BetMGM Extends Second Chance Promo to NBA, NHL Betting

BetMGM Extends Second Chance Promo to NBA, NHL Betting

BetMGM announced on Tuesday that it will introduce its Second Chance promotion for NBA and NHL betting on a limited scale after it became popular 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 language, a BetMGM customer who bets on an NBA player to make the initial shot in a particular game receives their bet back if that player scores the second field goal. For NHL Second Chance, if the player chosen to score the first goal also nets the second, the bettor receives their money back. 

BetMGM's Second Chance Proved Effective in NFL Wagering 

Player proposition wagers, commonly referred to as “prop bets,” are becoming a larger component of the sports betting vocabulary and are favored by certain bettors because they are viewed as less challenging to win compared to sides or totals. That is not necessarily the case, suggesting there may be advantageous economics in prop bets for operators. 

Gamblers prefer these bets for a straightforward reason: frequently, the odds are in plus money, which means when the bet wins, the gambler receives significantly more money back than what they originally staked. For instance, during week 18 of the NFL, running back Bijan Robinson of the Atlanta Falcons had odds of +275 (wager $100 to gain $275) to achieve the first touchdown of that match. 

In an earlier time of sports betting, prop bets were mainly limited to the Super Bowl, but the demand for these types of wagers associated with that event drove gaming companies to expand their offerings. As of now, few days go by on the sports betting calendar without the availability of some prop bets. 

Particular to BetMGM, the operator recognized that the Second Chance marketing initiative was successful. The operator mentioned that throughout the 2024 NFL season, first touchdown bets increased by 110% due to the promotion. 

Second Opportunity May Enhance NHL Wagering 

The NHL has historically fallen behind the NFL, NBA, and Major League Baseball (MLB) in popularity with US sports gamblers, but the BetMGM Second Chance offer might attract more bettors to hockey. 

Wagers on the first goal scorer in the NHL can be profitable. The least favorable odds for these wagers on Tuesday night's NHL matches vary from +900 (wager $100 to gain $900) to +1600. 

Certainly, achieving accuracy is simpler in theory than in practice, which is why the "insurance policy" provided by BetMGM might appeal to gamblers.