- Madison Square Garden files a patent for sports betting operations on mobile and online
- The new subsidiary to offer extensive analysis and coverage of sports betting and esports
- Esports are an official vertical of interest
New York’s Madison Square Garden (MSG)’s parent entity is planning to jump on sports betting, following a patent filing for a subsidiary.
Madison Square Garden and Sports Betting Opportunities
The Madison Square Garden Company, which is in charge of MSG and runs a number of sports betting spaces in Los Angeles along with developing shops in Las Vegas and London, has filed an official application with the U.S. Patent and Trademark Office.
The company plans on launching its own MSG online sports betting brand, which will also permeate other mediums and channels, such as social media and mobile betting. The parent company already owns a number of sports franchises, including ties in the highly-grossing competitive video gaming (esports) industry. Meanwhile, an MSG spokesperson has commented for the Action Network on the developments thus:
We have said we’re very interested in the opportunities legalized sports gaming could bring, and recognize that we have a brand, in MSG, that is recognizable around the world for its connection to iconic sports.
MSG will be making a determined push when it comes to its mobile platform, hoping to introduce a number of high-grossing segments, including Daily Fantasy Sports (DFS) along with both sports & esports broadcasts, replays, video on demand, previews, analysis and much more. Apart from running a sports bookmaker, the subsidiary will focus on providing exclusive and targeted digital content for fans who indulge in both esports and mainstream competitions.
MSG plans on introducing a number of peer-to-peer based competitions alongside interactive real-time gaming. It’s possible that MSG will seek to utilize VR and AR solutions as an exclusive form of distributing content to esports fans, for example, although the segment is still under-developed.
No Country for Old Operators: MSG’s Sports Betting is Mobile & Online
The patent doesn’t mention anything about working on actual land-based betting venue or betting operations at the MSG home arena, which hosts a number of competitions for NFL team New York Rangers and NBA franchise, the New York Knicks.
In May, 2018, the company made another important move towards diversifying its portfolio with the addition of the Knicks to the esports competition based on mainstream basketball, the NBA 2K League. This digital competitive format has been one of the most successful esports Leagues, despite its young age.
NBA Commissioner Adam Silver spoke favorably on the occasion of the inauguration of the 2K League, welcoming the new entity as a full-blown member of the family. MSG’s interest in launching mobile & online-focused activities is indicatory of the forward-thinking innovative approach the company always employs across all businesses.
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While MSG will still have to wait a while for sports betting to become legal in New York, legal actions have already been taken.
Senator Joseph Addabbo has filed a bill earlier this month that outlines a possible way for the legalization of the industry in the state. Sports betting bills have been failing to gather support for several years in New York. MSG most likely expects that this time it would be different.