Betting on Baseball

MGM and MLB reached a deal that will eventually put baseball betting money in the pockets of the game:

What is MLB getting out of the deal?
Money, presumably lots of it. Financial terms of the deal were not disclosed but Maury Brown of Forbes reports the deal is “substantial” for MLB. MLB took a hard line against casinos for years and years, decades even, though things started to change within the last year or two, once MLB realized they could make a lot of money out of such an arrangement. Fans have been betting on baseball for as long as the sport existed. Now MLB will get a cut of that gambling money.

What is MGM getting out of the deal?
According to the press release, MGM will “domestically promote its brand and gaming options across MLB’s digital and broadcast platforms, including MLB Network, MLB.com, the MLB At Bat app and additional fan engagement offerings to be jointly developed.” They’re also getting access to some exclusive “enhancing statistics,” which they will then use to set betting lines. MGM will have a presence at MLB Jewel Events, such as the All-Star Game and World Series, and in overseas grassroots events.

MGM recently opened a casino in downtown Springfield, MA, a few miles from my house. Sports betting is not yet legal in Massachusetts, but I suspect with this deal it will be soon, as the state will want a cut of the revenue as well.

from baseballmusings.com https://ift.tt/2FLpZJP