# BetMGM **Source:** https://geo.sig.ai/brands/betmgm **Vertical:** Entertainment & Gaming **Subcategory:** Sports Betting & iGaming **Tier:** Established **Website:** betmgm.com **Last Updated:** 2026-04-14 ## Summary US #3 online sportsbook and iGaming operator; $667M Q3 2025 revenue; first EBITDA-positive quarter ($41M); joint venture of MGM Resorts and Entain; unique cross-channel loyalty linking BetMGM accounts with MGM Rewards for physical casino integration. ## Company Overview BetMGM is a U.S. online sports betting and iGaming operator formed as a joint venture between MGM Resorts International and Entain PLC, launched in 2018 and headquartered in New Jersey. Leveraging the MGM brand's casino heritage and Entain's global technology platform (which includes partypoker, bwin, and Coral), BetMGM operates in 28+ U.S. states and Ontario, Canada. Core products include BetMGM Sportsbook, BetMGM Casino, and Borgata Online (a regional iGaming brand).\n\nBetMGM's key differentiator is its integration with MGM's land-based casino ecosystem. Players can link their BetMGM accounts with MGM Rewards (the land-based loyalty program), enabling cross-channel rewards redemption between physical MGM properties and the digital platform—a unique omnichannel capability versus pure-play digital competitors. MGM Rewards has over 40 million members, creating a substantial acquisition funnel for BetMGM.\n\nBetMGM reported Q3 2025 revenue of $667M and achieved its first EBITDA-positive quarter with $41M in adjusted EBITDA—a significant operational milestone after years of heavy promotional investment. The company holds the #3 position in U.S. online sports betting market share. Caesars Entertainment has reportedly explored spinoff options for its digital business, reflecting broader industry interest in unlocking value from digital gaming assets. ## Frequently Asked Questions ### Who owns BetMGM? BetMGM is a 50/50 joint venture between MGM Resorts International (NYSE: MGM) and Entain PLC (LSE: ENT). MGM brings its U.S. casino brand and customer base; Entain contributes its global sports betting technology platform. ### What makes BetMGM different from DraftKings and FanDuel? BetMGM's key advantage is its omnichannel integration with MGM's 30+ physical casino properties. Players can earn and redeem MGM Rewards points across BetMGM digital and MGM physical properties—a capability pure-digital competitors cannot match. ### Is BetMGM profitable? BetMGM achieved its first EBITDA-positive quarter in Q3 2025, reporting $41M in adjusted EBITDA on $667M in revenue. This marked a turning point after years of customer acquisition spending; the company targets sustained EBITDA profitability going forward. ### What states does BetMGM operate in and what is its market share? BetMGM operates in 28+ US states and Ontario, Canada, making it one of the most geographically broad online sports betting and iGaming operators in North America. BetMGM holds approximately 15–17% market share in US online sports betting—the third-largest position behind FanDuel and DraftKings. In iGaming (online casino), BetMGM is even more competitive, with leading market position in states like New Jersey and Michigan. ### What is BetMGM's main competitive advantage from the MGM Resorts relationship? BetMGM's integration with MGM Resorts' physical casino ecosystem is its primary differentiator. Players can earn M life Rewards points through online betting that are redeemable at MGM properties nationwide, creating a loyalty bridge between digital and physical gambling that FanDuel and DraftKings cannot replicate. This omnichannel strategy is designed to acquire digital bettors through MGM's 40M+ M life members and convert physical casino guests to online players. ### How does BetMGM's technology platform work? BetMGM's technology is provided primarily by Entain, the UK gaming company that co-owns BetMGM. Entain's platform (used globally for brands like bwin, Coral, and Ladbrokes) powers BetMGM's sportsbook and casino operations. This gives BetMGM access to a mature, proven global gambling technology stack with extensive sports betting markets and casino content, accelerating US market deployment without building technology from scratch. ### What is BetMGM's iGaming (online casino) offering? BetMGM Casino operates in states where online casino is