BetMGM is partnering with New York-based TV network Cheddar News to launch Cheddar Bets, according to a news release provided by BetMGM on Monday. The joint product that is coming this August would be a unique weekly program, examining the comparison between sports betting and financial markets.
BetMGM – the digital arm of the Nevada-based MGM Resorts International – will also serve as the exclusive sports betting partner of Cheddar News, according to the release.
Cheddar Bets to Premiere This Month
Cheddar Bets, which premieres Thursday, Aug. 19, will broadcast from a custom-built BetMGM studio in New York. The weekly program will enlighten the viewers about the sporting events of the week while analyzing their impacts on Wall Street. The one-of-its-kind program will also give insider access to behind-the-book information from BetMGM oddsmakers.
Both partnering entities have yet to announce the hosts and contributors of Cheddar Bets.
However, the latest partnership reflects BetMGM’s innovative expansion into a market held by two leading giants – FanDuel and DraftKings.
“As BetMGM continues to invest in innovative sports wagering content, we’ve found a formidable partner in Cheddar News,” BetMGM’s Chief Revenue Officer Matt Prevost said.
He noted that through Cheddar Bets, BetMGM will provide informative and entertaining programming in order to pull new audiences.
Cheddar News Sees Beyond the Horizon
Cheddar News General Manager Liam Roecklein said that the financial news network is looking beyond the horizon, focusing on what’s next in the world of tech, science, and innovation. The live streaming network wants to reach the modern and always-online news consumer, Roecklein said.
He added that with collaboration with an industry giant like BetMGM, Cheddar Bets will delve into the world of sports betting and its inevitable effects on related industries including sports, technology, regulation, financial markets, and more. Besides, the weekly program will also highlight the community that has transformed the game and keeps driving the sports wagering industry forward.
For decades, all these industries have stayed away from sports betting. But things have revolutionized since May 2018, when the Supreme Court struck down the PASPA in a move that allowed each state to legalize – if it wants to – sports betting in its jurisdiction.
BetMGM Continues to Grow
Months after the historic PASPA ruling, BetMGM was established as a joint venture between MGM Resorts International and UK-based GVC Holdings – now Entain – in July 2018.
Today, BetMGM has become the third-largest mobile sportsbook in the US, only behind FanDuel and DraftKings.
The New Jersey-based operator has exclusive access to all of MGM’s US-based casino properties and mobile sports betting, major tournament poker, as well as digital gaming businesses.
BetMGM has expanded its brand awareness through multiple sports betting deals with various professional leagues and high-profile figures.
In July, the operator teamed up with MLB’s Pittsburg Pirates, in a move that brings BetMGM to PNC Park.
Cheddar News, which adds to BetMGM’s growing list of partners, is a digital-first tv network that offers “in-depth reporting and updates on trending stories in fields ranging from politics to culture and entertainment.”