One of the challenges any organization faces is about getting customers to spend money with you and not the competition. Needless to say, one of the solutions for that is the idea of gift cards for specific brands. Today, gift cards are available for anything you can imagine and the sports betting industry is doing the same. According to the latest sports news coverage, BetMGM Launches Gift Cards to Facilitate Deposits.
The BetMGM gift cards are currently available in 8 states and will range between $25 to $50. Furthermore, over 6,000 locations will have them available for sale at popular stores such as Speedway, Sheets and Dollar General. One of the advantages of buying a BetMGM gift card is that it will also come with a $10 bonus.
BetMGM Launches Gift Cards with TAPPP
In order to do that, the online sports betting company and iGaming Brand is using TAPPP, a payment processing provider. TAPP is a subsidiary of Swissclear Global which is a digital entertainment service provider out of New York City. Furthermore, they are also the exclusive prepaid card provider for the MLB.
The reason for the BETMGM brand gift card is to facilitate deposit in the sportsbook by gamblers. The launch of the gambling gift cards comes right during the start of the football betting season to maximize profits.
In addition, the arrival of the sports betting gift cards coincides with the start of the holiday shopping season. According to market research, shoppers will buy at least one gift card per year. Thus, BetMGM is also hoping to enter the multi-billion gift card market with its own brand.
BetMGM is not the first online sports betting company to use this strategy. Last year, Draftkings made its own prepaid gift card in partnership with inComm payments. Both online gambling companies made the gambling gift cards available as an easier way for customers to fund their account. This is because according to Korea Wager, deposits are one of the biggest problems amongst online sportsbooks and casinos.
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