BetMGM vs DraftKings - Which Sportsbook is better?
The American online sports betting industry is filled with a lot of giant sportsbook brands, competing for the huge market share available across states where online sports betting is legally allowed in the country. This ensures bettors have a wide range of options to wager on, with the operators making brilliant efforts towards satisfying them. Let's take a closer look at two of them in a comparative analysis.
BetMGM and DraftKings are two of the biggest sportsbook operators in the United States. Both online sports betting brands have excelled across the country and could easily rank among the top 3 sportsbooks in each of the states they maintain operations in. The two brands have a great record investing heavily in promotions in a bid to lure new bettors across the country as well as loyalty bonuses to keep current users happy and devoted to their betting platforms.
BetMGM
Founded in 2018 by Nevada-based MGM Resorts International and International gambling company Entain, BetMGM has branded itself as a premier sportsbook in the United States. Previously named PlayMGM, the online sportsbook operator quickly rebranded as BetMGM and set its path on to greatness. MGM Resorts’ partnership with Entain was key to BetMGM’s fast growth. The UK company is no stranger to online sports betting as it already owns household names like Ladbrokes, Bwin, Coral, PartyPoker and Sportingbet. The proprietary technology offered by London-listed Entain, coupled with market access and pull MGM brings to the table, aided BetMGM in cementing its place as a top brand in the industry.
DraftKings attempted to acquire Entain in a $22.4 billion deal in 2021 but the relationship with MGM complicated the deal and made it fall through. MGM Resorts International and Entain would eventually further strengthen their relationship by increasing their joint investment in BetMGM to a total of $1 billion after pledging to invest $450 million in the sportsbook in early 2022.
BetMGM sportsbook is renowned for its stylish interface and user-friendly design which offers bettors a whole lot of convenience while using the platform. The sportsbook brand offers bettors a wide range of sports and betting markets with highly impressive functionality that enables supreme betting experience.
DraftKings
Having exploded to fame as the country's leading provider of Daily Fantasy Sports contests, DraftKings is arguably the biggest online sports betting brand in the United States. Founded in 2012 by Jason Robin, Matthew Kalish, and Paul Liberman who were all three former Vistaprint employees, the sportsbook operator has established itself as a titan in the American sports betting industry. Operating with legal approval in 19 states across the federation, the formerly Kambi-powered sports betting platform is the most widely available sportsbook in the United States. DraftKings also operates an online casino as well as an NFT marketplace which helps it further reinstate its brand as a household name in the country.
DraftKings became a publicly traded company on the New York Stock Exchange in 2020 after a reverse merger occurred with Bulgarian white-label sportsbook provider SBTech and special-purpose acquisition company Diamond Eagle Acquisition Corp. The company acquired online casino and sports betting operator Golden Nugget Online in 2021 in a deal worth approximately $1.6 billion in stocks. It would later in the year attempt to buy Entain, a company that owns 50% of BetMGM in a $22.4 billion deal but complicated situations led to the collapse of the deal. Even though it operates its sportsbooks platform in a handful of states where sports betting is legal, DraftKings continues to offer its Daily Fantasy Sports contest across the country.
Comparison of BetMGM and DraftKings
In examining the two sportsbooks comparatively, we will take a broad look at areas in which they've excelled, and also parts that pretty much need improvements. The two heavyweights will be pitched against each other in a couple of categories including welcome offers, available sports, deposit & withdrawal, live betting, mobile app, geographical coverage and loyalty programs. A final verdict will be delivered on which sportsbook wins the battle in every category.
Welcome Offers
BetMGM offers its new customers a welcome bonus in the form of risk-free bets. The sportsbook provides a bet insurance worth up to $1,000 to users on their first bet after sign-up. New users have to deposit into their account and wager on a sporting event of choice. BetMGM will refund their stake in the form of site credit up to a maximum of $1,000 with a one-time playthrough requirement if the bet ends up in a loss.
DraftKings offers new users a "bet $5, win $150" bonus when they sign up to the platform. The sportsbook provides a welcome bonus of $150 in free bets to new users after they wager $5 on any sporting event in a pregame moneyline and it ends in a win. The free bets come in six $25 bets that have to be entirely used within seven days. The free bets come as an extra bonus to the cash winnings from the $5 wager.
Winner: BetMGM
Available Sports
BetMGM and DraftKings currently offer bettors an almost identical number of sports on their platforms. The two sportsbook brands cover major sports as well as competitions in comprehensive detail. They both offer the option to wager on sporting events across several countries around the world. However, BetMGM's coverage comes with greater detail and broader selections than that of DraftKings.
Winner: BetMGM
Deposit and Withdrawal
BetMGM and DraftKings both offer bettors eight options to deposit funds into their account. This includes online banking, debit and credit cards, eChecks, PayPal, etc. BetMGM, however, has a higher minimum deposit of $10 than DraftKings which allows punters to fund their account with at least $5.
BetMGM payout withdrawals within 3-5 business days of request can be made via Paypal, eChecks, Play+, etc. DraftKings withdrawals are also processed within the same period, but they are sometimes faster and users get to receive the fund earlier than scheduled.
Winner: DraftKings
Live Betting
BetMGM and DraftKings both offer bettors in the United States a highly comprehensive and full-scale live betting section. The live betting pages of both sportsbook operators are pretty easy to navigate and understand with the lines getting updated regularly.
