BetMGM and flexible payment options provider TAPPP have expanded the distribution network of BetMGM’s gift card.
Upgrading a partnership that began back in September last year, the number of stores that will carry BetMGM prepaid cards is expected to double from around 6,000 to more than 12,000 in the current quarter.
Commenting on the expansion, Matt Prevost, Chief Revenue Officer of BetMGM, said: “The launch of our prepaid sports betting card business has exceeded all expectations, and we are looking forward to even greater success as legal sports betting continues to enter new markets across the country.
“The program’s expansion this quarter is the latest phase of our continued successful partnership with TAPPP to provide customers with an easy and responsible way to fund their BetMGM accounts.”
BetMGM gift cards are now available in 12 states, with recent debuts taking place in New York and Pennsylvania, and launches coming soon in Wyoming and Mississippi.
The expansion taking place this quarter will see the gift card grow its distribution network in grocery stores, as well as in big box/home improvement stores.
TAPPP’s API-driven platform, which powers the card, provides BetMGM with real-time redemption data, assisting their marketing and acquisition campaigns. The provider also offers strategic support, payment servicing, and sales analytics to the operator, which helps to drive sales and customer retention.
BetMGM gift cards have a redemption rate of 99%, with nearly 75% of customers redeeming their purchases within just two hours.