July 14, 2023
BetMGM has significantly reduced its promotional spend. In May, during a period of relatively low sports-betting activity, BetMGM decreased its bonuses and promotional spend by over 40% compared to previous levels. This pullback by BetMGM goes against the trend observed in the rest of the market, where other operators increased their promotional spending during the same period. In Michigan, total market promotional spend rose by 19% year over year, in Pennsylvania it increased by 28%, and in Maryland, there was a 21% month-over-month increase. DraftKings, in particular, increased its promotional spend significantly in the three states. In Michigan, DraftKings raised its spend by 117% year over year, in Pennsylvania, it soared by 226% year over year, and in Maryland, its spend rose by 81% month […]