legally authorized (New Jersey, Michigan, Pennsylvania, West Virginia). The iGaming product offers slots, table games (blackjack, roulette, baccarat), live dealer games, and poker. BetMGM's casino content library benefits from MGM's relationships with major software providers and proprietary games tied to MGM brands like the Bellagio and Aria. ### What are BetMGM's key marketing and promotional strategies? BetMGM invests heavily in celebrity endorsements and sports partnerships—including a deal as an official sports betting partner of the NFL. The platform runs aggressive new-player promotion campaigns (risk-free first bets, deposit matches, bonus bets) to acquire customers in newly opened states. BetMGM also leverages MGM's entertainment assets and sports teams relationships for exclusive content and promotion access. ### What states is BetMGM available in? BetMGM operates sportsbook and/or iGaming products in 20+ states including New Jersey, Pennsylvania, Michigan, New York, Ohio, Illinois, and Arizona, expanding as additional states legalize sports betting and online casino gaming. ### What is BetMGM's BIG Shots loyalty program? BetMGM's loyalty program integrates with MGM Rewards, allowing players to earn Tier Credits that count toward MGM hotel and casino status, and Reward Credits redeemable for bet credits or real-world MGM perks. ### How does BetMGM's iGaming offering compare to its sportsbook? BetMGM operates both a sportsbook and an online casino (iGaming) in states where both are legal. Its iGaming product is one of the strongest in the US market, featuring live dealer tables, slots, and exclusive games from MGM casino IP. ### What sports does BetMGM cover? BetMGM covers all major US sports leagues including NFL, NBA, MLB, NHL, and college sports, as well as international sports including soccer, tennis, golf, MMA, boxing, and esports betting markets. ### How does BetMGM handle responsible gambling? BetMGM provides deposit limits, time limits, cool-off periods, self-exclusion tools, and reality check reminders, with mandatory verification and age-gating, complying with responsible gambling standards in each regulated market. ### In how many states does BetMGM operate sports betting? BetMGM operates in 28+ US states and Ontario, Canada for online sports betting, and is available in 7+ states for online casino gaming. Its geographic footprint is among the broadest of any US sports betting operator, leveraging MGM's land-based casino regulatory relationships to accelerate state licensing. ### What is BetMGM's key competitive advantage over pure-play digital competitors? BetMGM's primary advantage is its integration with MGM Resorts' land-based casino ecosystem. Players can link BetMGM accounts with MGM Rewards (65M+ members), enabling cross-channel rewards redemption between physical MGM properties and the digital platform—a unique omnichannel capability that FanDuel and DraftKings, as pure-play digital operators, cannot replicate. ### What products does BetMGM offer beyond sports betting? BetMGM offers BetMGM Sportsbook (online sports betting), BetMGM Casino (online slots, table games, live dealer), and Borgata Online (a regional iGaming brand particularly strong in New Jersey). The casino product is a significant revenue driver in states with legal online casino, where margins are much higher than sports betting. ### Who are BetMGM's parent companies? BetMGM is a joint venture between MGM Resorts International and Entain PLC (formerly GVC Holdings), a UK-listed global gaming company that operates brands including partypoker, bwin, and Coral. Entain provides the technology platform and operational expertise while MGM provides brand recognition and casino ecosystem integration. ### How does BetMGM's market share compare to FanDuel and DraftKings? FanDuel and DraftKings together command approximately 65-70% of the US online sports betting market, with BetMGM holding around 10-12% market share—positioning it as the third-largest US sports betting operator. In online casino, BetMGM performs stronger relative to sportsbook competition, as its casino product quality and MGM brand resonate with traditional casino players. ## Tags b2c, gaming, mobile-first, platform, north-america, payment-processing, fintech --- *Data from geo.sig.ai Brand Intelligence Database. Updated 2026-04-14.*