{"id":214143,"date":"2022-05-18T10:12:48","date_gmt":"2022-05-18T17:12:48","guid":{"rendered":"https:\/\/www.casino.org\/news\/?p=214143"},"modified":"2022-05-18T12:37:43","modified_gmt":"2022-05-18T19:37:43","slug":"betmgm-gift-card-program-undergoing-major-expansion","status":"publish","type":"post","link":"https:\/\/www.casino.org\/news\/betmgm-gift-card-program-undergoing-major-expansion\/","title":{"rendered":"BetMGM Expands Gift Card Distribution to Grocery, Hardware Stores"},"content":{"rendered":"

BetMGM and its gift card partner TAPPP are unveiling a massive expansion of that progam’s gift card distribution network.<\/p>\n

\"BetMGM
An image of a BetMGM gift card. The operator and its card partner announced a major expansion of that program. (Image: Sports Insider<\/em>)<\/figcaption><\/figure>\n

On Tuesday, the companies said the number of retail stores carrying BetMGM gift cards will \u201croughly double\u201d in the current quarter to more than 12,000 from about 6,000 today. TAPPP is a New York-based payments provider. The companies originally partnered on gift cards<\/a> right before the start of the 2021 NFL season.<\/p>\n

BetMGM’s partnership with TAPPP launched in September 2021, attracting a vast group of new customers, and providing existing customers with a fast, flexible option to fund their BetMGM accounts in states in which sports betting is legal,\u201d<\/strong> according to a statement issued by the firms.<\/p><\/blockquote>\n

News of the expanded program arrives just days after BetMGM forecast $1.3 billion in 2022 revenue<\/a>. The gaming outfit is a 50\/50 joint venture between MGM Resorts International (NYSE:MGM) and Entain Plc (OTC:GMVHY).<\/p>\n

Big Expansion for BetMGM Gift Cards<\/h2>\n

BetMGM announced its entry into the gift card arena last September. The cards were initially available in eight states at retailers such as Dollar General, Kum & Go, Sheetz, and Speedway.<\/p>\n

\n

Following recent debuts in New York and Pennsylvania and pending launches in Mississippi and Wyoming, the gift cards will be available in 12 states. Currently, BetMGM is live across 23 US markets<\/a> and in Ontario, Canada. The sportsbook operator and TAPPP are targeting significant additions to where consumers can purchase the pre-paid cards.<\/p>\n<\/div>\n

\u201cThis quarter’s expansion will push the distribution network further into the grocery segment, a vastly underutilized retail space in sports betting prepaid cards, and within big box\/home improvement retailers,\u201d according to the statement.<\/p>\n

Translation: Shoppers buying a gallon of milk or a hammer at a home improvement retailer will also be able to indulge in BetMGM gift cards. The gaming company and TAPPP didn\u2019t mention specific grocery or hardware retailers at which the cards will be sold.<\/p>\n

Data Confirm Enthusiasm for BetMGM Gift Cards<\/h2>\n

Regardless of industry, it\u2019s beneficial to the issuer when gift cards are sold. But it\u2019s even better when consumers redeem the cards, because that\u2019s when companies can count the card value as revenue. Users also often spend more than what\u2019s on the card.<\/p>\n

BetMGM and TAPPP didn\u2019t comment on spending trends, but they note redemption rates are stellar.<\/p>\n

\u201cSince its inception, the BetMGM gift card business has experienced an industry-leading redemption rate of 99%, with nearly 75% of customers redeeming their purchases within just 2 hours,\u201d <\/strong>note the companies.<\/p>\n

BetMGM isn\u2019t the first gaming operator to get into gift cards. In late 2020, DraftKings and InComm Payments formed a gift card deal.<\/p>\n","protected":false},"excerpt":{"rendered":"

BetMGM and its gift card partner TAPPP are unveiling a massive expansion of that progam’s gift card distribution network. On Tuesday, the companies said the number of retail stores carrying BetMGM gift cards will \u201croughly double\u201d in the current quarter to more than 12,000 from about 6,000 today. TAPPP is a New York-based payments provider. […]<\/p>\n","protected":false},"author":46,"featured_media":214144,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[1074,16693],"tags":[],"acf":[],"yoast_head":"\nBetMGM Gift Card Program Undergoing Major Expansion<\/title>\n<meta name=\"description\" content=\"Number of retailers selling BetMGM gift cards slated to double in current quarter.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.casino.org\/news\/betmgm-gift-card-program-undergoing-major-expansion\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"BetMGM Gift Card Program Undergoing Major Expansion\" \/>\n<meta property=\"og:description\" content=\"Number of retailers selling BetMGM gift cards slated to double in current quarter.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.casino.org\/news\/betmgm-gift-card-program-undergoing-major-expansion\/\" \/>\n<meta property=\"og:site_name\" content=\"Casino.org\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/Casino.OrgNews\" \/>\n<meta property=\"article:published_time\" content=\"2022-05-18T17:12:48+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-05-18T19:37:43+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2022\/05\/card.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1761\" \/>\n\t<meta property=\"og:image:height\" content=\"848\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Todd Shriber\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@etfgodfather\" \/>\n<meta name=\"twitter:site\" content=\"@Casino_Org\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Todd Shriber\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.casino.org\/news\/betmgm-gift-card-program-undergoing-major-expansion\/\",\"url\":\"https:\/\/www.casino.org\/news\/betmgm-gift-card-program-undergoing-major-expansion\/\",\"name\":\"BetMGM Gift Card Program Undergoing Major Expansion\",\"isPartOf\":{\"@id\":\"https:\/\/www.casino.org\/news\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.casino.org\/news\/betmgm-gift-card-program-undergoing-major-expansion\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.casino.org\/news\/betmgm-gift-card-program-undergoing-major-expansion\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2022\/05\/card.jpg\",\"datePublished\":\"2022-05-18T17:12:48+00:00\",\"dateModified\":\"2022-05-18T19:37:43+00:00\",\"author\":{\"@id\":\"https:\/\/www.casino.org\/news\/#\/schema\/person\/f4cecf70a5032bc4e60eb73fc86d4a85\"},\"description\":\"Number of retailers selling BetMGM gift cards slated to double in current quarter.\",\"breadcrumb\":{\"@id\":\"https:\/\/www.casino.org\/news\/betmgm-gift-card-program-undergoing-major-expansion\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.casino.org\/news\/betmgm-gift-card-program-undergoing-major-expansion\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.casino.org\/news\/betmgm-gift-card-program-undergoing-major-expansion\/#primaryimage\",\"url\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2022\/05\/card.jpg\",\"contentUrl\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2022\/05\/card.jpg\",\"width\":1761,\"height\":848,\"caption\":\"An image of a BetMGM gift card. 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