BetMGM is looking to enrich the user experience through the launch of its digital wallet, focusing on the evolution of the omnichannel experience.
Powered by Entain’s technology, it enables app residents and visitors of Nevada to wager in the state and carry their funds to BetMGM mobile markets nationwide.
Adam Greenblatt, BetMGM CEO, commented: “We’re proud to lead the charge in Nevada with a single account and wallet that simplifies and elevates the betting experience. Our players can now immerse themselves in the excitement of MGM Resorts’ Las Vegas destinations or statewide while seamlessly continuing to place wagers in other BetMGM markets.”
The app looks to increase efficiency within the onboarding process, allowing players to sign up remotely at the MGM Resorts property in Nevada.
When travelling to another jurisdiction, users will receive a pop-up message upon opening the app allowing them to switch to their account within the BetMGM market where they are currently located. Customers also can manually select their market within the app’s account tab to view their account for that state.
In a recent interview with Payment Expert, Liron Warhaftig, VP – Payments, Risk & Fraud Prevention at BetMGM, pinpointed digital wallets and instant payments as the two most crucial financial assets within igaming.
He said: “The most promising financial innovations for the betting experience are instant payments and digital wallets. These technologies offer faster and more secure transactions, which significantly enhances the overall user experience. Digital wallets, such as PayPal or Apple Pay, provide quick and easy deposit options, drastically reducing transaction times.”
He also underlined that it is crucial for compliance frameworks and KYC strategies to keep pace with technological advancements to avoid security vulnerabilities and regulatory breaches.
“AI and machine learning, for instance, can strengthen KYC processes by rapidly detecting fraudulent activities and verifying user identities in real time”, added Warhaftig.
“This proactive approach not only helps maintain regulatory compliance but also safeguards companies and their customers from potential threats.”
