To expand revenue streams, X, led by CEO Linda Yaccarino, has entered into a partnership with leading sports betting platform BetMGM. The announcement, made by Yaccarino on Friday, heralds the integration of sports betting services directly into the X platform, offering users an enhanced interactive experience.
Yaccarino expressed enthusiasm for the partnership, emphasizing the aim to bring sports enthusiasts closer to the action, reported the Washington Times. Through X, users will gain access to real-time sports betting odds, initially focusing on professional football, with plans to incorporate more sports in the future. However, direct betting functionality within X will require users to navigate to the BetMGM website for transactions.
Both X and BetMGM foresee future developments in the integration, hinting at the possibility of streamlined in-app betting options. This move aligns with X’s broader strategy to transform into an all-encompassing “everything app,” facilitating activities ranging from social media engagement to financial management, under Elon Musk’s leadership since late 2022.
Facing shifts in revenue sources, particularly amid advertiser reluctance due to Musk’s controversial decisions and statements, X has sought diversification strategies. Despite challenges, the platform has achieved milestones, securing exclusive video content deals with prominent figures like Tucker Carlson and Don Lemon. Notably, X surged in popularity on Apple’s App Store following Carlson’s exclusive interview with Russian President Vladimir Putin.
The incorporation of sports betting into X’s offerings presents an opportunity to engage and retain sports enthusiasts already active on the platform. However, financial details regarding revenue sharing from the partnership were not disclosed in the announcement.
As X continues its evolution into a multifaceted digital ecosystem, the BetMGM collaboration underscores Musk’s vision to enhance user engagement and broaden the platform’s utility beyond its initial scope. With the potential for further innovations and integrations, X aims to solidify its position as a comprehensive destination for diverse user interests and activities, with sports betting as a key addition to its growing set of features.