BetMGM is becoming one of the leading sports betting brands in the U.S. Now, they are adding in another feature to help boost interest in its mobile betting app. They partnered with BetGenius to bring Parlay Builder to the BetMGM platform.
“Parlay Builder gives our pre-game betting offering another dimension; it’s engaging, easy-to-use and extensive, therefore appealing to serious and recreational bettors alike. We’ve witnessed the success of BetBuilder in Europe and anticipate a similar trajectory in the U.S.,” said Matt Prevost, CMO at BetMGM.
Bettors will build parlays from the same game giving BetMGM customers more betting options when using the platform. The Parlay Builder will be a game-changer for the sports betting industry, and BetMGM could be on the leading edge of something special.
What is the Parlay Builder?
The Parlay Builder is a software used by BetGenuis, who BetMGM just partnered with. The feature is free to use and can only be used for the same game parlays.
The idea is to allow anyone to parlay a game spread, total, halves, props, or more.
Normally, sportsbooks do not allow for these types of bets to be placed, as if it is done right, then the books could take a serious hit by sharp bettors. However, BetMGM will embrace the new technology and try out Parlay Builder on their mobile betting app.
BetMGM also believes that Parlay Builder will help educate new bettors. When creating a parlay, bettors do not understand the odds do not shift in your favor as you need multiple bets to hit to succeed. However, with Parlay Builder, new bettors can see how correlations in a game could actually shift the odds in favor of the bettor.
A player could parlay a quarterback passing yards prop, the teams’ first-half spread, and game money line. Everything is correlated to the same game, making more sense when creating a parlay compared to parlaying three different outcomes in three different games.
All three outcomes happen in the same game, so if a bettor feels confident with the handicap, then he could roll with the Parlay Builder.
Could More Sportsbooks Do This?
Right now, BetMGM is putting themselves on an island with the BetGenius partnership. Everyone else will take a wait and see approach if the new Parlay Builder technology is successful.
Sportsbooks usually do not offer the same game parlay’s as it creates a huge risk for the sportsbooks when it is properly done. However, the Parlay Builder feature could be a game-changer as this could also help generate more bets from novice users.
There is also a good chance that there will be limits on how much you could bet on same-game parlays. They could use a sliding scale that if more legs are added, then bettors must wager less.
Regardless, BetMGM is doing anything possible to help bring in more revenue. New Jersey has been very competitive since launching sports betting, and the company is only seeing 10% of the market share. Maybe Parlay Builder will help attract more customers to the BetMGM platform.