It didn’t take long for some real action to start in the newly minted Maryland legal sports betting scene. It was just Tuesday that Maryland Governor Larry Hogan signed a legal sports betting bill into law and by Wednesday, the state’s preeminent pro sports franchise had already teamed up with an elite sportsbook to become their first Official Gaming Partner.
BetMGM was the lucky provider to gain the honor of partnering with the Baltimore Ravens, one of the up-and-coming franchises in what is by far the most bet on league in the world – the NFL. The move is huge for both sides and could be the start of an avalanche of such partnership deals within the Maryland scene.
The Deal
The Ravens/BetMGM multi-year partnership is a typical win-win for both entities. For BetMGM it is all about the exposure that the company will gain, before, during and after Ravens games in digital media, and on integrated social media content. BetMGM signage will be everywhere at M&T Bank Stadium. BetMGM also gains the right to use Baltimore Ravens marks and logos and official Ravens data on its sports betting products.
Rumors persist about a BetMGM private hospitality suite at M&T Bank Stadium.
“The Ravens are an incredible organization with a rich history, and we’re proud to become the team’s first official partner in the gaming space,” said Matt Prevost, BetMGM’s chief revenue officer. “Through BetMGM, Ravens fans will be able to engage with their favorite football team at a new and heightened level.”
For the Baltimore Ravens, they get the chance to maximize their total fan experience through a host of targeted fan promotions and betting opportunities that come along with such a deal. Having one of the top betting brands in the bustling US market will serve the club well going forward.
“When we began the process of carefully identifying sports betting and digital gaming partners, one of our top priorities was finding unique ways for Ravens fans to further engage with the team,” Ravens Chief Sales Officer Kevin Rochlitz said in the release. “We are excited to partner with BetMGM and look forward to the specialized entertainment experience the company will provide for our fans.”
More Questions Than Answers
The Ravens/BetMGM deal comes a day after the state of Maryland signed legal sports betting into law. Along with the infancy of the platform in the state comes a lack of clarity of just what the platform will look like and how betting might work at the stadium, either in-person or through a mobile app.
A strong regulatory framework still has to be worked out for the industry in Maryland. It remains to be seen if sports venues will be allowed to offer betting opportunities year-round or just on game days.
There is also the question of whether the Ravens themselves will apply for a sports betting license, if the MD Stadium Authority, who owns M&T Bank Stadium will beat them to the punch, if BetMGM intends to operate a retail sportsbook at the stadium or if betting will be confined to a BetMGM-branded betting lounge.
Building the Brand
BetMGM hasn’t been shy about building their brand during the legal sports betting gold rush currently taking place in the US market. The company now has platforms in 12 states and is consistently growing its already impressive 22% market share.
BetMGM has smartly hitched its wagon to the NFL, forging similar partnerships with the Denver Broncos, the Tennessee Titans, the New York Jets, the Detroit Lions, the Las Vegas Raiders and Pittsburgh Steelers. Other team partnerships outside of the NFL include the NHL’s Las Vegas Golden Knights and Detroit Red Wings, MLB’s Washington Nationals and the WNBA’s Las Vegas Aces.
BetMGM also has Official Betting Partnership deals in place with most major North American leagues including the NBA, MLB, NHL, WNBA, MLS, NASCAR, PGA TOUR, LPGA TOUR.
Not the Last For BetMGM or the Baltimore Ravens
Sports betting partnerships between providers and teams seem to be ramping up by the day. Certainly, this is not the last we will see of such deals. BetMGM has been on a march toward provider dominance within the US scene and the BetMGM deal marks jut the first of potentially many for the Ravens.
The Denver Broncos currently have three Official Sports Betting Partnerships, and the Baltimore football club is expected to follow that model, perhaps within the next few weeks.
The Baltimore Orioles and the Washington Football Team are now on the clock to sign their own Official Betting Partner deals. All eyes will be on the brand-new Maryland scene until that time.
Calculators
