BetMGM expanded its suite of wagering opportunities with a new partnership with NYRA Bets, the official online wagering platform of the New York Racing Association (NYRA). The deal was announced Friday.
NYRA Bets becomes BetMGM’s first horse racing partner and the partnership will give BetMGM customers access to thoroughbred, harness and quarter horse racing from 200 tracks around the world.
For its part, BetMGM is one of the leading online sportsbooks in the United States.
Horse Wagering Continues To Expand
While sports wagering — which applies to familiar team sports, golf, tennis and combat sports — is limited to those jurisdictions that have legalized that specific type of wagering, betting on horse races, whether over the telephone or internet and, of course, at tracks and OTBs, has been more broadly available across the country for years.
For instance, NYRA Bets is available in 30 states, allowing horse players to watch and bet on races from home, and it expects to expand its audience reach and attract more customers across the country. The platform was launched in 2016 and thrived during the COVID-19 pandemic with horse racing sometimes being in action when other sports were shut down.
BetMGM customers will have access to daily horse racing content, including live streaming video of races and race replays. Among horse race wagering opportunities will be fan favorites such as Triple Crown events, the Breeders’ Cup, as well as international events, such as the Royal Ascot meet and the Dubai World Cup.
Deal Benefits Both Sides
This is a partnership that should be helpful to both sides. BetMGM gets to offer wagering in jurisdictions that have yet to otherwise approve sports betting and NYRA Bets/NYRA makes some headway in maintaining horse racing’s relevance during a challenging time for the sport.
“This is the type of partnership that reflects the importance of horse racing within the rapidly evolving sports betting marketplace,” NYRA Bets President Tony Allevato said in a news release. “BetMGM has consistently led the charge to expand wagering opportunities for their customers, and we are thrilled that our horse racing content will soon be available on their platform.”
In the rapidly moving and highly competitive world of sports wagering in America — especially online — BetMGM has emerged as one of top four or five operators in the country and product differentiation is another strategy in capturing market share.
“We’ve found a great partner in NYRA Bets and look forward to working with them to create a thrilling, interactive experience for horse racing fans on BetMGM,” BetMGM CEO Adam Greenblatt said.
Just In Time For Belmont Stakes
The BetMGM-NYRA Bets announcement comes just as NYRA is preparing for its most important event of the year, the Belmont Stakes on June 5. The Belmont Stakes will be televised on NBC from 5-7 p.m. ET, along with earlier races on NBCSN from 3-5 p.m.
The 153d running of the Belmont lacks the luster of having a horse going for a Triple Crown title with the Kentucky Derby and the Preakness Stakes producing different winners. However, a solid field, including Preakness winner Rombauer and a handful of Derby runners, is still expected for the third jewel of the Triple Crown.
The horse who crossed the finish line first in the Kentucky Derby, Medina Spirit, is still the winner there pending a drug re-test. He failed a post-race test throwing the outcome in doubt. Medina Spirit's trainer, Hall of Famer Bob Baffert, will not have any horses in the Belmont. He has been suspended from New York tracks pending the outcome of the Derby re-test.
