The fast-growing legal sports betting industry is extending its reach to the middle of the ocean.
BetMGM and Carnival Corporation announced a deal Friday to put sports books on more than 50 U.S.-based ships.
The arrangement will allow betting while the ships are at sea or while docked at a port in a state that allows sports betting. Passengers can bet using a mobile app or at physical kiosks on the ship.
It encompasses the Carnival Cruise Line, Holland America Line and Princess Cruises. Princess began offering sports betting last October.
The sports betting operations will be phased in over the next few months, BetMGM said.
“We’ve found an ideal partner in Carnival Corporation and look forward to providing our sports betting and iGaming products to its millions of passengers,” BetMGM CEO Adam Greenblatt said in a statement. “This is another great opportunity for us to further expand BetMGM’s footprint.”
The ships already offer casino gambling with slots, table games and poker. Friday's deal adds sports betting and online casino gambling to the mix to complement the physical shipboard casinos.
The two companies will collaborate on marketing and promotions.
Sports betting is growing rapidly in the U.S. In the four years since a U.S. Supreme Court decision clearing the way for any state to offer legal sports betting, Americans had wagered over $125 billion as of mid-May.
___
Follow Wayne Parry on Twitter at www.twitter.com/WayneParryAC
Before you consider Carnival Co. &, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Carnival Co. & wasn't on the list.
While Carnival Co. & currently has a "Moderate Buy" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
MarketBeat's analysts have just released their top five short plays for May 2024. Learn which stocks have the most short interest and how to trade them. Click the link below to see which companies made the list.
Get This Free Report
