WynnBET Headed to Virginia
WynnBET Headed to Virginia: WynBett has now received the Virginia Lottery’s approval for an online sports betting license in Virginia.
They will now have an online sports betting app and will soon launch their online gaming sportsbook in the State. WynnBett is looking forward to bringing its online expertise to gaming in Virginia.
WynnBet, part of Wynn Interactive, is the online sports betting app for Wynn Resorts, Limited. Virginia will become the fourth state where the company’s mobile app is authorized and the 10th state where the company is seeking licenses to operate mobile sports betting.
The company currently operates as WynnBET in New Jersey, Colorado, and Michigan and is expected to seek licensing in Nevada, Indiana, Iowa, Massachusetts, Ohio, and Tennessee.
This market access and licensing for those states are subject to legalization and obtaining the required approvals by regulatory authorities in each jurisdiction.
Craig Billings, who is president of Wynn Resorts in acknowledging the State of Virginia’s trust in Wynn has stated, “We appreciate the confidence the Virginia Lottery has in our ability to deliver a world-class, online betting experience for the people of the Commonwealth of Virginia.”
WynnBet is also the authorized gaming operator for NASCAR and therefore is also the official online sportsbook operator for the 2 racing tracks, Martinsville Speedway and Richmond Raceway in Virginia.
Billings has said of the State of Virginia, “ they value our close relationship with NASCAR and look forward to creating a new and exciting online betting offering for NASCAR fans.”
Wynn Interactive benefits from the expertise of the UK based BetBull which WynnBet bought last year. They hope to continue to expand in the United States with their focus on bringing the consumer ultra-intuitive and responsive interface offerings with an eye toward enhancing the on-line gaming experience for all users.
WynnBet is part of the Wynn Resorts sophisticated brand experience. The company prides itself on providing highly social sports-betting technology and unique experiences that are truly one of a kind.
With the acquisition of BetBull, WynnBet has sought to rapidly extend its reach into online betting in the US. They expect that 2021 will be an exciting year for expansion.
Sports betting has been such an economic boon to the States that have legalized online gaming that many State legislatures have introduced legislation to permit such wagering in their States.
In order to keep up with anticipated demand, WynnBet is preparing to offer enhanced wagering opportunities through new partnerships. In addition to NASCAR, WynnBet has partnered with the NBA’s Detroit Pistons and Memphis Grizzlies.
They recently signed a deal with Genius Sports Group to offer enhanced data and continue to seek and work on other partnership deals.
Sports betting became legal in Virginia last summer, 2020. The State of Virginia has no commercial casinos currently open.
It is the second state to have exclusively online sports betting in addition to Tennessee. It is quite likely that the 2 NASCAR tracks will apply to offer retail sports betting but currently, their licenses do not permit them to do so.
Since Virginia’s State Legislature approved sports betting in April 2020, the State has focused on developing and approving regulations in an accelerated manner. Other sportsbook operators in Virginia include FanDuel, DraftKings, BetMGM, Bet Rivers, and William Hill.
Licensure of these popular sportsbook online companies, in addition to WynnBet, will reduce promotional expenses related to customer acquisition and ensure growth.
Currently, operators are able to obtain licenses in Virginia by partnering with a professional sports team or by being a grantee of one of 8 licenses that the Virginia Lottery is able to issue. The fact that WynnBet is the authorized gaming operator for NASCAR has facilitated its entry into Virginia.
WynnBet will be an exciting addition to the Virginia on-line gaming scene. Expect the sports bettors to be blown away!