The state of Indiana is adding another renowned sportsbook. WynnBET will become the 10th online sportsbook, which will make its debut on March 25th. The Indiana Gaming Commission on Tuesday gave a mobile launch authorization to Wynn Sports to launch its sports betting platform.
The popular sportsbook will operate under the Rising Star Casino Resort and its casino license. The Rising Star Casino Resort is owned by Full House Resorts and already has another partnership in the sports betting industry (BetAmerica), which operates only online. WynnBET will be the first sportsbook to enter the state this year, but many other companies will join after these competitors see how WynnBet thrives with its new target demographic.
Wynn and Full House partnered up in 2019. The Hoosier State will be the fifth state to add WynnBet as they operate in New Jersey, Colorado, Michigan, and Virginia.
In the month of January, DraftKings led the way with 122 million, FanDuel followed with 89 million, and BetMGM was third with 52.4 million. The top three have constantly stayed the same the last couple of months. Sports bettors in Indiana have wagered over $1.7 billion on sports throughout the year, and mostly through online sportsbooks.
Numbers declined in the month of February, but there are many factors that contribute to the decline in the numbers. The NFL season is in the finishing stages, and Indiana faces competition from neighboring states like Illinois and Michigan. However, Indiana is still in the top 10 in the sports betting industry.
Indiana and Michigan have similar operator tax rates, which is important for sports betting states that share a border as customers will go to other states to cast a bet. The advantage Michigan has was they allow casino betting, which is appealing to many sports bettors who might have won big or have no interest in sports betting.
With the launch, WynnBet will be looking forward to the Sweet 16 and beyond in the NCAA Tournament to give them a boost as many upsets took place and many sports bettors will be intrigued by all the value. The entire tournament will be played in Indiana, which has brought many tourists to the area.
These sports fanatics are expected to register for new accounts and make large amounts of wagers, which will boost numbers by the time the numbers come out in April. The global pandemic canceled the event last year, and many companies, including WynnBet, should largely benefit from this.
Wynn Beat Out Barstool
Barstool may be one of the newest sportsbooks that have a presence in the state because the company is operating through a pair of retail sportsbooks. Despite the presence and being a well-known company, Barstool may have a tough time against their competitors like WynnBet.
Barstool does not have a license in the state as many of its competitors do. WynnBET’s launch in Indiana will give its casino partner Rising Star a much-needed boost. Full House CEO Daniel Lee said in a statement that “We are excited to partner with Wynn Resorts, allowing them to conduct mobile sports wagering throughout Indiana.”
It will be interesting to see how much March Madness will help generate as the event is taking place in Indiana. It will also be interesting to see how it compares to the neighboring states who have already legalized sports betting.
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