BetMGM announced on Tuesday that it is introducing its Second Chance promotion for NBA and NHL betting on a restricted basis following the success of the offer during the NFL season.
The NBA's Second Chance promotion is currently active and will take place every Friday until the season concludes. Beginning January 8, the NHL edition will be available on Wednesdays.
"Now live and offered every Friday during the regular season, fans who place a straight bet on a player to score the game’s first field goal will receive their wager back in cash if that player scores second (Second Chance paid via withdrawable unrestricted funds),” according to BetMGM. “Beginning Jan. 8 and running every Wednesday during the regular season, users who place a straight bet on a player to be the first goal scorer will receive their wager back in cash if that player scores second (Second Chance paid via withdrawable unrestricted funds).”
In straightforward terms, a BetMGM customer who bets on an NBA player to score the first basket in a certain game will have their bet returned if that player makes the second field goal. In NHL Second Chance, if the player chosen to score the first goal also scores the second, the bettor receives their wager back.
BetMGM's Second Chance Proved Effective in NFL Wagering
Player proposition wagers, commonly referred to as “prop bets,” are becoming a bigger part of the sports betting vocabulary and are favored by certain bettors because they are seen as simpler to win compared to sides or totals. That isn't always the case, suggesting that there may be beneficial economics in prop bets for operators.
Gamblers prefer these bets for a straightforward reason: typically, the odds are plus money, which means that if the bet wins, the gambler receives significantly more money than their original stake. For instance, during week 18 of the NFL, Atlanta Falcons' running back Bijan Robinson had odds of +275 (wager $100 to receive $275) to be the first player to score a touchdown in that match.
In the past of sports betting, prop bets were mainly limited to the Super Bowl, but the event's allure led gaming firms to expand the availability of these types of bets. At present, there are few days on the sports betting calendar that go by without the availability of some prop bets.
Regarding BetMGM, the operator recognized that the Second Chance marketing initiative proved successful. The operator stated that throughout the 2024 NFL season, first touchdown bets increased by 110% due to the promotion.
Second Opportunity Might Enhance NHL Wagering
The NHL has historically lagged behind the NFL, NBA, and Major League Baseball (MLB) regarding popularity with US sports bettors, but the BetMGM Second Chance promotion might attract more bettors to hockey.
Bets on the first goal scorer in the NHL can be profitable. The lowest odds for these bets on Tuesday night's NHL games vary from +900 (wager $100 to gain $900) to +1600.
Certainly, achieving accuracy is simpler in theory than in practice, and this is why the "insurance policy" provided by BetMGM may appeal to gamblers.
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