to its dependence on advertising but potentially scaring off advertisers over brand safety concerns. Major companies like Apple, Disney, and IBM paused their campaigns on X after Musk endorsed an antisemitic post last year. This left X seeking new revenue streams.

BetMGM CEO, Adam Greenblatt, stated that X is a critical platform for sports conversation, and being directly accessible on it provides an unmatched opportunity to reach a passionate and engaged audience.