X to incorporate sports betting statistics for Super Bowl
What's the story
X is planning to introduce a new sports betting feature after partnering with digital gambling platform BetMGM, per Fortune.
This will allow users to access sports gambling statistics directly on the platform, along with a link to place bets.
The financial details of the partnership remain undisclosed. However, it comes two weeks before Super Bowl LVIII—a massive traffic draw for X.
To recall, X experienced a high volume of traffic, leading to app crashes during Rihanna's halftime show last year.
Platform details
BetMGM's background and competition
BetMGM is the online sports betting arm of MGM Resorts International, a Las Vegas-based hospitality company with a luxury hotel portfolio worth around $15 billion.
BetMGM was launched in 2018 after MGM struck a deal with United Kingdom-based gambling operator GVC Holdings.
The betting platform competes with gambling platforms such as DraftKings and FanDuel.
Representatives for X and BetMGM are yet to comment on the reported collaboration.
Game
Super Bowl LVIII and betting expectations
Super Bowl LVIII, the upcoming American football championship game, is just two weeks away.
It is expected to draw a record 50.4 million adults in the United States (US) placing bets on the game.
Most of these bets will be in the form of proposition wagers, commonly known as "prop bets," which focus on in-game events that aren't directly tied to the game's final outcome.
Expectations
Six-to-seven-figure bets anticipated
Carl Johnson, the BetMGM sports director of Beau Rivage Casino, reportedly said, "Since 60 to 70% of our Super Bowl handle will be in prop bets, we'll have a prop catalog listing 400 to 500 prop bets to hand out to our customers."
He also mentioned the likelihood of several six-figure bets and even some seven-figure bets.
On a related note, American singer Usher is set to headline the halftime show this year.