BetMGM Extends Second Chance Promo to NBA, NHL Betting

Posted on: January 7, 2025, 07:30h. 

Last updated on: January 8, 2025, 10:25h.

Todd Shriber @etfgodfather Read More

Expertise: Financial, Gaming Business, Mergers and Acquisitions.

BetMGM said Tuesday it’s bringing its Second Chance promotion to NBA and NHL wagering on a limited basis after the offering gained popularity during the NFL season.

The Second Chance promo for NBA games, which is up and running, will run every Friday through the end of the season. Starting on January 8, the NHL version will be offered 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 simple terms, a BetMGM client who wagers on an NBA player to make the first shot in a specific game gets their wager refunded if that player scores the second field goal. For NHL Second Chance, the bettor gets their money back if the player that was bet on to score the first goal scores the second.

BetMGM Second Chance Worked in NFL Betting

Player proposition wagers, colloquially known as “prop bets,” are increasingly part of the sports wagering lexicon and are beloved by some bettors due to the perception of being easier to win than sides or totals. That’s not necessarily true, indicating there can be favorable economics in prop bets for operators.

In a bygone era of sports wagering, prop bets were largely reserved for the Super Bowl, but the popularity of such wagers tied to that event compelled gaming companies to increase the availability of such offerings. Currently, not many days pass on the sports wagering calendar without some prop bets being offered.

Specific to BetMGM, the operator acknowledged the Second Chance marketing scheme bore fruit. The operator said that during the 2024 NFL campaign, first touchdown wagers surged 110% with the help of the promotion.

Second Chance Could Boost NHL Betting

The NHL has long trailed the NFL, NBA, and Major League Baseball (MLB) in terms of popularity among US sports bettors, but it’s possible the BetMGM Second Chance incentive could bring more bettors into the hockey fray.

First-goal scorer bets in the NHL can be lucrative. The shortest odds on such bets for Tuesday night’s NHL games range from +900 (bet $100 to win $900) to +1600.

Of course, getting it right is easier said than done, and that’s where the “insurance policy” offered by BetMGM could be attractive to bettors.