BetMGM plots “iterative” total app overhaul
US sportsbook operator to transition to single account and wallet platform in new UX-efficient app beginning in 2022
BetMGM has revealed plans to completely redesign its sportsbook and igaming app for mobile users beginning in the latter half of 2022 and extending into 2023.
Details of the plans were revealed at the annual BetMGM Investor Day as part of the operator’s product strategy presentation, which focused on three areas: customer experience, a differentiated product and content as well as better utilizing of the Entain technology stack.
A central aspect of the redesign is the transition to a single account, single wallet API, with a reimagining of the mobile visuals, as well as improved user experience, with the aim of producing optimized betting experiences for its users.
This unified single account, single wallet solution is designed to allow for single sign-ups wherever a customer is located, a single wallet for deposits and withdrawals as well as the consolidation of rewards accrued through the new M Life Rewards program, following its own rejig earlier this year.
“This new experience will include a complete refresh of our visual design and will also significantly improve our user experience, making our products cleaner, faster, and easier to use,” CEO Adam Greenblatt told investors.
“The separate features will rollout iteratively starting in 2022 and continuing into 2023,” he added.
In addition to its app enhancements, BetMGM has committed to improving its sportsbook app through the addition of new betting markets.
“As part of our redesign effort, we will deliver an even better one game parlay experience. We expect this investment to pay dividends and increase both customer adoption and margin for our sportsbook,” Greenblatt said.
“Omni-channel continues to be a key differentiator for BetMGM. This past year, our retail business in Las Vegas set a record high despite continued disruption of Covid-19.
“We’ve seen customers adopt digital at an even greater rate, with a 126% increase in customers depositing using both retail and digital methods in Q1 2022,” he added.
Elsewhere in BetMGM’s Investor Day update, the igaming and sportsbook operator suggested it had established itself as the market leader in the US market, ahead of direct rival FanDuel.
As evidence for this assertion, BetMGM cited a 25% operational market share in igaming and sports betting combined, rising to 29% for just igaming in isolation.
In addition, the operator reaffirmed its -year 2022 guidance to reach net revenue of $1.3bn, with the aim of becoming EBITDA-positive in 2023.
The firm also restated its longer-term goals of generating a US market share of 20%-25% and an expected EBITDA margin of between 30%-35%.