DraftKings has a fairly higher coverage of sports in-play, including table tennis, dart and snooker. However, a much more exhaustive live betting coverage is available on BetMGM in sports like soccer, with more options for bettors to choose from.
Both Sportsbooks offer live streaming of games to bettors, courtesy of a deal struck with Switzerland-based company Sportradar. Both Sportsbooks also permit users to cash out during live betting before the game is completed.
Winner: Tie
Mobile App
Aside from access through their official website, BetMGM and DraftKings provide users a sport betting app available on both Android and iOS. The DraftKings mobile app is rated 4.8 on both Google Play and Apple App Store. BetMGM, on the other hand, has an average user rating of 4.5 on Google Play and 4.8 on the Apple App Store.
The DraftKings app is lighter, a little quicker, and easier to navigate while BetMGM offers a more elegant interface and a wealth of options for bettors to wager on, which makes it a little heavier.
For easy, straightforward and casual betting, the DraftKings app does the job efficiently but the BetMGM app may be preferred by seasoned bettors for advance level betting.
Winner: DraftKings
Geographical Coverage
BetMGM and DraftKings are widely available to users in quite a few states where sports betting is legal in the United States. BetMGM is available online to bettors located in Arizona, Colorado, Illinois, Indiana, Iowa, Kansas, Louisiana, Maryland, Michigan, New Jersey, New York, Nevada, Pennsylvania, Tennessee, Virginia, Washington DC, West Virginia, and Wyoming.
DraftKings, on the other hand, is live for sport betting in Arizona, Colorado, Connecticut, Illinois, Indiana, Iowa, Kansas, Louisiana, Maryland, Michigan, New Hampshire, New Jersey, New York, Oregon, Pennsylvania, Tennessee, Virginia, Washington, West Virginia, and Wyoming. Both Sportsbooks will be launching in Ohio on January 1, 2023.
Winner: DraftKings
Loyalty Programs
BetMGM and DraftKings currently operate a similar loyalty program where bettors earn points for placing bets on sporting events and casino games. Both MGM Rewards and DraftKings Dynasty Rewards can be traded for free bet credit and other bonuses. The two heavyweights offer their loyalty bonus to users in tiers, which means users get more reward as they continue to wager on the sportsbook.
However, BetMGM offers an added advantage of racking up points at a wide network of retail casinos and Hyatt hotels, which presents it as a much broader sportsbook loyalty program.
Winner: BetMGM
BetMGM and DraftKings FAQs
Are Both BetMGM and DraftKings legal?
BetMGM and DraftKings are duly licensed sportsbook operators in the United States. They both operate legally in many states in which online sports betting is allowed. Both hope to further widen their scope. The two sportsbooks also have a record of operating within legal limits across the United States.
Who owns BetMGM and DraftKings?
BetMGM is co-owned in a 50/50 ownership by the Nevada-based household name MGM Resorts International and International gambling company Entain. DraftKings, on the other hand, is a publicly traded company after a reverse merger with SBTech and Diamond Eagle Acquisition Corp.
When did BetMGM and DraftKings kickstart operations?
DraftKings was founded in 2012 as a Daily Fantasy Sports contest provider in the United States and moved on to online sports betting when the Supreme Court declared Professional and Amateur Sports Protection Act (PASPA) illegal. BetMGM, on the other hand, was founded in 2018 after MGM and Entain agreed to invest in the operation of a sportsbook.
Who pays out faster - BetMGM or DraftKings?
BetMGM and DraftKings pay out customers within the same time frame of 3-5 business days. However, DraftKings withdrawal requests are processed a little faster on a couple of occasions, giving it an edge over BetMGM.
Is Live Betting available on BetMGM and DraftKings?
Live Betting is available on both BetMGM and DraftKings. Users can get to wager on ongoing sports events across several sports and competitions on both sportsbooks. Bettors can also stream live games on the two online sport betting platforms.
Which Sportsbook has the wider coverage - BetMGM or DraftKings?
Both sportsbooks maintain a wide network of coverage across the United States. BetMGM is available online in 17 states and the District of Columbia, while DraftKings has an edge with availability in 19 states of the federation.
What is the Legal Betting Age on BetMGM and DraftKings?
Legal betting age is not determined by sportsbooks in the United States. It's the duty of the regulatory body to determine who is legally allowed to place bets. However, most states allow individuals who are 21 years or older to bet, which is what the two sportsbooks adhere to.
Do BetMGM and DraftKings operate a mobile app?
Both BetMGM and DraftKings provide bettors a mobile app for sports betting which is available to users on both the iOS and Android operating systems. Users can adequately access all features available on the two sport betting websites in their mobile apps, creating an easy and efficient sports betting experience.
Do BetMGM and DraftKings offer different ways to deposit?
BetMGM and DraftKings both offer users eight different methods to deposit funds into their account. This includes online banking, PayPal, eCheck, Play+, etc. Deposits are instant on both sportsbooks, provided there are no technical issues with the provider of the preferred method of deposit.
Where are BetMGM and DraftKings headquartered?
Both BetMGM and DraftKings are headquartered in the United States. BetMGM is based in Jersey City, New Jersey, while DraftKings is based in Boston, Massachusetts.
